Wednesday, 29 June 2016
Last updated 27 min ago
Feb 21 2014 | 10:00am ET
The recipients of Daniel Loeb's more fire-breathing letters, or the targets of his tartest put-downs, might not sense much inner peace in the Third Point founder. But Loeb yesterday credited his spirituality for some of his success.
"Meditation, contemplation—it's not just for monks and hermits," Loeb told the American Enterprise Institute.
Loeb made the comments during a visit to the conservative think-tank by the Dalai Lama, the spiritual leader of Tibetan Buddhism. He cited a 1995 trip to India to study yoga as sparking a "life-long passion for spirituality, for contemplation, meditation."
The hedge fund manager said that yoga had helped him in his work, notably in developing his intuition and decision-making abilities. And, perhaps surprisingly for someone who has emerged as a bitter critic of progressive policies and President Barack Obama, Loeb told his fellow conservatives that it is important to see everyone as interconnected, and that capitalism's failure to lift everyone hurts everyone.
Which is not to say Loeb is ready to abandon the free market, telling the Dalai Lama that capitalism does make the world a better place.