Daniel S. Loeb is one of the most popular and richest Investor who was born on December 18, 1961 in Santa Monica, California, United States.
From 1984-87, Loeb worked at private equity firm Warburg Pincus. He then worked as director of corporate development at Island Records, a record label, where he focused on securing debt financing. After Island Records, Loeb worked as a risk arbitrage analyst at Lafer Equity Investors and then, from 1991–94, as senior vice-president in the distressed debt department at Jefferies LLC, where he focused on bankruptcy analysis, trading bank loans and selling distressed securities. He moved on to become a Citigroup vice president from 1994–95, in charge of high-yield bond sales.
Loeb started Third Point Management in 1995 “with $3.3 million from family and friends”. Under Loeb’s guidance, Third Point Management’s annualized returns since inception (Dec. 1996 – Dec. 2015) total approximately +16.2%. In 2012, the firm returned +21.2%, outperforming the S&P 500’s return of +16.0% and making it one of best performing hedge funds that year. In 2013, the firm returned +25.2%, while the S&P 500 returned +32.4%. Loeb appeared in Forbes’ 2013 list of the world’s 40 richest hedge-fund managers and traders. In 2014, the firm returned +5.7%, while the S&P 500 returned +13.7%. In 2015, the firm returned -1.4%, while the S&P 500 returned +1.4%. In 2017, it was reported the firm returned 18.1% net of fees in the first 11 months of the year.
