In order to keep our views proprietary and maximise time spent on investing, I am relinquishing authorship of our Quarterly Letter, which will now focus on analysis of portfolio positions, and business developments.
I will share my market observations and outlook on our Investor Quarterly Calls. In addition, I may send out investment memos on an ad-hoc basis should it be in the interest of our investors.
We’re not really sure why Loeb has to completely extricate himself from letter-writing responsibilities to ensure the letter “maximizes time spent on investing” — it shouldn’t take too long to whip up a few bullish or bearish-inclined paragraphs, should it?
We suspect the real reasons are:
- It interupts his surfing schedule.
- He wants to spend more time writing Obama-mocking emails
- His wife needs him to start preparing for the writing of and photography involved in this year’s Christmas card.
- They always get posted on Dealbreaker
Anyway, all is not lost — we will always have his sporadic “investment memos.”
Still, investor letters can be absolutely golden. Especially when managers use them to slam the media, or introduce newbies to the firm, or take a trip down memory lane or let everyone know that the peksy insider trading scandal is beginning to make a dint in the asset base.
And Loeb’s have been full some gems, so we are sad his creative input will be no more.
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