Dan Loeb just threw shade at Warren Buffett at a big hedge fund conference and everyone clapped
"I love reading Warren Buffett's letters. I love constrasting his words with his actions... I love his wisdom. He's a very wise guy. But I also love how he criticizes hedge funds, yet he really had the first hedge fund. He criticizes activists, yet he was the first activist. He criticizes financial services companies, yet he invests in them. He thinks we should all pay more taxes but he loves avoiding them himself," Loeb said, adding, "He has a lot of wisdom" and that there's a "disconnect between his wisdom."
The audience laughed and clapped.
"Alright, I'm sorry Warren if you're out there," SkyBridge's Anthony Scaramucci, the host of the SALT Conference, said.
Scaramucci had previously asked Loeb about books he likes to read. He mentioned that he likes self help books and literature written by Charlie Munger, Buffett's right-hand man at Berkshire Hathaway.
"He's got a lot of wisdom."
Loeb, the founder of Third Point LLC, is famous for writing letters too. Loeb has a reputation for his sharp tongue. In his letters, the activist fund manager would call the CEOs the worst he's ever seen and accuse them of "tooling around." He would then sign them "Very yours truly, Daniel S. Loeb."
At last year's SALT Conference, macro fund manager John Burbank of Passport Capital joked that Buffett is "basically a tax evader" and everyone laughed and clapped then too.