Certain to Win: The strategy of John Boyd, applied to business [Chet Richards]
The commoditization of information [Geoff Yamane]
Position sizing: why conviction matters [Intrinsic Investing]
The problem with believing what we're told [WSJ]
How a Canadian firm has taken on Wall Street's private equity titans [Economist]
Research on the financial performance of collectibles [Alpha Architect]
Peloton is a phenomenon: can it last? [NYTimes]
A skeptical look at Peloton churn [Inquisitive Investor]
Peloton bikes are the real deal [The Margins]
How Amazon's shipping empire is challenging UPS & FedEx [WSJ]
Amazon's next-day delivery has brought chaos and carnage to streets [BuzzfeedNews]
The man behind the biggest beauty brands in the world [Coveteur]
Aston Martin tried to replicate Ferrari's IPO success but shares are down 75% [Fortune]
On the importance of broadcasting income to European football clubs [Swiss Ramble]
5 lessons from Microsoft's antitrust woes by people who lived it [NYTimes]
Wednesday, September 4, 2019
What We're Reading ~ 9/4/19
Wednesday, September 28, 2016
What We're Reading ~ 9/28/16
Investing to avoid the consequences of being wrong [aaii]
Comments on investment philosophy [Bronte Capital]
9 ways to improve investing performance [Livewire Markets]
The traits and processes that lead to better forecasts [aaii]
Cognitive bias cheat sheet [Better Humans]
How to build a business that lasts 100 years [TED]
KLX shares could lift off [Barrons]
Why the great divide is growing between affordable and expensive US cities [WSJ]
Amazon's latest ambition: competing with UPS and FedEx [WSJ]
Why video games could be causing a big problem in America [Washington Post]
Jack Ma's grand ambitions [Fortune]
Negative rates nails savers [Mauldin Economics]
When restaurants ditch the dining room [Eater]
Tuesday, November 12, 2013
Dan Loeb Discloses New FedEx Stake
Third Point's founder Daniel Loeb today disclosed a new position in FedEx (FDX) at the Dealbook conference which was shown on CNBC and said he met with the CEO.
Loeb said that, "We had a very constructive discussion about the company." He also commented that he is not looking to oust the CEO.
Third Point isn't the only prominent hedge fund interested in the company, either. Our Hedge Fund Wisdom newsletter highlighted that John Burbank's Passport Capital and Richard Perry's Perry Capital both initiated stakes in FDX in the second quarter. Perry's position was quite notable at the time, as they owned over $384 million worth and it was one of their largest disclosed US longs.
The thesis on this name focuses on improvement in profitability, bringing margins more in-line with competitors, as well as favorable tailwinds like gas prices.
Loeb also talked about shareholder activism and specifically about Sony (SNE). Loeb argues they're more like private equity investors. When asked whether or not Sony was a bet on Japan, Loeb replied, "We remain very bullish on Japan."
Embedded below are the videos of Loeb's comments:
Video 1 on FedEx:
Video 2 on Sony:
Video 3 on activism:
Video 4 on Herbalife:
For more on this hedge fund, we've posted up Third Point's Q3 letter as well.
