Tuesday, 21 October 2014
Last updated 17 min ago
Jan 18 2012 | 11:55am ET
In all his years of poison-pen activism, Dan Loeb has likely never had a day like yesterday.
The Third Point chief claimed his biggest-ever scalp with the resignation of Yahoo! Inc. founder Jerry Yang from the pioneering Internet company's board of directors. Loeb has publicly hounded Yahoo!'s management and directors, taking particular aim at Yang, who he accused of boasting a "history of strategic bungling."
Most recently, Loeb attacked the "sweetheart PIPE deal which will serve only to entrench Yang and the current board while massively disenfranchising public shareholders and permanently robbing us of the opportunity to obtain a control premium."
Loeb has said that Yahoo! should explore a sale.
In a statement, Yang, who founded Yahoo! almost 17 years ago, said that "the time has come for me to pursue other interests outside of Yahoo!"
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...