Investing in the Looming Worldwide Water Shortage - Seeking Alpha

Investing in the Looming Worldwide Water Shortage - Seeking Alpha: "Investing in the Looming Worldwide Water Shortage"

Is Eyal Daytrading?

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Daniel Loeb Recruit Email

The recent Daniel Loeb letter to to PDL BioPharma seems to have reignited interest in that famous Loeb email exchange from 2005 with a London money manager who was sniffing around for a gig at Third Point. Here it is below, and a New Yorker piece from ‘05 on the exchange below and other Loeb letters.

—–Original Message—–
From: Alan Lewis
Sent: Tuesday, March 22, 2005 11:34 AM
To: Daniel Loeb
Subject: CV
Daniel,
Thanks for calling earlier today. Enclosed is my cv for your review. I look forward to following up with you when you have more time.
Best regards,
Alan
Alan D. Lewis
Managing Director
Sthenos Capital Ltd.
—–Original Message—–
From: Daniel Loeb
Sent: 27 March 2005 23:08
To: Alan Lewis
Subject: RE: CV
what are your 3 best current european ideas?
Daniel Loeb
Managing Member
Third Point LLC
—–Original Message—–
From: Alan Lewis
Sent: Monday, March 28, 2005 1:03 AM
To: Daniel Loeb
Subject: RE: CV
Daniel,
I am sorry but it does not interest me to move forward in this way. If you wish to have a proper discussion about what you are looking to accomplish in Europe, and see how I might fit in, fine.
Lesson one of dealing in Europe, business is not conducted in the same informal manner as in the U.S.
Best regards,
Alan
—–Original Message—–
From: Daniel Loeb
Sent: 28 March 2005 09:50
To: Alan Lewis
Subject: RE: CV
One idea would suffice.
We are an aggressive performance oriented fund looking for blood thirsty competitive individuals who show initiative and drive to make outstanding investments. This is why I have built third point into a $3.0 billion fund with average net returns of 30% net over 10 years.
We find most brits are bit set in their ways and prefer to knock back a pint at the pub and go shooting on weekend rather than work hard. Lifestyle choices and important and knowing one’s limitations with respect to dealing in a competitive environment is too. That is Lesson 1 at my shop.
It is good that we learned about this incompatibility early in the process and I wish you all the best in your career in traditional fund management.
Daniel
—–Original Message—–
From: Alan Lewis
Sent: Monday, March 28, 2005 4:08 AM
To: Daniel Loeb
Subject: RE: CV
Daniel,
I guess your reputation is proven correct. I have not been in traditional fund management for more than eleven years. I did not achieve the success I have by knocking back a pint, as you say. I am aggressive, and I do love this business. I am Half American and half French, and having spent more than half my life on this side of the pond I think I know a little something about how one conducts business in the UK and Europe.
There are many opportunities in the UK and Europe, shareholder regard is only beginning to be accepted and understood. However, if you come here and handle it in the same brash way you have in the U.S. I guarantee you will fail. Things are done differently here, yes place in
society still matters, where one went to school etc. It will take tact, and patience (traits you obviously do not have) to succeed in this arena.
Good luck!
Alan
—–Original Message—–
From: Daniel Loeb
Sent: 28 March 2005 10:23
To: Alan Lewis
Subject: RE: CV
Well, you will have plenty of time to discuss your “place in society” with the other fellows at the club.
I love the idea of a French/english unemployed guy whose fund just blew up telling me that I am going to fail.
At Third Point, like the financial markets in general,”one’s place in society” does not matter at all. We are a bunch of scrappy guys from diverse backgrounds (Jewish Muslim, Hindu etc) who enjoy outwitting pompous asses like yourself in financial markets globally.
Your “inexplicable insouciance” and disrespect is fascinating; It must be a French/English aristocratic thing. I will be following your “career” with great interest.
I have copied Patrick so that he can introduce you to people who might be a better fit-there must be an insurance company or mutual fund out there for you.
Dan Loeb
————————————————

From: Alan Lewis
To: Daniel Loeb
March 28 2005

Hubris.

————————————————

From: Daniel Loeb
To: Alan Lewis
March 28 2005

Laziness.

Holiday at Madeira

 

Fading the Gap

Interesting study / stats for the ES about gap fading:

http://www.mypivots.com/articles/articles.aspx?artnum=43&page=1

How Spain's open-border policy is driving an economic and social revival

Imagine what would happen if a prosperous Western nation threw open its borders, allowing immigrants to flood in virtually unchecked. Soaring unemployment, overstretched social services, rising crime, even rioting in the streets?
Not in Spain.Over the past decade, the traditionally homogeneous country has become a sort of open-door laboratory on immigration. Spain has absorbed more than 3 million foreigners from places as diverse as Romania, Morocco, and South America. More than 11% of the country's 44 million residents are now foreign-born, one of the highest proportions in Europe. With hundreds of thousands more arriving each year, Spain could soon match the U.S. rate of 12.9%.
And it doesn't seem to have hurt much. Spain is Europe's best-performing major economy, with growth averaging 3.1% over the past five years.
Since 2002, the country has created half the new jobs in the euro zone. Unemployment has plummeted from more than 20% in the 1990s to 8.6%, within shooting distance of the 7.2% euro zone average. The government attributes more than half this stellar performance to immigration.

-BusinessWeek

Cool intuitive, interface-free touch-driven computer screen

Now this is cool !!



Jeff Han is a research scientist for New York University's Courant Institute of Mathematical Sciences . Here, he demonstrates — for the first time publicly — his intuitive, "interface-free," touch-driven computer screen, which can be manipulated intuitively with the fingertips, and responds to varying levels of pressure. (Recorded February 2006 in Monterey, CA. Duration: 09:32)