All-In Podcast

Industry veterans, degenerate gamblers & besties Chamath Palihapitiya, Jason Calacanis, David Sacks & David Friedberg cover all things economic, tech, political, social & poker.

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

Jun 5, 2026 • 31 mins

Jason Calacanis, Dan Loeb, Chamath Palihapitiya, David Sacks, and David Friedberg engage in a dynamic conversation about Dan Loeb's career trajectory, from his beginnings on message boards to establishing a multibillion-dollar hedge fund. They explore the early days of Third Point, discussing influential mentors and navigating market challenges. The dialogue transitions to Loeb's strategic shift from event-driven investing to focusing on quality and AI. The intricacies of short selling and a notable homebuilder trade are dissected. Social issues come to the fore with Dan's advocacy for criminal justice reform and efforts toward a pardon for Ross Ulbricht.

Key Points

Short selling has re-emerged as a critical strategy in the current bond and credit pickers market.
Dan Loeb's investment philosophy has evolved from focusing on cheap securities with catalysts to prioritizing companies with strong management and durable moats.
Criminal justice reform and educational equality are essential areas where public and private sectors can collaborate for substantial societal impact.

Speakers

Dan Loeb

Guest • 80%

Jason Calacanis

Host • 6%

Chamath Palihapitiya

Host • 8%

David Friedberg

Host • 3%

David Sacks

Host • 3%

Chapters

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

Transcript

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