Dan Loeb to headline Sohn Hearts & Minds
afr.comFamed hedge fund manager Dan Loeb has been named as one of the headline acts for next month’s Sohn Hearts & Minds philanthropic investment conference to be held in Sydney.
Mr Loeb, 61, has built a reputation as a fierce shareholder activist and oversees $US11.7 billion ($18.5 billion) at New York-based Third Point. The California-born Mr Loeb founded Third Point in 1995 with $US3.3 million of capital from friends and family.
Daniel Loeb oversees $US11.7 billion ($18.5 billion) at New York-based Third Point. Bloomberg
His brutal letters to management have become legendary on Wall Street. Some of his best-known activist investments have been in Yahoo, Sony, Sotheby’s, Campbell Soup and lately Shell.
Third Point is an event-driven hedge fund, and has profited from some macro bets over the years. This includes a highly profitable Greek bond trade after the European debt crisis and taking a position in corporate loans after the outbreak of the COVID-19 pandemic in 2020.
Mr Loeb told investors in an update in July that he expected the US Federal Reserve to get less hawkish, and although consumers were vulnerable in a mild recession, Third Point had faith in its corporate debt positions.
Sohn Hearts & Minds chairman Matthew Grounds said the event had been trying to convince Mr Loeb to speak since its inception in 2016.
“We had a top five list and Dan was in that, and now I think we’ve got everyone else on that list.”
Previous headline acts include Bridgewater’s Ray Dalio, Oaktree’s Howard Marks, Charlie Munger of Berkshire Hathaway and Bill Ackman of Pershing Square.
Mr Grounds said a friend and former UBS colleague, Tommy Anglin, helped broker Mr Loeb’s appearance, and would host the conversation.
Event organisers have also
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