Most people on Wall Street know Dan Loeb, the founder of Third Point LLC, as the outspoken hedge fund manager who writes strongly worded letters to companies. And now we've just learned some interesting tid-bits about the sharp-tongued billionaire hedge fund manager and Third Point:
Loeb hired former CIA agents to teach his Third Point staff "deception detection." That's basically lie detection for corporate executives. (SAC and Goldman Sachs both did deception detection training)
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When Third Point is shorting a stock they use private investigators so they can understand the situation better than anyone else.
Loeb thinks that a stock or industry that sounds terrible when pitched can be an opportunity because those "out of favor" stock or industries are often the best investment ideas….
Read more: http://www.businessinsider.com/dan-loeb-hired-former-cia-agents-to-teach-his-staff-deception-detection-2012-3#ixzz1qa8Tlkil
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