May
06
Daniel Loeb Strikes Back Against Buffett’s Criticism of Hedge Funds
ByLAS VEGAS — To many Americans, the billionaire investor Warren E. Buffett is the “Oracle of Omaha.” To another billionaire investor, Daniel S. Loeb, he is a hypocrite.
Mr. Loeb, who runs the $17.4 billion hedge fund Third Point, told an audience of hedge fund faithful on Wednesday that Mr. Buffett “has a lot of wisdom, but I think we need to be aware of the disconnect between his wisdom and how he behaves.”
He was taking aim at a public bet that Mr. Buffett made against the hedge fund industry, which Mr. Buffett believes cannot outperform the broader market and, specifically, the Standard & Poor’s 500-stock index…
Daniel Loeb Strikes Back Against Buffett’s Criticism of Hedge Funds
