Speaker
Dan Loeb
Appearances over time
1 episodes
Episodes
1
Podcasts
Quotes & moments
Dan Loeb stated Nvidia is absolutely undervalued on an earnings basis over the next 2 to 3 years, comparing market reluctance to similar past mistakes with Google and Amazon.
Third Point sold Enphase stock below $1 on the IPO and estimates the position would have returned approximately $4 billion had they held.
Silk Road founder Ross Ulbricht received a sentence of double life plus 40 years — a sentence Loeb and others argued was wildly disproportionate to the actual charges proven in court.
Loeb shorted homebuilders on the thesis that the industry was the last to still be suffering a post-COVID inventory and pricing hangover while being structurally impaired by hidden land-pool commitments.
Dan Loeb's father took him to meet a stockbroker at age 10, sparking a lifelong fascination with investing despite his father being a self-described 'notoriously bad investor.'
Third Point started an insurance company (now 50% owned) to capture investment-grade private and public credit, structured credit, and whole loans, using surplus capital in differentiated ways.
Third Point was a private investor in Palantir and sold all stock in the $20s, missing a subsequent 8–10x return as the stock soared after going public.
Loeb credits the Jefferies distressed debt desk as his real investment education — a fire-hose environment writing up securities daily that amounted to the canonical 10,000 hours of deliberate practice.
Loeb categorised prisoners into three groups: the falsely convicted, those showing contrition and rehabilitation, and those with disproportionate sentences — and argued each warrants different reform interventions.
Loeb became chairman of Success Academies, a New York charter school network, arguing that income inequality's root cause is failing to equip vulnerable children with intellectual tools — not Jeff Bezos's wealth.
AI can process data, but it can't look you in the eye. Loeb argued the irreplaceable human edge in investing is the social and relational layer — networks, trust, and the accountability that comes from a real person being responsible for gains and losses.
The wealth gap isn't about billionaires — it's about what we're not giving poor kids. Loeb, as chairman of Success Academies, argues the real culprit is union-protected school structures that strip out accountability and merit, and that proving education reform works doesn't require more money.
Long before Reddit, Dan Loeb was anonymously trolling fraudulent companies on Yahoo and Silicon Investor — and making money doing it. The Wild West of early internet chat boards was his first investing laboratory, where he learned to detect fraud, taunt management teams, and ultimately prevail on the short side.
Actrade was one of Loeb's earliest short victories: a repeat fraudster running a factoring company dressed up as a tech innovator, trading at five or six times book value. The 'special technology' turned out to be repackaged factory securities financing refrigerators.
Forget the Ivy League — Dan Loeb's real MBA came from Jefferies' distressed debt desk in the 1990s. Writing up securities daily, moving big blocks of debt, and watching customer thought processes from David Tepper to Eric Mindich's Goldman arb team gave him an investing operating system nobody teaches in school.
Third Point started as a classic event-driven shop exploiting complexity — spin-offs, bankruptcies, privatizations — where management sandbagging created alpha. Technology forced the pivot: today, the fund obsesses over business quality, durable moats, and which management teams can adapt to a world reshaped by AI.
Third Point is no longer just a hedge fund. Loeb laid out a sprawling platform: long-short equity and credit, a CLO business, private credit and direct lending, and a wholly-owned insurance company that captures the investment-grade slice of the portfolio. Each business feeds the others.
Third Point went short homebuilders with a two-part thesis: the industry was structurally impaired by hidden commitments to land pools it called 'options' (but weren't), and it was the last sector still suffering from unsustainable post-COVID price inflation that buyers could no longer afford.
Dan Loeb called Nvidia absolutely undervalued on a 2–3 year earnings basis. Long-short funds are structurally incentivised to short it because it 'feels safe' — the same mistake made with Google and Amazon at comparable stages of dominance. The stock will eventually break out.
Third Point sold Palantir in the $20s and missed a near-10x run. It sold Enphase under $1 on the IPO and estimates leaving $4 billion on the table. The lesson: board seats restrict liquidity, and recalibrating upside expectations for a multi-trillion-dollar market era is the hardest skill in investing.
Dan Loeb was a key player in securing Ross Ulbricht's presidential pardon — approaching Charlie Kirk, who made it his sole ask of President Trump. The twist: Trump's then-attorney David Warrington, now White House Counsel, had already been Ulbricht's personal lawyer for a decade.
Analysis
What they talk about
- Business 59%
- Society & Culture 17%
- Education 8%
- Government 8%
- Technology 8%
Connections
Shows they appear on and people they share episodes with. Drag to explore.
