Dan Loeb - Lessons from 30 Years of Investing - [Invest Like the Best, EP.475]
Episode publishedPodcast: Invest Like the Best with Patr...Invest Like the Best with Patrick O'Shaughnessy
Transcript preview
Preview only
I know firsthand how complex the tax stack is for asset managers, and seemingly every new tool and data source makes the problem even worse, adding more complexity, more headcount, and more risk. Ridgeline offers a better way forward, one unified platform that automates away all that complexity across portfolio accounting, reconciliation, reporting, trading, compliance, and more. All at scale. Ridgeline is revolutionizing investment management, helping ambitious firms scale faster, operate smarter, and stay ahead of the curve. See what Ridgeline can unlock for your firm. Schedule a demo at rid
Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own opinions and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc.
My guest today is Dan Loeb, the founder and CEO of Third Point. Dan started Third Point in 1995 with a few million dollars, and today the firm manages 24,000,000,000 across equities, corporate and structured credit, venture, and insurance. He is best known for his activist work at companies like Sotheby's, Sony's, Yahoo, and for the public letters he has written to boards over the years. What I find most interesting about Dan is how much his approach has evolved across those thirty years. He came up as a credit and event driven investor at Warburg Pincus and Jefferies, built Third Point, then
I wish I could say I have a Claude code that is organized all the information in one place, and I go through it all. But you know, I check the news and see what's relevant for the economy, and what's relevant for our positions. I try not to get too obsessed with the minute to minute stuff, because that will drive you crazy. Try to be a little more tactical than strategic. People ask me about macro, what's important, and I think when people think about macro, think about all the typical stuff that the government reports, growth, unemployment, inflation, rates, currencies, where's gold, where's
What is your model of both of those things? Do you feel like you need to have just a clear view or a differentiated view? Like how do you process things as big as this where probably no one person can understand the whole thing?
I'm not natively a tech person, but I think given where the world is today, there was a time when you could say I'm just gonna punt on tech and focus on industrials and consumer and health care. I think you have to be a tech person today. It's a big and growing and compounding part of the economy. It affects everything else. So I think best as I can, I try to talk to smart people regularly? Jensen is laid out well and everybody talks about the AI stack, starting with power and energy at the bottom and chips and infrastructure and moving up through the LMs and software and applications and how
How would you describe yourself as an investor? You have an early reputation for this incredibly precise ability to go through things with sort of a forensic lens as an activist early in your career. But now Third Point is a much bigger, broader, more diversified collection of 25,000,000,000 or so of assets. How do you think of yourself as stylistically as an investor?
The roots of Third Point really come out of my experience as a credit investor in my time at Jefferies. Jefferies was like my laboratory for studying some of the best investors. My cli
Keep exploring with a free account.
A free account preserves the short preview. Upgrade to Pro for the full transcript and episode chat.