“The only thing I do know is that from chaos comes opportunity.” ~Dan Loeb
IMG: via Third Point
Dan Loeb is the founder and CEO of Third Point LLC, a New York based investment adviser firm. Loeb founded the firm in 1995, with just over $3 million in capital; today, Third Point has assets of about $1.7 billion, and Loeb has been recognized by Forbes as one of the richest hedge fund managers and traders in the world.
“Third Point employs an event-driven, value-oriented investment style,” reads the firm’s website. “The Firm seeks to identify situations where we anticipate a catalyst will unlock value.”
Dan Loeb is well known for being articulate when it comes to improvements a company should make. His signature style involves acquiring a large stake troubled companies and then writing letters that call for management to take action—including replacing inefficient leaders. These changes often help to bring companies back to profitability.
New York Magazine says Loeb’s letters are “thorough, well argued, and filled with clever turns of phrase.” He’s seen such success and strong response with the letters that other hedge fund managers have also begun writing letters of a similar suit.
Before founding Third Point, Dan Loeb was Vice President of high-yield bond sales at Citigroup. Prior to that, he also worked with Jefferies & Co. as a bankruptcy analyst, bank loan trader, and distressed securities salesman. His career began at private equity group Warburg Pincus soon after graduating with a degree in economics from Columbia University in 1983.
Outside of the investment world, Dan Loeb is a trustee of the United States Olympic Committee, Mount Sinai Hospital, the Manhattan Institute, and the Museum of Contemporary Art in Los Angeles. He is also involved in education: he serves as Chariman of the Board of Success Academies Charter Schools, is a trustee of NYC-based Prep for Prep, and has endowed the Daniel S. Loeb Scholarship for undergraduate study at Columbia.
