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Daniel Loeb Bailey McCann, Opalesque New York:

"Our portfolio is structured to reflect the unfortunate, ongoing reality of decaying Western democracies staving off catastrophe with Advil and bandages when multiple, complex surgeries are the only way to save the patient long term," writes Daniel Loeb, CEO of activist New York-based hedge fund Third Point in a year-end letter to clients, obtained by Opalesque.

Loeb, is known for his strong opinions on everything from finance to politics. His letter stayed true to that reputation, as he aired concerns over the election year realities of both the US and the EU. He noted newly positive economic numbers in the US - specifically in housing and jobs - but warned that a second term for President Obama could result in economic catastrophe by 2013 and beyond.

"Regardless of one's political belief's it is hard to deny that the unabated policies of a second Obama Administration would lead the country down an unsustainable path of exploding deficits and marginal private sector growth," he writes.

He goes on to raise concerns about the impact of potential tax increases, 'haphazard' regulation and redistributive policies. Loeb seems more bullish on the European front, noting that Europe is slowly healing now that the Greek debt restructuring is going forward. He notes that the French election outcome will be one to watch as French Presidential candidate Hollande has indicated that he would not sign Fra......................

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