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Post  ak1971 on Mon Mar 17, 2008 7:01 pm

How'd would you like to have this guys Monday?

Lewis takes $1 billion hit from Bear Stearns

LONDON (Reuters) - Even the most successful investors can get it horribly wrong, as reclusive British tycoon Joe Lewis has just found out.

The septuagenarian British billionaire currency trader last year built a stake approaching 10 percent in Bear Stearns (BSC.N), a U.S. investment bank weakened by the subprime crisis and widely seen as a takeover target.

The speculation was half right. JP Morgan (JPM.N) set a deal to buy the stricken bank over the weekend, but at a knockdown $2 a share, implying a loss for Lewis of more than $1 billion
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Post  PoWdA on Mon Mar 17, 2008 7:02 pm

ak1971 wrote:How'd would you like to have this guys Monday?

Lewis takes $1 billion hit from Bear Stearns

LONDON (Reuters) - Even the most successful investors can get it horribly wrong, as reclusive British tycoon Joe Lewis has just found out.

The septuagenarian British billionaire currency trader last year built a stake approaching 10 percent in Bear Stearns (BSC.N), a U.S. investment bank weakened by the subprime crisis and widely seen as a takeover target.

The speculation was half right. JP Morgan (JPM.N) set a deal to buy the stricken bank over the weekend, but at a knockdown $2 a share, implying a loss for Lewis of more than $1 billion
Yeah that is just a little hit Shocked
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Post  Mondogarage on Mon Mar 17, 2008 10:44 pm

Worst part is, he was ahead on the turn. affraid
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Post  PoWdA on Mon Mar 17, 2008 10:46 pm

Mondogarage wrote:Worst part is, he was ahead on the turn. affraid
Yeah he trades on Pokerstars Very Happy
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Post  dexman1349 on Mon Mar 17, 2008 10:55 pm

PoWdA wrote:
Mondogarage wrote:Worst part is, he was ahead on the turn. affraid
Yeah he trades on Pokerstars Very Happy

And lost to a A-6, because they were Sooted!!!
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Post  Wetdog on Tue Mar 18, 2008 9:16 am

Rigged obviously.
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