Dan Loeb: The Lost Art of Short Selling, and Why Stock Picking is Back

Dan Loeb: The Lost Art of Short Selling, and Why Stock Picking is Back Dan Loeb: The Lost Art of Short Selling, and Why Stock Picking is Back (0:00) Dan Loeb joins the Besties! (0:34) Investor journey: From message boards and trolling Wall Street to a multibillion dollar hedge fund (3:15) Third Point's early days: mentors and market turmoil (8:47) Strategy shift: Event-driven to quality and AI (16:01) The art of short selling and a homebuilder trade (22:15) Criminal justice reform and the Ross Ulbricht pardon Thanks to our partners for making this possible! EY - Agentic AI is introducing a new investment discipline. As AI shifts to consumption-based models, EY connects spend to enterprise value. https://www.ey.com/en_us/insights/ai/agentic-ai-token-costs?WT.mc_id=3501318&AA.tsrc=sponsorship NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE. https://www.nyse.com Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight. https://www.plaud.ai Follow Dan Loeb: https://x.com/DanielSLoeb1 Apply for Summit 2026: ⁠https://allin.com/events⁠ Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect #allin #tech #news of course is the CEO and CIO of Third >> The lost art of shortselling has come stock pickers market. This is a bond and And really shortly that thereafter uh long before Reddit or any of these other >> Well, some people use the term OG. Sometimes I say I was the OT. Um on the short side. I mean, there's so Act Trade that I remember run by a guy created a new technology called TADS I don't remember what TAD stood for, but AUM. your multistrat, but you learned at books and make cold calls. And I think passed. I would trade um options on >> Yeah. Ran the ARB desk there and he had depressed projections and ride along not just the um well we got to ride along a margins and roe and everything else until the GFC I think you could be more working as a a sales rep for wireless RF ABG compatible for Wi-Fi base stations. long short credit is both structured credit and high yield. We have a CLO did. We did a PNC company, but this one revenue so maybe could you tell us how know IBM or you know some of the other >> AOL >> AOL Well, Yahoo, you know, you say the opportunities on the short side in the long time how do you start top down is by shorts that have dumb valuations, but were all pretending to be NVR which is and buyers are no longer able to pay been short on things related to that. or you know more robust revenue. sold all our stock in the 20s. Huge in in Nphase and we um sold some stock stock I think had we stayed on would on a board and you can't sell and you just hold on to that stock forever. like the upside was to 100. And things its dominant position and its valuation >> Yeah, absolutely. On earnings over the the long short pods are structured such that they have to be short something. So Nvidia feels like a safe short by the way Google was a safe short um Amazon was a safe short. So I mean this just

Dan Loeb: The Lost Art of Short Selling, and Why Stock Picking is Back Dan Loeb: The Lost Art of Short Selling, and Why Stock Picking is Back (0:00) Dan Loeb joins the Besties! (0:34) Investor journey: From message boards and trolling Wall Street to a multibillion dollar hedge fund (3:15) Third Point's early days: mentors and market turmoil (8:47) Strategy shift: Event-driven to quality and AI (16:01) The art of short selling and a homebuilder trade (22:15) Criminal justice reform and the Ross Ulbricht pardon Thanks to our partners for making this possible! EY - Agentic AI is introducing a new investment discipline. As AI shifts to consumption-based models, EY connects spend to enterprise value. https://www.ey.com/en_us/insights/ai/agentic-ai-token-costs?WT.mc_id=3501318&AA.tsrc=sponsorship NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE. https://www.nyse.com Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight. https://www.plaud.ai Follow Dan Loeb: https://x.com/DanielSLoeb1 Apply for Summit 2026: ⁠https://allin.com/events⁠ Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect #allin #tech #news of course is the CEO and CIO of Third >> The lost art of shortselling has come stock pickers market. This is a bond and And really shortly that thereafter uh long before Reddit or any of these other >> Well, some people use the term OG. Sometimes I say I was the OT. Um on the short side. I mean, there's so Act Trade that I remember run by a guy created a new technology called TADS I don't remember what TAD stood for, but AUM. your multistrat, but you learned at books and make cold calls. And I think passed. I would trade um options on >> Yeah. Ran the ARB desk there and he had depressed projections and ride along not just the um well we got to ride along a margins and roe and everything else until the GFC I think you could be more working as a a sales rep for wireless RF ABG compatible for Wi-Fi base stations. long short credit is both structured credit and high yield. We have a CLO did. We did a PNC company, but this one revenue so maybe could you tell us how know IBM or you know some of the other >> AOL >> AOL Well, Yahoo, you know, you say the opportunities on the short side in the long time how do you start top down is by shorts that have dumb valuations, but were all pretending to be NVR which is and buyers are no longer able to pay been short on things related to that. or you know more robust revenue. sold all our stock in the 20s. Huge in in Nphase and we um sold some stock stock I think had we stayed on would on a board and you can't sell and you just hold on to that stock forever. like the upside was to 100. And things its dominant position and its valuation >> Yeah, absolutely. On earnings over the the long short pods are structured such that they have to be short something. So Nvidia feels like a safe short by the way Google was a safe short um Amazon was a safe short. So I mean this just

Anthropic's Fable Backlash, Nationalizing AI, Inflation Heats Up & California’s Broken Elections

Transcript is a partial/garbled excerpt from an “All-In Best Ideas Pitch Competition” segment. The only clearly actionable security discussed is MGM Resorts (MGM). The speaker is bullish based on: (1) a strategic/financial buyer accumulating shares (implied to be a large holder), (2) extremely aggressive company buybacks (claiming ~half the float over ~6 years), and (3) “hidden assets” tied to Macau/China exposure (MGM China), with an implied large valuation gap (speaker suggests the stock could be worth materially more, even “a triple”). Other mentions (Caesars, SACE, energy-efficiency retrofits) are not coherent enough to produce a tradable thesis with confidence.

Low-signal transcript-style political discussion referencing bipartisanship, “money in DC,” claims about opposition groups aligned with China/CCP, and multiple mentions of data centers and trade unions/jobs (Pennsylvania context implied). No concrete policy proposal, bill, vote, or company named; therefore limited direct trade actionability.

Noisy, partial transcript. Core actionable ideas appear to be: (1) the US faces a “critical minerals” supply shortfall (implicitly tied to China/trade restrictions), (2) AI/compute growth is driving a resurgence in CPU/compute intensity and tightness in memory (HBM/NAND) pricing, and (3) rising power demand may favor reliable gas-fired generation vs intermittent renewables, while solar remains a separate growth vector. Specific companies are not named; tickers below are inferred, so confidence is moderate-to-low.

The source is a low-quality/garbled transcript with only a few discernible investable points: (1) a thesis that Google could "crush" AI competitors (implying platform/data/distribution advantage), (2) a general claim that smaller VC funds can outperform (not directly tradable), and (3) a macro/policy aside about weakening CDC/NIH and restricting H1B immigration, which could be a headwind to US biotech R&D and innovation labor supply. Overall, actionable signal is limited and mostly narrative-level.

"Analytical Software Is Dead" - Palo Alto Networks CEO Nikesh Arora very long time. of in a really interesting position to of SAS. come out with other models. You buy You buy the hype. >> I mean, you saw IBM announced a project know, OT code on the edge. You can find you talk to CIOS today, their biggest Fix it." while the CIS are busy finding companies like the SAS businesses that SAS? >> Well, you see SAS is Bill said SAS is an analytical SAS company, it's over. >> It's over. What is an analytical SAS every SAS company has a marketplace. You can buy Salesforce marketplace. What do >> I can just go run NLM against the data. instance with a SAS product with 20 my, you know, inventory data from SAP. I selling a lot? Where do I have less different SAS products tomorrow you can SAS is dead are marginally irrelevant will take away UI and let agents do the work. UI enterprise software and consumer software UI is the worst thing >> Yes. That was analytical SAS. So that's product managers design UI so all humans can interact with data behind the UI. to be able to do it. If that happens UI goes away. If UI goes away, I can rewire in a company all these SAS software that >> it's less about

The provided source contains only a title with no substantive claims or data. It suggests a discussion about secondary markets taking share from traditional IPOs, but there are no specifics (mechanisms, companies, numbers, timing) to extract tradable implications.

The IPO Comeback: Why Tech Giants Are Finally Going Public | All-In Liquidity IPO Panel (0:00) CEOs Andrew Feldman (Cerebras) and Will Marshall (Planet Labs) join the Besties! (2:05) Both CEOs on going public: Impact on employees, customers, and business operations (13:18) Timelines for datacenters in space (19:28) Cerebras business breakdown, AI's impact on the silicon market (24:45) How Founder/CEOs think about liquidity on the road to going public Thanks to our partners for making this possible! EY - Great tech starts with a big idea. From startup to scale, EY helps tech founders get financials right early so they can focus on what’s next. https://www.ey.com/en_us/tech-sector/tech-startups?WT.mc_id=3501317&AA.tsrc=sponsorship NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE. https://www.nyse.com Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight. https://www.plaud.ai Follow Brad Gerstner: https://x.com/altcap Follow Andrew Feldman: https://x.com/andrewdfeldman Follow Will Marshall: https://x.com/Will4