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posts about #thirdpoint more → 
Dan Loeb, the Edgy Hedgie
New York, 3:05 PM
Sat Dec 5
40 posts in the last 24 hours
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Dan Loeb, the Edgy Hedgie |
Original material is licensed under a Creative Commons License permitting non-commercial sharing with attribution.
02/03/09
Not like a private jet can't find it's way to Indo or comparable...
And if an art dealer turns away a big-money sale because you're ill-mannered, man, you know you're a new level of insufferable tool.
02/03/09
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[money.cnn.com]
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02/03/09
I appreciate someone who can tell company managers to their faces (well, almost) that they're frauds, and make major coin while doing it.
Overcompensation issue to one side (I'd say that's a function of there not being enough of them, rather than too many) I do think hedge funds play a useful role in the economy -- and the more they try to stir things up with fossilized management teams, the better. I guess seeing analytical thinking win out is just that important to me, so I'll tolerate all sorts of personal eccentricities along the way. I can even respect the yoga enthusiasm.
Now, who's this Julia Alliblog person? (j/k)
02/03/09
02/03/09
Your larger point -- about their being too many hedgies -- deserves a more analytical response. I admit I'm just citing a basic macroeconomic/strategy analysis, where the persistence of abnormal profits denotes a market that is insufficiently exploited. I suppose your counterargument is that hedgies work to concentrate rather than spread risk, or that their unregistered status creates an irresistible temptation to tiptoe around the law to others' detriment? Not bad arguments, but I'm curious where you would take them.
02/03/09
Losing 32% is manna in this market. Congratulations on losing slightly less or whatever - unless you're running a fund, I'm not impressed. It's one thing to get lucky shorting oil and Google (like I did this year), but it's quite another to sling a couple billion around.
The problem with hedges in my eyes isn't that they're too numerous, it's that they've been getting too large to be nimble.
02/03/09
Loeb opened his fisrt fund in 1995. If you invested in 1995 you are probably way ahead of the game (even with the 2008 losses).
02/03/09
How in the world does an investment manager who cannot manage investments make that much money? I guess it's the lethal 2% of assets, regardless of performance.
02/03/09
I guarantee the vast majority of Loeb's wealth comes from the performace fee that only gets paid when his investors make money.
02/02/09
Is she fucking 12?
02/02/09
02/03/09
02/03/09
The yoga poses -- so hilarious. And so subtle!
"Look at me!!! You like yoga?? I can do yoga!!! Look!!! Here I am!! Doing yoga!!!!!"
02/03/09
02/02/09
does that send a message to his clients that (1) he is a master of the universe and they are along for the ride or (2) he is grossly overpaid at their expense
judging from the return on his fund i pick option (2)
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Oh, wait a minute, that kid was named David Loeb. Nevermind.
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02/02/09
any chance that legislation will include requiring hedge funds to reimburse fees if the return they earned investors one year is erased (or worse) the next year?
since hedge fund investments aren't liquid...and most hedge funds can freeze redemption rights...that seems appropriate to me.
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02/03/09
The "20" of 2/20 is based on positive performance above watermark. You make almost nothing if you don't perform.
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02/03/09
Every fund details its accounting method in the PPM. Fees are determined on closes - typically monthly, quarterly, or annually - based on all-time performance marks. So, for example, inception is NAV X and only performance in excess of the largest all-time value of X results in you getting your 20.
02/03/09