Hedge fund manager Dan Loeb credited an unconventional method for his success in the financial industry.
Bloomberg Businessweek reported that Loeb, the founder and CEO of New York-based Third Point, said at an American Enterprise Institute panel discussion on Thursday that meditation is good for business. He explained in-depth that “choices [don’t] just come from what’s going to create a favorable outcome but, as the Dalai Lama said, to make sure we make decision that so no harm that are consistent with a moral framework.”
Third Point, which returned about 26% last year, makes investments that often rely on forcing management and boards to make changes that boost shares and returns, including sending letters to executives bemoaning perceived corporate failures.
Billionaire investor Ray Dalio of Connecticut-based Bridgewater Associates has also been vocal about meditation’s contribution to his success.