Daniel S. Loeb, the founder of Third Point LLC, has a reputation for his strongly worded (and public) letters to companies and CEOs.
The sharp-tongued fund manager has made headlines again after taking a massive long position in Herbalife, the stock rival Bill Ackman has been publicly shorting.
Third Point has disclosed that it owns 8,900,000 shares or an 8.24% stake.
Ackman believes Herbalife, a multi-level marketing company that sells nutrition products, is a pyramid scheme. Loeb doesn't believe Ackman's accusation has merit.
Right now, it's an all-out hedge fund war between this hedge fund titans.
So who is this activist investor? We're going to a take a tour through Loeb's life and find out.
Daniel Seth Loeb is a West Coast kid born and raised.
The hedge fund manager was born on Dec. 18, 1961. (He definitely looks younger than 51)
Loeb, the son of Ronald and Clare Spark Loeb -- a lawyer and a historian, respectively -- grew up in sunny Santa Monica, Calif.
Loeb, who's still known for his big mouth, had to hire a bodyguard to protect him when he offended other kids in school.
Loeb used to get himself into trouble in the schoolyard with his big mouth.
So when he was 12 years-old at Paul Revere Junior High School in L.A., he hired a classmate for 25 cents a day to be "bodyguard" to protect him from bullies.
Growing up near the beach, Loeb always been a life-long surfer.
Even in his early fifties, Loeb still catches waves.
During his talk at the Jewish Enrichment Center in 2009, Loeb said that he has a "secret spot" in the Caribbean and he second favorite place in the world to surf is in Indonesia.
Source: Jewish Enrichment Center
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