This time around, he is fighting a rearguard action
Last month's e-mail from Third Point Management's Dan Loeb
to Kenneth Griffin of Citadel Investment Group looked like a
classic battle of hedge fund egos. Furious about Citadel's
attempt to encroach into the corporate activist territory that
has earned Third Point a 19% return through August this year -
and to do so by poaching - Loeb lashed out:
"Under no circumstances are you to approach any Third Point
employees or attempt to offer them jobs... My warning extends
to any attempt you may make to hire employees of my friends in
the event-driven space: Should you attempt to hire people from
them I will consider it a similar act of war."
Given the changing nature of the hedge fund world, this is
one battle Loeb's unlikely to win. Loeb has made a lot of money
by attacking bloated public companies, and he's been...