Will Dan Loeb's $1 Billion Yahoo Bet Pay Off?
by Saibus Research
On July 16, Yahoo (YHOO) announced the hiring of Marissa Mayer as CEO to replace Scott Thompson. We were disappointed that Thompson had left the company because Dan Loeb of Third Point was tired of Thompson misrepresenting his educational background. Third Point had entered into its Yahoo position in Q2 2009 and, considering how Yahoo has been a dreadfully dead-money underperformer in that time period, we can see why every misstep on the part of Yahoo makes Dan Loeb cranky. Loeb owns 6% of the shares and it represents 33.5% of his portfolio. read more »
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