Dan Loeb quotes 2Pac
Clearly in a good mood after a +6.8% 3rd quarter, Dan Loeb of course quotes Thucydides ... and 2Pac's song "Keep Ya Head Up" to describe his $9.3B hedge fund's approach to Greek bonds. Presumably puzzling many Third Point investors.
"I'm tryin' to make a dollar outta fifteen cents."
Maybe when European debt turns in a poor quarter he'll need to quote Biggie's 6th crack commandment instead. Somehow it's not surprising that the two had different views on distressed debt investing.
"That goddamn credit, dead it
You think a crackhead paying you back, s*** forget it."
What other songs do you think should be featured in investor letters?
Cam's uncle comes to mind.
"Can't get paid in a earth this big?
You worthless kid, Cam don't deserve to live."