Hedge fund manager Dan Loeb has something else to say to fellow hedge fund manager Bill Ackman, a man he’s been at odds with for some time. CNBC senior writer Jeff Cox reports that Dan Loeb posted the following sentence on his Bloomberg terminal portal: “Never interfere with an enemy when he is in the process of destroying himself.”
This apparently is a clear reference to Ackman, who’s had a rough year so far and appears to be losing money right and left on some of his biggest bets.
Dan Loeb versus Ackman over J.C. Penney, Herbalife
Dan Loeb has faced off with Ackman on more than one occasion. Currently Ackman has a couple of big problems on his hands. His $1 billion short position in Herbalife Ltd (NYSE:HLF) has been losing him money practically every day.
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Also Ackman has been riling up J.C. Penney Company, Inc. (NYSE:JCP)’s board of directors in an attempt to push them into finding a permanent chief executive officer much sooner than they have planned to. His long position in the aging retailer has been losing him money too.
Dan Loeb’s other stab at Ackman
Weeks ago, Dan Loeb jabbed at Ackman again, this time with a post which read: “New HLF product: The Herbalife Enema, administered by Uncle Carl.” Of course that’s a reference to Carl Icahn, who’s also long Herbalife Ltd (NYSE:HLF) and also faces off against Ackman. And don’t forget that George Soros, another well-known player in the hedge fund industry, is also at odds with Ackman. It would seem like he has far fewer friends than enemies, if he has any friends at all.
Dan Loeb himself has also been the subject of jabs from other sources. Actor George Clooney had plenty to say about Loeb, specifically in connection with Sony Corporation (NYSE:SNE) (TYO:6758). Dan Loeb has been pushing Sony to spin off its entertainment division. Clooney said recently that Loeb was just trying to manipulate the markets. Actor Ashton Kutcher also waded into the fray, taking a middle ground between Loeb and Clooney.