Dan Loeb Is Sure His Shorts Will Work This Time

By next year, definitely.
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In the wake of a difficult first quarter, Dan Loeb expressed confidence: There were just so many terrible companies run by so many stupid executives in an environment perfectly suited to bringing them down he could hardly lose.

DanLoeb.BattleofBastards

Except that he did, and he is, losing. So in the wake of a difficult beginning to the fourth quarter, Loeb is assuring his investors: There were just so many terrible companies run by so many stupid executives in an environment perfectly suited to bringing them down he can hardly lose.

"While current U.S. growth remains above‐trend, helped by fiscal stimulus, this positive impulse is peaking now, and will combine with an increasing drag from tightening financial conditions," Loeb said in a letter dated Friday. "We have delevered our portfolio, reduced our tech exposure meaningfully, and grown our short book. We expect to be net sellers over the next few months if markets rally."

Hedge fund activist Daniel Loeb is worried about this market, cuts Netflix and exits Facebook [CNBC]

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