Daniel Loeb, the billionaire founder of activist hedge-fund firm Third Point LLC, said spirituality is good for business.
Meditation, contemplation -- its not just for monks and hermits, Loeb, 52, said today at an American Enterprise Institute panel discussion in Washington with speakers including Tibetan spiritual leader, the Dalai Lama. Theyre really for people to improve all our lives and business.
Loeb, whose New York-based firm Third Point returned about 26 percent last year, makes investments that often rely on forcing management and boards to make changes that boost shares and returns, including sending letters to executives bemoaning perceived corporate failures. Last year he targeted Dow Chemical Co., Sony Corp. and Sothebys. In his efforts to influence the auction house, he compared Sothebys to an old Master painting in need of restoration and called on its chief executive officer to resign.
Loeb, a panelist at the AEI discussion on Moral Free Enterprise-Economic Perspectives in Business and Politics, described three types of decisions. They are foundational ones, which rely on honesty; choices that use a framework; and trading decisions, some of which can fall into patterns and others that are in uncharted territory.
When we make choices they come not just from whats going to create a favorable outcome but, as the Dalai Lama said, to make sure we make decisions that do no harm that are consistent with a moral framework, Loeb said.
Loeb isnt the only high-profile investment manager to meditate. Billionaire Ray Dalio, who runs Bridgewater Associates LP, said he started the practice 42 years after being inspired by the Beatles.
To contact the reporters on this story: Kelly Bit in New York at kbit@bloomberg.net; Saijel Kishan in New York at skishan@bloomberg.net
To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net
Visit link:
Loeb Says Spirituality Good for Business, Not Just for Monks
- Book Excerpt: One Song - November 7th, 2009 [November 7th, 2009]
- Book Review: The Mitten Tree - November 7th, 2009 [November 7th, 2009]
- Book Review: The Monkey with a Bright Blue Bottom - November 7th, 2009 [November 7th, 2009]
- Book Review: Mama, Will It Snow Tonight? - November 7th, 2009 [November 7th, 2009]
- Book Review: There's No Such Thing as Monsters! - November 7th, 2009 [November 7th, 2009]
- DVD Feature Film Review: Perestroika - November 8th, 2009 [November 8th, 2009]
- DVD Feature Film Review: Nothing Like the Holidays - November 8th, 2009 [November 8th, 2009]
- Spiritual Literacy Blog: Must We Have Bad Music in Public Spaces? - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Angels and Dragons - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: A Soul's Journey - November 8th, 2009 [November 8th, 2009]
- Book Review: A Book of Hours - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: A Book of Hours - November 8th, 2009 [November 8th, 2009]
- Feature Film Review: Storm - November 8th, 2009 [November 8th, 2009]
- Feature Film Review: Skin - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: The Anger Diet - November 8th, 2009 [November 8th, 2009]
- Newsletter: October 31, 2009: The Abbot Who Declared The Hall Is Finished - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Suffering and the Courage of God - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Life-Changing Affirmations - November 8th, 2009 [November 8th, 2009]
- DVD Feature Film Review: The Answer Man - November 8th, 2009 [November 8th, 2009]
- DVD Feature Film Review: The Dead - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Five Voices, Five Faiths - November 8th, 2009 [November 8th, 2009]
- DVD Feature Film Review: Lemon Tree (Etz Limon) - November 8th, 2009 [November 8th, 2009]
- DVD Documentary Film Review: Unmistaken Child - November 8th, 2009 [November 8th, 2009]
- DVD Documentary Film Review: Food, Inc. - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: The Workplace Revolution - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Journeys of Courage - November 8th, 2009 [November 8th, 2009]
- Feature Film Review: The Men Who Stare at Goats - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: The Gift of Prayer - November 8th, 2009 [November 8th, 2009]
- Feature Film Review: That Evening Sun - November 8th, 2009 [November 8th, 2009]
- Feature Film Review: The Box - November 8th, 2009 [November 8th, 2009]
- Relax and Melt into a deep deep meditative state. - November 8th, 2009 [November 8th, 2009]
- Symptoms of Anxiety - November 8th, 2009 [November 8th, 2009]
- Nonduality And Spirituality---Enlightenment - November 8th, 2009 [November 8th, 2009]
- How Not to Stop Anxiety Attacks---Part 1 - November 8th, 2009 [November 8th, 2009]
- Natural Treatment for Anxiety disorders--Antidote anxiety - November 8th, 2009 [November 8th, 2009]
- What to do When Anxiety Attacks--Antidote Anxiety - November 8th, 2009 [November 8th, 2009]
- Spiritually charged metaphysical spiritual quote - November 8th, 2009 [November 8th, 2009]
- Release Technique & Non Duality& Law of attraction - November 8th, 2009 [November 8th, 2009]
- NonDuality & Manifestation - November 8th, 2009 [November 8th, 2009]
- All Is One, One is All !! - November 8th, 2009 [November 8th, 2009]
- Worrying about Anxiety---Antidote Anxiety - November 8th, 2009 [November 8th, 2009]
- Free course on Conquering Anxiety - November 8th, 2009 [November 8th, 2009]
- Manifesting Prosperity,Love manifesting,Dream Manifesting - November 8th, 2009 [November 8th, 2009]
- Stress and Anxiety Relief Treatment - November 8th, 2009 [November 8th, 2009]
- Stress and Anxiety Reduction with Brainwave entrainment - November 8th, 2009 [November 8th, 2009]
- How to Remove feeling of Fear and Anxiety - November 8th, 2009 [November 8th, 2009]
- Relieve Stress:Financial Troubles, Low Self Esteem - November 8th, 2009 [November 8th, 2009]
- Meditation, Enlightenment & Paradox - November 8th, 2009 [November 8th, 2009]
- False beliefs and Emotional Healing to develop emotional intelligence - November 8th, 2009 [November 8th, 2009]
- Millionaire Mind- Meditations Manifesting Abundance - November 8th, 2009 [November 8th, 2009]
- Three Essential requirements to learn Self Hypnosis Quickly - November 8th, 2009 [November 8th, 2009]
- Non duality and manifestation--Law of attraction - November 8th, 2009 [November 8th, 2009]
- Law of Attraction-- Manifesting Wealth Beyond Reason - November 8th, 2009 [November 8th, 2009]
- The Secret Busted--- Flaws of the Secret. - November 8th, 2009 [November 8th, 2009]
- Book Excerpt: Web of Silence - December 12th, 2009 [December 12th, 2009]
- Living Spiritual Teachers Project: Byron Katie - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: Before Tomorrow - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Sadhu Sundar Singh - December 13th, 2009 [December 13th, 2009]
- Spiritual Literacy Blog: We May Be Born with an Urge to Help - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: Everybody's Fine - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: Brothers - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: Gigante - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: When People Grieve - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: The Light and Fire of the Baal Shem Tov - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: The Last Station - December 13th, 2009 [December 13th, 2009]
- Feature Film Review: Up in the Air - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Learning to Pray - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Beyond Absence - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Ecology & Liberation - December 13th, 2009 [December 13th, 2009]
- Book Feature: The Best Spiritual Books of 2009 (So Far) - December 13th, 2009 [December 13th, 2009]
- DVD Feature Film Review: Julie & Julia - December 13th, 2009 [December 13th, 2009]
- DVD Documentary Film Review: The Cove - December 13th, 2009 [December 13th, 2009]
- DVD Feature Film Review: Harry Potter and the Half-Blood Prince - December 13th, 2009 [December 13th, 2009]
- Book Review: Spirit of Service - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Spirit of Service - December 13th, 2009 [December 13th, 2009]
- Book Review: The Wolf at Twilight - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: The Wolf at Twilight - December 13th, 2009 [December 13th, 2009]
- Book Review: Memories of Muhammad - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Memories of Muhammad - December 13th, 2009 [December 13th, 2009]
- Book Excerpt: Humility Matters for Practicing The Spiritual Life - December 13th, 2009 [December 13th, 2009]