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George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

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George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by mosaic on Fri Aug 02 2013, 17:37

George has some strong words in regards to a hedge fund manager making waves at Sony:

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Last edited by Katiedot on Fri Aug 02 2013, 18:03; edited 1 time in total (Reason for editing : updated thread title)

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Katiedot on Fri Aug 02 2013, 18:03

Many thanks for finding this. Here's the whole story:

George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

By MIKE FLEMING JR | Friday August 2, 2013 @ 9:16am PDTTags: Daniel Loeb, George Clooney, Sony Pictures, The Monuments Men








inShare.11 Comments (14)
Mike Fleming
George Clooney Sony Daniel LoebEXCLUSIVE: George Clooney, who yesterday sent his Smokehouse Pictures partner Grant Heslov to Hollywood to show Sony and Fox a first cut of their Oscar-season period film The Monuments Men, has spent most of his career navigating the challenge of making provocative movies at studios obsessed with tentpoles. While he’s won Oscars — the latest the Best Picture prize he shared with Heslov and producer-director Ben Affleck for Argo — Clooney is also the guy who kept a photo of himself as Batman prominently displayed on his office wall, as a cautionary reminder of what can happen when you make movies solely for commercial reasons.

Working on post-production for his latest directing effort in Italy to ready for Sony’s December 18 release, Clooney spoke to me about his new movie and how it’s getting harder to make films like Monuments, Argo and the Smokehouse-produced August: Osage County. The discussion turned toward recent critical comments made by Third Point LLC hedge fund head Daniel Loeb and the pressure he is placing on Sony Pictures chiefs Michael Lynton and Amy Pascal, centered around the under-performing back to back summer films After Earth and White House Down. Loeb, whose fund controls 7% of Sony stock, is pressing for Sony to spin off its entertainment assets and likened those misfires to historic flops Waterworld and Ishtar. Though Clooney and Heslov base their Smokehouse Pictures banner at Sony, and Loeb’s influence is growing there, Clooney has never been shy about standing up to what he feels is wrong. So, buckle up.

Said Clooney: “I’ve been reading a lot about Daniel Loeb, a hedge fund guy who describes himself as an activist but who knows nothing about our business, and he is looking to take scalps at Sony because two movies in a row underperformed? When does the clock stop and start for him at Sony? Why didn’t he include Skyfall, the 007 movie that grossed a billion dollars, or Zero Dark Thirty or Django Unchained? And what about the rest of a year that includes Elysium, Captain Phillips, American Hustle and The Monuments Men? You can’t cherry pick a small time period and point to two films that didn’t do great. It makes me crazy. Fortunately, this business is run by people who understand that the movie business ebbs and flows and the good news is they are ignoring his calls to spin off the entertainment assets. How any hedge fund guy can call for responsibility is beyond me, because if you look at those guys, there is no conscience at work. It is a business that is only about creating wealth, where when they fail, they get bailed out and where nobody gets fired. A guy from a hedge fund entity is the single least qualified person to be making these kinds of judgments, and he is dangerous to our industry.”

Why is he dangerous?

“[Loeb] calls himself an activist investor, and I would call him a carpet bagger, and one who is trying to spread a climate of fear that pushes studios to want to make only tent poles,” Clooney said. “Films like Michael Clayton, Out of Sight, Good Night, And Good Luck, The Descendants and O, Brother Where Art Though?, none of these are movies studios are inclined to make. What he’s doing is scaring studios and pushing them to make decisions from a place of fear. Why is he buying stock like crazy if he’s so down on things? He’s trying to manipulate the market. I am no apologist for the studios, but these people know what they are doing. If you look at the industry track record, this business has made a lot of money. It creates a lot of jobs and is still one of the largest exporters in the world. To have this guy portraying it that Sony management is the bad stepchild and doesn’t know what it is doing and he’s going to fix it? That is like Walmart saying, let me fix your town, putting in their store, strangling all the small shops and getting everyone who worked in them to work for minimum wage with no health insurance.

“It’s crazy he has weight in this conversation at all,” Clooney continued. “If guys like this are given any weight because they’ve bought stock and suddenly feel they can tell us how to do our business — one he knows nothing about — this does great damage than trickles down. The board of directors starts saying, ‘Wait a minute. What guarantee do you have that this movie makes money?’ Well, there are no guarantees, but if you average out the films Will Smith and Channing Tatum have made, you will take that bet every time, even if sometimes it just doesn’t work out.” Clooney also said he believes that down the line both films have a chance to be a wash. Clooney was particularly sensitive on the subject of job creation.

“Hedge fund guys do not create jobs, and we do,” he said. “On the movie we just made, we put 300 people to work every day. I’m talking about nice, regular people, and when we shot in a town, we’d put another 300 people to work. This is an industry that thrives; there are thousands of workers who make films. You want to see what happens if outside forces start to scare the industry and studios just make tent poles out of fear? You will see a lot of crap coming out.”

Phew! Despite the Loeb rant, Clooney was in a good mood after completing a WWII period drama he said went well, despite what he called “the worst winter weather that Germany had in about 150 years”. Clooney and Heslov wrote the script for a fact-based film about how a crew of art historians and museum curators united in a race to uncover renowned art works that were looted by the Nazis. The ticking clock was, Hitler was going to destroy them as the Third Reich tried to cover the tracks of a murderous regime during the final chapter of Germany’s rule. Clooney and Heslov (both of whom produced) got a killer cast. Besides Clooney, the film stars Cate Blanchett, Matt Damon, Bill Murray, John Goodman and Jean Dujardin. Daniel Craig was going to make the film, but it turned out he spent so much time making and promoting Skyfall that he told Clooney his wife, actress Rachel Weisz, would kill him if he didn’t go home. So he was a scratch.

“After we wrapped The Ides Of March, we were going through our slate to find what’s next and I asked Grant, what do we have that is not so cynical, and not questioning the rights and wrongs of the world,” Clooney said. “He said, we don’t have anything like that. But he’d read this book The Monuments Men at the airport. We thought it could be a really great old fashioned number where you put a gang together to go after the greatest art archives in the world, these six million pieces stolen by Hitler, who serves as the ultimate bad guy. It was an untold story of World War II, and those don’t come around often. We pitched it to Sony and they came aboard right away, and everything along the way went smoothly, which never happens. It will come out two years after we first pitched it.”

The film has a $75 million budget, and Clooney said it came in $5 million under and five days early. “That means more money for music and CGI, because in post you always get surprised,” he said. There was plenty of good will on the set, and even pranks that are part and parcel of movie sets where Clooney and Damon dwell together.

“Matt was rushing to lose weight, and I’d have the wardrobe people take in his uniform every day, so that no matter how much he was losing, the clothes felt tight on him,” Clooney said. “There was a real family feeling. I have known John Goodman since I was the seventh banana on Roseanne and to have him come over, and to work for the first time with Bill Murray, who’s a close friend, and Cate and Matt, was incredible. Jean Dujardin was great. I’d only met him at awards shows, when I told him early on that he might win the Oscar for The Artist if he learned English, which maybe I shouldn’t have said [Clooney lost to Dujardin for his perf in The Descendants]. Matt, Bill and John would often come to the set even when they weren’t shooting and when we had a snowstorm, they were right there, picking up camera cases and helping to move craft services.”

Even though Clooney acknowledges that $75 million is generous for a studio-made film that isn’t based on a comic book, he feels they got a lot of bang for the buck with star power and staging a period film in Europe. Part of that is because he hasn’t taken an upfront salary forever, something that has become commonplace in the business and is evidence that Loeb’s criticism of fiscal irresponsibility at Sony isn’t recognizing the whole picture.

“The last time I got paid full freight was The Perfect Storm, when I had no back end,” he said. “From then on, I’ve taken a minor partial upfront payment and gambled on the back end on all my movies. Some have underperformed, but they have never been designed for huge grosses. I’ve gambled and invested as much as a studio; if they’re making a film for $15 million and I put my $7.5 million in the pot, we’re all investors who are staked in its performance. I’m comfortable with that.”

Clooney noted how well that strategy worked for his pal Steven Soderbergh, who teamed with Channing Tatum to personally underwrite the budget of Magic Mike. The film was a big hit, a sequel is in the works, and so is a Broadway musical. Soderbergh told me at Cannes that his wager should result in the biggest payday of his career.

“What a way for Steven to go out, at the end of his movie career he hits the jackpot,” Clooney said. “I watched so many times as he gave back money and percentages to get actors. I applaud both Steven and Channing.”

I reached out to Third Point, and if there is any response by Loeb to Clooney’s assessment, I will add it after Third Point has a chance to absorb the story.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by party animal - not! on Fri Aug 02 2013, 18:52

Wow, Katie! Thank you very much for finding this one.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Katiedot on Fri Aug 02 2013, 19:02

No, don't thank me, thank Mosaic. Although it's all over the twitterverse (alongside stories of him with nespresso and his 'spy satellite) conveniently obliterating breakup news.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by party animal - not! on Fri Aug 02 2013, 19:16

Yep, agree, Katie, but it's interesting how fast His Nibs has reacted to some of Loeb's very recent statements. And rightly so. Just googling his name throws up some really interesting news about what he's trying to do. Although I note that he currently has 7% of Sony's shares, he is certainly making a lot of noise........

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carolina Gal on Fri Aug 02 2013, 19:22

This was a very informative and interesting read.  But I have a question that perhaps someone on COH can help me understand.  When George stated that"...pushes studios to want to only make tent poles..."  What does he mean?

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Katiedot on Fri Aug 02 2013, 19:24

A 'tent pole' film is the big blockbuster type of film, typically action-adventure rubbish aimed at teenagers, often special-effects laden, riddled with car chases, fight scenes and nonsensical scripts.  Think Transformers or the Twilight shit.  Generally it's films meant to put bums on seats but is devoid of any meaning, art or integrity.  Popcorn films.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carolina Gal on Fri Aug 02 2013, 19:30

Thanks, Katie!

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by party animal - not! on Fri Aug 02 2013, 19:43

Yep, and of course 'tentpole' films are the last thing Smokehouse (and a lot of others) want to make.

Clearly we have a very focused George at the moment - thank goodness! - and I'm really not sure it's a 'relationship' smokescreen. Mike Fleming has written several articles about Loeb, so he's the right man for His Nibs' side of the story.

These are the 'good guys' (as Lysa Heslov and others put it at the Oscars) we're talking about here

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by What Would He Say on Fri Aug 02 2013, 19:56

If you went to a Restaurant...and got the same meal served up......YOU WOULD STOP GOING.

If you went to the Department Store.... and got only the same style of dress....YOU WOULD STOP GOING.

THAT IS WHY GOD MADE CREATIVE PPL...GOOD (AND BAD)...MAKES LIFE INTERESTING.

We crave by nature the unexpected.

"Money men" by nature do NOT understand this process....BIG SURPRISE!!!!!

Short term gain ....Long term pain....x


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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by silly girl on Fri Aug 02 2013, 20:09

Sadly though it is all about the money now. I think this is why Television has been growing. It is a bit easier to make quality films that are on the small screen first. This goes back to how I think it was Steven Spielberg said it will someday cost $30 for a movie ticket.

At some point all forms of showing a film will merge.....look how the Emmy's have two shows nominated that were not on either cable or basic TV but on Netflix....


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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carla97 on Fri Aug 02 2013, 20:23

I can understand both sides of the table.

I posted earlier somewhere that I don´t like current trending with tentpoles. Algorithm based investment strategy on creative work. Not much of a use for fibonacci code in that process.

Hedge fund guys are big and powerful. We made them so. They do good on our portfolious. There is uncertainty, there´s risk and risk is the godfather of serious money.

If it´s up to them they`ll kill the cinema. Somekind of balance could be what we have at the moment.

7% of Sony is quite a slice. I looked at the stock. It´s falling on low volyme. Price level is getting attractive. Chart looks familiar, last time I saw a stock acting like this it soon sky rocketed. But could be just a warning phase for real. Smile Maybe the volyme will pick up now that I told you this Razz 

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Mazy on Fri Aug 02 2013, 20:25

Terrific story thanks for it. Not good timing on the part of Loeb George just finishing up a long hard shoot. Of a movie that I think is going to be spectacular just from what we saw of the making. Which I tend to think they are pretty proud of.

Not that I think George would take s**t from anyone when he is in the right. The movie business is very important to him and the quality like wise so. Thanks again for the article.


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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by silly girl on Fri Aug 02 2013, 21:01

I am excited for the film especially because I read the book and found it to be a fascinating story. It cost a lot of money to make which is why I am worried it won't do well enough to make it a hit--in the eyes of the studio. I almost wish he made it for the small screen where a much wider audience might see it....

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carla97 on Fri Aug 02 2013, 21:15

Me too.

I´m also excited about Sony now, did more research on a company.
Thanks for the article and tip. Good one.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Nicky80 on Fri Aug 02 2013, 21:16

thanks for the artical Mosaic. that was really great to read.
 
George had really a go on Loeb. Wonder if he will comment on George.
 
In the artical was written
 
"“[Loeb] calls himself an activist investor, and I would call him a carpet bagger..."
 
What is a "carbet bagger"? Something like a gold digger? Tried to google it but didn't find a good translation.
 
There was this sentance:
 
"That means more money for music and CGI, because in post you always get surprised,” 

What is CGI?
 
Funny that he mentioned our worst winter. It is so true. We had the worst winter ever. LOL He had global warming experience Shocked

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by party animal - not! on Fri Aug 02 2013, 21:29

Okay, Nicky, here goes -

CGI is short for computer generated imagery (used a lot in film) and


A carpetbagger is someone who has no real interest in the business/company, but takes all the profits and the jobs and tells those who are still in the company what to do. Asset strippers are a bit like that, but they move on!

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Nicky80 on Fri Aug 02 2013, 21:32

Thanks PAN - now I understand

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carla97 on Fri Aug 02 2013, 21:43

Horrors! oh, horror! horror of horrors!

Is when a carpetbagger is from the big bank and sits on a board of directors! It´s like party animal said, even asset strippers move on, but these ones just sit and grow roots....huh

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by it's me on Fri Aug 02 2013, 22:48

"George Clooney, who yesterday sent his Smokehouse Pictures partner Grant Heslov to Hollywood to show Sony and Fox a first cut of their Oscar-season period film The Monuments Men"

So? How went??
He would be really nervous.... nailbiting 

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Nicky80 on Fri Aug 02 2013, 22:50

True would be interesting to know what the feedback was.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by it's me on Fri Aug 02 2013, 22:59

Being on the other side of the planet.... No sleep too!

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by party animal - not! on Fri Aug 02 2013, 23:48

Google 'Clooney', guys, and every headline is on this interview. Impressive. A smattering of Keibler and Longoria on page 2, but that's about it

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Way2Old4Dis on Fri Aug 02 2013, 23:54

Bravo, George!!

This is why I f**king love this man.

Not only is he right, and right to speak up about it; he's not afraid to say he's proud to be a part of the industry. I get so sick of millionaire actors who think it's cool to diss or denigrate the source of their livelihood. The truth is, if you do it right, moviemaking is a pretty damn honorable profession. Loeb and people like him care about lining their pockets more than anything, much less the quality of a project or the long-term effects any given project can have on individual lives, a company, a studio, or a city.

I'm proud of George for not jumping on the "Hollywood is shit" bandwagon.

High five, George. Kick ass.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Mazy on Sat Aug 03 2013, 06:54

WALL STREET

8/02/2013 @ 1:17PM |6,044 views
George Clooney Attacks Hedge Fund Billionaire Dan Loeb

US actor and director George Clooney. (Image credit: AFP/Getty Images via @daylife)[You must be registered and logged in to see this image.]

Actor George Clooney, one of Hollywood’s biggest stars, attacked one of the most famous hedge fund managers on Wall Street, calling billionaire Daniel Loeb a “carpet bagger” who is “trying to manipulate the market.”

In comments he made to Deadline.com, Clooney said that he has been reading about Loeb, who Clooney says has no business meddling in Hollywood’s affairs because hedge fund guys like Loeb don’t create jobs like the movie industry, one of America’s biggest exporters.

“[Loeb] calls himself an activist investor, and I would call him a carpet bagger, and one who is trying to spread a climate of fear that pushes studios to want to make only tent poles,”Clooney told Deadline’s Mike Fleming Jr. “What he’s doing is scaring studios and pushing them to make decisions from a place of fear. Why is he buying stock like crazy if he’s so down on things? He’s trying to manipulate the market.”

Dan Loeb To Sony: No More Mr. Nice Guy For Company That Makes Box-Office Bomb Like 'After Earth'Nathan VardiForbes Staff
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Loeb’s Third Point hedge fund has become a major investor in Sony SNE -1.55% and Loeb has been calling for the company to spin off its U.S. entertainment assets like Sony Pictures Entertainment. In a recent letter to Third Point’s investors, Loeb blasted the co-chiefs of Sony Pictures Entertainment, Michael Lynton and Amy Pascal, who Loeb said were responsible for two box-office bombs, After Earth and White House Down. “Under Mr. Lynton and Ms. Pascal’s leadership, Entertainment’s culture is characterized by a complete lack of accountability and poor financial controls.” Loeb wrote. “These latest blunders are prima facie evidence of our thesis that Entertainment’s U.S.-based business is being ineffectively overseen and needs its own governance structure.”

Clooney, whose Smokehouse Pictures production company has a production contract with Sony Pictures Entertainment, defended Lynton and Pascal, saying Loeb was cherry picking unsuccessful movies and ignoring other Sony successes like Skyfall, Zero Dark Thirty and Django Unchained.

Loeb is one of Wall Street’s most successful and toughest activist investors, buying up big stakes in companies and agitating for changes, sometimes through proxy battles and other hard-nosed tactics. He has recently made about $1 billion by shaking things up in Silicon Valley and Yahoo, getting the CEO to resign and helping to replace him with Marissa Mayer. When Loeb originally made the investment in Sony, the story line was of Loeb bringing his brash investment style to Japan, which has a corporate culture that has long resisted reforms. But it seems like Loeb has stirred things up more in Hollywood than Japan, which might be part of his plan.

The activist playbook has long been controversial and derided by some for squeezing companies for short-term gains at the expense of long-term value and success. It is a debate that has been going on for decades but has reemerged recently as activist investors have again become prominent on Wall Street. Now, it appears to have caused acrimony between two of the biggest stars in Hollywood and Wall Street.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by it's me on Sat Aug 03 2013, 09:58

He is brave
As usual

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carla97 on Sat Aug 03 2013, 10:27

Yeah Braveheart!

Well something good came out of this. I´ve never given a thought to this company before. I´m thinking this could have been just a stunt to get Sony to headlines. Hmm something´s cooking Smile

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Mazy on Sat Aug 03 2013, 22:04

Carla97 wrote:Yeah Braveheart!

Well something good came out of this. I´ve never given a thought to this company before. I´m thinking this could have been just a stunt to get Sony to headlines. Hmm something´s cooking Smile

George wouldn't be a party to a stunt like this. He doesn't even do stocks. He has said he put his money into his homes, if he needs money he will sell one. He wants nothing to do with stocks.

Does anyone know where George gave the interview? It could have been on Skype so I guess it doesn't matter where he was. Only because we haven't had a location for awhile, you know me.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carla97 on Sat Aug 03 2013, 23:32

Mazy wrote:
Carla97 wrote:Yeah Braveheart!

Well something good came out of this. I´ve never given a thought to this company before. I´m thinking this could have been just a stunt to get Sony to headlines. Hmm something´s cooking Smile

George wouldn't be a party to a stunt like this. He doesn't even do stocks. He has said he put his money into his homes, if he needs money he will sell one. He wants nothing to do with stocks.

Does anyone know where George gave the interview? It could have been on Skype so I guess it doesn't matter where he was. Only because we haven't had a location for awhile, you know me.

Yeah right! Laughing 

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by party animal - not! on Sat Aug 03 2013, 23:39

Well, Mike Fleming says in his report that His Nibs is in Italy, and as a serious piece I think that's true. Our Hero's response was very quick and only the day after Loeb's statement to Sony Corporation. And he said himself this sort of thing drives him crazy

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Mazy on Sun Aug 04 2013, 01:44

party animal - not! wrote:Well, Mike Fleming says in his report that His Nibs is in Italy, and as a serious piece I think that's true. Our Hero's response was very quick and only the day after Loeb's statement to Sony Corporation. And he said himself this sort of thing drives him crazy

Yes and he doesn't do stocks wants no part of them, and this sounds a bit libelous to me.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by ktsue2002 on Sun Aug 04 2013, 02:25

I've got your back, Mr. Clooney!!!

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Nicky80 on Sun Aug 04 2013, 14:35

Mazy wrote:
party animal - not! wrote:Well, Mike Fleming says in his report that His Nibs is in Italy, and as a serious piece I think that's true. Our Hero's response was very quick and only the day after Loeb's statement to Sony Corporation. And he said himself this sort of thing drives him crazy

Yes and he doesn't do stocks wants no part of them, and this sounds a bit libelous to me.

Not sure if I understand correctly. scratch

So Leob gave a statement? Was it a response from George statement? If yes what did he say? I couldn't find anything on google.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carla97 on Sun Aug 04 2013, 17:54

Loeb´s letter or statement to Sony first, then George reacted. It´s been everywhere on financial news. Too lazy to link it but it´s everywhere easy just google.








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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by silly girl on Sun Aug 04 2013, 18:11

From what I understand of it...Loeb made a statement than while GC was being interviewed about MM the interviewer asked him about Loeb as it had to do with Sony. Then GC went into his comments. You are so right Carla about it being all over the internet and twitter. Mostly positive reaction with very very few snarky remarks. Even the little girl who played his youngest daughter in the Descendants made a comment....

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by melbert on Sun Aug 04 2013, 18:15

I read somewhere that some blogger or journalist or whatever is calling George out for his comments and his relationship with President Obama.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Nicky80 on Sun Aug 04 2013, 18:47

Ah ok now I undestand. First I understood that Loeb reacted with a statement on George comments and I couldn't find that online. Would be interesting to know what his reaction will be. If he reacts on that at all.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by party animal - not! on Sun Aug 04 2013, 18:48

Really excellent piece explaining it all in the Daily Telegraph. All you have to do is google 'Clooney' and there it is - and many others

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Nicky80 on Sun Aug 04 2013, 18:52

Yes read most of it online. But now I'm really interested on how Loeb will react to that. He doesn't look good now. Thought there was a comment from him already but misunderstood that.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Pari on Sun Aug 04 2013, 19:04

There is so much to learn all the time... Smile

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Maggy on Sun Aug 04 2013, 19:12

Pari wrote:There is so much to learn all the time... Smile
right,
"live and learn"

Hi, Pari!
Long time no see.
How you been?

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Pari on Sun Aug 04 2013, 19:24

Maggy wrote:
Pari wrote:There is so much to learn all the time... Smile
right,
"live and learn"

Hi, Pari!
Long time no see.
How you been?

Yup thanks Maggy :)Long time, BUT, never far from my thoughts... Smile
Haaaaa as always, me been fat+fit+fine HAHAHAHAHAHAHA I love you

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carla97 on Sun Aug 04 2013, 22:31

Nicky80 wrote:Yes read most of it online. But now I'm really interested on how Loeb will react to that. He doesn't look good now. Thought there was a comment from him already but misunderstood that.

Yes, it is interesting. Other interesting thing is the stock. What will happen to it?

if I round it down to 20 USD

and if it goes up to 30 USD, Loeb will make 33 % profit (not counting other instruments here)

If it goes down to 10 USD, Loeb will make 50% profit (likewise with other instruments)

He is know for shorting. It is easier to take a stock down than make it go up. That´s all I have right now.


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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by mosaic on Mon Aug 05 2013, 13:02


I did a little research on Loeb and he seems to be a disaster capitalist--he bought Greek bonds at 17 cents and then sold them a few months later back to Greece for 34 cents.

Link here:  http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9754460/Dan-Loebs-Third-Point-hedge-fund-makes-500m-profit-from-Greek-bonds.html

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carla97 on Mon Aug 05 2013, 13:41

I don´t want to spread any fear here but people should pay attention the resent history, what he has done.

Sony is different thing, gives him more visibility than let´s say chesaspeake (CHK) which he is also heavily involved in. His persona I mean. He might like that also. He is making profits as long as the stock moves.

If sony misses or guides lower and he writes a letter (again) stating the stock is one POS. It will tank immidiately.

Clearly the stock is manipulated as we speak. And many will ride that, in and out daily bases.


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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by party animal - not! on Mon Aug 05 2013, 14:03

Yep. And I'm perfectly sure Our Hero has researched his background and raison d'etre extremely thoroughly and knew all this before he talked to Deadline.

(Interesting fact - Mr Loeb has a few shares in Deadline too!)

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Carla97 on Mon Aug 05 2013, 14:28

I´m sure of it too. But I´m also sure he knew the effects coming out of this interview... Smile

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by mosaic on Mon Aug 05 2013, 16:02

party animal-not! wrote: Yep. And I'm perfectly sure Our Hero has researched his background and raison d'etre extremely thoroughly and knew all this before he talked to Deadline.

(Interesting fact - Mr Loeb has a few shares in Deadline too!)

Yes, I'm sure he researched this guy, too. Good to know who or what you're dealing with, especially when they start talking smack.

Good find on Loeb owning shares in Deadline. Hmmm....perhaps trying to buy up shares to stifle information...?

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by party animal - not! on Mon Aug 05 2013, 17:41

Yep, he must surely have known the effect such an interview would have. He's certainly woken a lot of people up, and also voiced a lot of others' concerns

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

Post by Mazy on Mon Aug 05 2013, 17:50

I know less than nothing about stocks. But I remember an interview I saw George give and he was asked about stocks. He said that he didn't put money into stocks he didn't want others manipulate of controlling his money. I don't remember his exact words.

However it was as if he didn't trust any of them. He said that he puts his money into his homes and if he needs money he will sell one. He didn't want someone telling him he could not take his money out when he wanted it. Some thing on that order anyway.

Sorry to say I didn't pay much attention. If you want a stock to go down just sell it to me.

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Re: George Clooney To Hedge Fund Honcho Daniel Loeb: Stop Spreading Fear At Sony

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