Saturday, June 26, 2010

Compilation of Dan Loeb's Letters to CEO's

I was recently watching a webcast of a speech Dan Loeb gave and it inspired me to return and re-read his old greats.
Excellent letters. Formidable phrasing this paragraph remains a great.
"I must admit that I was so distraught by our conversation that my temper got the
best of me and loudly informed Dr. Verbrugge that I was flunking him as a
director of the Company and that I planned to expel him from the board as soon
as practicable, before unilaterally terminating the conversation." - Letter to Intercept


Letter to Intercept
http://www.sec.gov/Archives/edgar/data/1040273/000089914004000756/i2555408d.txt

Letter to Penn Virginia1st
http://www.sec.gov/Archives/edgar/data/77159/000089914002000174/lo1012114d.txt
2nd
"http://www.sec.gov/Archives/edgar/data/77159/000089914003000256/tp1176920b.txt

Letter to Pogo
http://www.sec.gov/Archives/edgar/data/230463/000089914006001686/t120106c.txt

Letter to Nabi Pharma
http://www.sec.gov/Archives/edgar/data/72444/000089914006000611/t042706.txt

Letter to Horizon
http://www.prnewswire.com/news-releases/wilbur-ross-actions-as-head-of-horizon-natural-resources-creditor-committee-unfair-according-to-third-point-management-company-73900162.htm

Letter to Salton Corporation
http://www.sec.gov/Archives/edgar/data/878280/000089914004001211/s2647579d.txt

Letter to Star Gas
http://www.sec.gov/Archives/edgar/data/1002590/000089914005000128/t2774169.txt

Letter to Western Gas
http://www.sec.gov/Archives/edgar/data/856716/000089914005000405/t2846930d.tx

Letter to Ligand
http://www.sec.gov/Archives/edgar/data/886163/000089914005000884/l2992329d.txt

Loeb's corporate activism has brought to light the poor attendance and performance of board members, terrible conflicts of interest within the executive class and a host of CEO issues from outright management incompetence to poor capital allocation and even highlighting under-qualification/lying as with the Yahoo CEO of late. Dan Loeb, CEO of Third Point Advisors, has gained legendary status for both his history of high capital returns and corporate activist victories.

Can't help myself but laugh upon re-reading these great pieces. Wonderfully written!

Enjoy Reading!

Please comment with your thoughts, opinions and perspectives on any of the above! I would love to start a conversation with you!

16 comments:

  1. Very helpful links, thanks for sharing this with me!@bose

    Letters

    ReplyDelete
    Replies
    1. Thank you for the support! Much appreciated - the latest developments have been adding to many people's interest which is great to see.

      Delete
  2. Loeb's Yahoo letters:
    http://www.sec.gov/Archives/edgar/data/1011006/000089914011000516/y6991465b.htm
    http://www.sec.gov/Archives/edgar/data/1011006/000089914011000485/y6981272b.htm
    http://www.sec.gov/Archives/edgar/data/1011006/000089914012000211/y7560312b.htm
    http://www.sec.gov/Archives/edgar/data/1011006/000089914012000225/t7603094b.htm
    http://www.sec.gov/Archives/edgar/data/1011006/000089914012000299/y7749418b.htm
    http://www.sec.gov/Archives/edgar/data/1011006/000089914012000354/y7768782b.htm

    ReplyDelete
    Replies
    1. This comment has been removed by the author.

      Delete
    2. Thank you Cal for your compilation above! I am currently assembling a post on Dan Loeb's involvement in the Yahoo scandal of late and will be sure to give you your due credit.

      Delete


  3. I have a question., there should be genuine reason to expel him ? do you have

    Types of letters


    ReplyDelete
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    www.michaelgcasey.wordpress.com
    http://www.amazon.co.uk/Michael-Casey/e/B00571G0YC/ref=sr_ntt_srch_lnk_54?qid=1373557050&sr=1-54

    ReplyDelete
  5. Thank you for putting this resource together. I encountered some quotes with the provocative throwaway line, "Loeb became legendary for his letters to the Boards." I searched for the letters themselves, always preferring to read the original document rather than a paraphrase or summary-- and found your site. A hat tip to you!

    ReplyDelete
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