Dan Loeb just threw shade at Warren Buffett at a big hedge fund conference

Discussion in 'The Howard Stern Show' started by rory, May 7, 2015.

  1. rory

    rory Well-Known Member

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    Dan Loeb just threw shade at Warren Buffett at a big hedge fund conference and everyone clapped
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    Billionaire hedge fund manager Daniel Loeb totally threw shade at Warren Buffett at the SALT Conference in Las Vegas.
    "I love reading Warren Buffett's letters. I love constrasting his words with his actions... I love his wisdom. He's a very wise guy. But I also love how he criticizes hedge funds, yet he really had the first hedge fund. He criticizes activists, yet he was the first activist. He criticizes financial services companies, yet he invests in them. He thinks we should all pay more taxes but he loves avoiding them himself," Loeb said, adding, "He has a lot of wisdom" and that there's a "disconnect between his wisdom."
    The audience laughed and clapped.
    "Alright, I'm sorry Warren if you're out there," SkyBridge's Anthony Scaramucci, the host of the SALT Conference, said.
    Scaramucci had previously asked Loeb about books he likes to read. He mentioned that he likes self help books and literature written by Charlie Munger, Buffett's right-hand man at Berkshire Hathaway.
    "He's got a lot of wisdom."
    Loeb, the founder of Third Point LLC, is famous for writing letters too. Loeb has a reputation for his sharp tongue. In his letters, the activist fund manager would call the CEOs the worst he's ever seen and accuse them of "tooling around." He would then sign them "Very yours truly, Daniel S. Loeb."
    At last year's SALT Conference, macro fund manager John Burbank of Passport Capital joked that Buffett is
    "basically a tax evader" and everyone laughed and clapped then too.

     
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  2. rory

    rory Well-Known Member

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    WARREN BUFFETT: 'I don't see smiles on the faces of people at Whole Foods'

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    (Rick Wilking/Reuters) Whole Foods shares are getting crushed after earnings.The company reported record second quarter sales that still were below investors' expectations, and shares were down as much as 10% in after hours trade on Wednesday.

    This past weekend at the Berkshire Hathaway annual shareholders' meeting this past weekend, CEO Warren Buffett singled out the company, saying that that the customers there simply don't seem like a happy bunch.

    In response to questions about holding investments in companies that make foods high in sugar (like Coca-Cola,) while consumers' diets shift towards healthier options, Buffett said (via Bloomberg): "I don’t see smiles on the faces of people at Whole Foods."

    Here's some more color on what Buffett said, according to Time:

    "Food and beverage companies will adjust to the expressed preferences of consumers. No company does well ignoring its consumers.

    "It’s amazing how durable [consumer brands are]. Berkshire Hathaway was the largest shareholder of General Foods from 1981 to 1984 — that’s 30-plus years ago. It was bought by Philip Morris and spun out as Kraft. Those same brands are popular today. Heinz goes back to 1869. The ketchup came out in the 1870s. Coca-Cola dates to 1886. It’s a pretty good bet that a lot of people will like the same things."

    Whole Foods is popular for its fresh and organic food options.

    But Buffett is unapologetic for his junk food habits and the amount of coke he drinks.

    He recently added Kraft Foods to his portfolio, the maker of Velveeta cheese, Oreos, and others.

    And as his vice chairman and long time business partner Charlie Munger quipped: "Sugar is an enormously helpful substance. It prevents premature softening of the arteries."
     
  3. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

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    Buffett didn't get rich investing. He got rich manipulating markets via political contacts and little speeches he gives that he knows move the markets to his advantage. He's a criminal. And dipshits worship him like he's a god. Because they're the exact kind of suckers he takes advantage of. The ones who think it's a fair marketplace.
     
  4. rory

    rory Well-Known Member

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    He also ddoesn't want the pipeline to go through. He claims its for the environment. NOPE. He owns the R.R s and the pipeline would not need a railroad anymore and he would lose BIG money.
     
  5. Droog

    Droog Well-Known Member VIP

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    Activist hedge fund cocksucker. Although he says some things about Buffett that are true, he's a piece of shit.
     
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