The recent exchange between Hollywood heavy weight George Clooney and hedge fund industry heavyweight Dan Loeb about the Sony Corporation is laughable. What is even funnier is that Ashton Kutcher got involved with commentary on the situation in an interview on CNBC. Next up Betty White is going to chime in and perhaps if we are lucky, a hedge fund industry commentary will add his two cents.
Simply put, movie stars need to stick to making movies and hedge fund folks need to stick to making money. While I have not met either of the men, I will say that I am a fan of both of their work. On Mr. Clooney’s side, I particularly like Ocean’s 11, Up in the Air and The American; as for Mr. Loeb, well I am truly impressed with his investment prowess. However when it comes to Clooney commenting on Loeb’s work; I think it is outrageous and offensive. Clooney along with all artist commentators need to stick to things that they are experts in like film and music and leave investing to the investment professionals. This recent exchange is just one of many examples of a phenomenon that has occurred as of late – where movie stars, recording stars and other artists add their two cents to issues of the day.
The time has come to STOP listening to actors, actresses and musicians’ commentary and so called insight on anything but acting, music and art. There is nothing sillier then when someone with a bit of fame and fortune sticks their nose into a place where it does not belong. Mr. Clooney’s comments on the actions of Mr. Loeb are a clear case of this and frankly it is wrong.
Companies need to be responsive to shareholders questions, comments and concerns. Management is responsible to all shareholders and needs to act in their best interest at all times. Anything else is unacceptable. In this case it looks like the shareholders may have lost out and that is a pity.
So, simply put, and apart from any consideration regarding the accuracy of Mr Clooney comment, one would not be able to express a comment or doubt of any sort other than on his/her job’s only related matters ?
I found this a little bit restrictive and frankly, accepting and debating from external point of views or specialist from one domain often revealed to be constructive, if not decisive.
What about people voting ? Do you think we all are aware about the detailed matters regarding politics ?
By Alex on 2013 08 16