Dan Loeb Channels His Inner Steven Spielberg
As many of you know, Dan Loeb is something of a pioneer in the activist investing industry. Sure, there were others doing it before him, but he made a name for himself when it came to the art of disemboweling his targets via pen and paper. And while he continues to send various public company CEOs and their boards his trademark letters (all of which include a potent, poetic blend of sarcasm, self-regard, belittling attacks on management competence, and lengthy prescriptions for change), Loeb is not content to sit on his laurels vis-à-vis fucking up the universes of his objects of scorn, or to get left behind in the 20th century of activist investing. In April 2012, he debuted a blog exclusively devoted to his proxy battle against Yahoo-- the first of its kind!-- and today, he's unveiled his latest reinvention of the wheel: a short film about Dow Chemical, complete with ominous music that is sure to haunt your dreams and make the Koch brothers proud. The film is a certain finalist for best picture at the Proxies, an annual awards ceremony honoring cinematic achievement in the hedge fund industry.
Broken Promises from Third Point on Vimeo.