Dan Loeb
Founder & CEO of Third Point · Activist / event-driven / credit investor
“You can still buy Nvidia, maybe the multiple slightly higher right now, but there's such a catch up trade in Nvidia at 15 times 27, 12 times 28 for the most dominant, very fast growing company at its size... unless you are really draconian and you think the AI world is going to roll over in 31 or 32, I think it's the most attractive sector right now. It's where the bulk of our capital is invested.”
“Why is the SOX up so much? All the evidence pointed to the fundamentals being super strong. What happened? Expectations were too high... Micron had a phenomenal quarter, up 80%, way ahead of expectations. The stock went up a little bit because expectations were too high, and then it went down... that's where the human element comes in, to make those tough trading decisions when fundamentals are going one way and stock prices are going the other.”
“It's very different from the dot com bubble which we were short going into. You don't have the valuation bubble now... these are companies for the most part investing money off their balance sheets that are generating enormous amounts of cash. The GAAP earnings numbers are really strong.”
“The three most consequential companies today [are] Nvidia, Anthropic and Elon World, all of his companies collectively.”
“When Xai did a debt financing, very few credit people wanted to play in that one because there was no cash flow — $2 billion in revenues and a $20 billion enterprise value. But we were very comfortable that this was a real business. [On Twitter debt:] it was like 96, 97 cents on the dollar, yielding around a 12% yield... we made that at that time our largest credit position.”
“A lot of these companies that appeared to be super high quality — it's probably the worst year going into the beginning of this year because of the disruption of AI. A lot of these apparently high quality companies very rapidly became less so.”
Dan Loeb
One-line summary: Third Point founder; activist + event-driven + credit + quality investor (~$25B AUM, ~60% credit). Tracked for AI-complex valuation views (NVDA catch-up trade, 'most attractive sector'), the not-dot-com bull framing, and xAI/Twitter credit positioning.
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Said
Speaker-attributed claims extracted from diarized sources. Each bullet mirrors one entry in quotes: frontmatter — keep them in sync.
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On csp-capex-cycle-peak-or-sustained:
"You can still buy Nvidia, maybe the multiple slightly higher right now, but there's such a catch up trade in Nvidia at 15 times 27, 12 times 28 for the most dominant, very fast growing company at its size... unless you are really draconian and you think the AI world is going to roll over in 31 or 32, I think it's the most attractive sector right now. It's where the bulk of our capital is invested." — 2026-05-28-podcast-invest-like-the-best-dan-loeb-lessons-from-30-years-of-investing (2026-05-28)
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"Why is the SOX up so much? All the evidence pointed to the fundamentals being super strong. What happened? Expectations were too high... Micron had a phenomenal quarter, up 80%, way ahead of expectations. The stock went up a little bit because expectations were too high, and then it went down... that's where the human element comes in, to make those tough trading decisions when fundamentals are going one way and stock prices are going the other." — 2026-05-28-podcast-invest-like-the-best-dan-loeb-lessons-from-30-years-of-investing (2026-05-28)
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On csp-capex-cycle-peak-or-sustained:
"It's very different from the dot com bubble which we were short going into. You don't have the valuation bubble now... these are companies for the most part investing money off their balance sheets that are generating enormous amounts of cash. The GAAP earnings numbers are really strong." — 2026-05-28-podcast-invest-like-the-best-dan-loeb-lessons-from-30-years-of-investing (2026-05-28)
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On csp-capex-cycle-peak-or-sustained:
"The three most consequential companies today [are] Nvidia, Anthropic and Elon World, all of his companies collectively." — 2026-05-28-podcast-invest-like-the-best-dan-loeb-lessons-from-30-years-of-investing (2026-05-28)
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On spacex:
"When Xai did a debt financing, very few credit people wanted to play in that one because there was no cash flow — $2 billion in revenues and a $20 billion enterprise value. But we were very comfortable that this was a real business. [On Twitter debt:] it was like 96, 97 cents on the dollar, yielding around a 12% yield... we made that at that time our largest credit position." — 2026-05-28-podcast-invest-like-the-best-dan-loeb-lessons-from-30-years-of-investing (2026-05-28)
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On seat-based-saas-ai-disruption:
"A lot of these companies that appeared to be super high quality — it's probably the worst year going into the beginning of this year because of the disruption of AI. A lot of these apparently high quality companies very rapidly became less so." — 2026-05-28-podcast-invest-like-the-best-dan-loeb-lessons-from-30-years-of-investing (2026-05-28)
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