Billionaire hedge fund manager Daniel Loeb totally threw shade at Warren Buffett at the SALT Conference in Las Vegas.
“I love reading Warren Buffett’s letters. I love how he criticises hedge funds, yet he had the first hedge fund. I love that he criticises activists, yet he was an activist. He criticises financial services companies, yet he invests in them. He thinks we should all pay more taxes but loves to avoid them,” Loeb said.
The audience laughed and clapped.
“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.
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 sign them “Very yours truly, Daniel S. Loeb.”
At last year’s SALT Conference, Buffett was ripped for his taxes too.
Macro fund manager John Burbank of Passport Capital joked that Buffett is “basically a tax evader” and everyone laughed and clapped then too.