Dan Loeb: The Lost Art of Short Selling, and Why Stock Picking is Back
Episode publishedPodcast: All-In with Chamath, Jason, Sa...All-In with Chamath, Jason, Sacks & Friedberg
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Legendary activist investor, Dan Loeb. He, of course, is the CEO and CIO of Third Point.
The lost art of short selling has come back, and it's absolutely critical. It doesn't matter what you do. You have to be really selective. People talk about stock pickers market. This is a bond and credit pickers market. When we were small, our main tool was shame and humor.
Dan Loeb turning up the heat on Nestle over the weekend.
The shift has really been more towards a dare to be great message. Activism without proxy contest is like Catholicism without hell.
You're very active on the Twitter as well. Oh, wow. You found your voice.
Lot lot of emotion brewing there.
Can we actually start with that? Before Twitter, you were actually quite active, but they were in very different places. I mean, you were in Wall Street Bets before Wall Street Bets existed. Can you just walk us through your evolution as a as a public persona?
Sure. I mean, was this brand new technology that came out called the Internet. And really shortly thereafter, long before Reddit or any of these other things, were a series of chat boards. There was know, Yahoo. There was something called Silicon Investor. A few other ones and people would congregate in Kebits. It was done mostly anonymously and it was an interesting place to exchange ideas or was it was really the wild west. People could pretty much say or do anything, but there was a lot of but there was a lot of substance there too. It's not actually that much different than from today.
You Did you engage at all in any trolling per se?
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