Investor Loses $1.13 Billion On Bear Stearns

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  • Vendot
    Confirmed User
    • May 2002
    • 3376
    #1

    Investor Loses $1.13 Billion On Bear Stearns

    http://www.bloomberg.com/apps/news?p...ef=patrick.net

    The top investor, Joseph Lewis (a fellow Londoner), lost $1.13 Billion after paying $107 per share and buying 9.7% of the bank. He lost half his fortune.

    There's no UK equivalent for the US expression "well dayum" but.... if ever there was a justification for diversification, this is it!
    Last edited by Vendot; 03-18-2008, 03:32 PM.
    "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell
    Tags: None
    • Drake
      Hello world!
      • Mar 2003
      • 12508
      #2
      Ouch....

        Comment

        • crockett
          in a van by the river
          • May 2003
          • 76818
          #3
          As long as the stock is still active, he didn't lose the money. It will eventually come back. He only loses it if he sells while it's down, or they kill the stock. You never make or lose anything in the stock market until u cash out.
          In November, you can vote for America's next president or its first dictator.

            Comment

            • notoldschool
              Confirmed User
              • Aug 2007
              • 5687
              #4
              That hurts. Kinda like a bad divorce.
              No doubt one may quote history to support any cause, as the devil quotes scripture.
              -- Learned Hand

              http://www.bjpenn.com

                Comment

                • Vendot
                  Confirmed User
                  • May 2002
                  • 3376
                  #5
                  Originally posted by crockett
                  As long as the stock is still active, he didn't lose the money. It will eventually come back. He only loses it if he sells while it's down, or they kill the stock. You never make or lose anything in the stock market until u cash out.
                  True....... but it must be painful as hell.
                  "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

                    Comment

                    • Vendot
                      Confirmed User
                      • May 2002
                      • 3376
                      #6
                      Originally posted by notoldschool
                      That hurts. Kinda like a bad divorce.
                      Well in a divorce the wife normally gets half and he has lost the value of half his fortune so i guess it could be a good analogy.
                      "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

                        Comment

                        • Jens Van Assterdam
                          The Dupre Pimp
                          • Feb 2008
                          • 6677
                          #7
                          wasnt me!
                          Read TOS for signature rules

                            Comment

                            • Iron Fist
                              Too lazy to set a custom title
                              • Dec 2006
                              • 23400
                              #8
                              You feel sorry for this guy? He makes more in one second than I do in a year... who cares. Seriously.
                              i like waffles

                                Comment

                                • L-Pink
                                  working on my tan
                                  • Mar 2005
                                  • 39151
                                  #9
                                  Let's assume Lewis researched his investment before buying 11 million shares, this emphasizes how well BearStearn's books were cooked.

                                    Comment

                                    • chuvii
                                      Confirmed User
                                      • Sep 2006
                                      • 691
                                      #10
                                      falling down for him? sure, he's alive
                                      Mainstream and Adult Design

                                        Comment

                                        • Vendot
                                          Confirmed User
                                          • May 2002
                                          • 3376
                                          #11
                                          Originally posted by sharphead
                                          You feel sorry for this guy? He makes more in one second than I do in a year... who cares. Seriously.
                                          Damn.... you're right, because he earns more than a poxy lowlife like you, we shouldnt give a shit
                                          "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

                                            Comment

                                            • Chio
                                              Confirmed User
                                              • Oct 2002
                                              • 8002
                                              #12
                                              He made his fortune in Forex. Chance favors the prepared mind.

                                              I seo'd my hair yesterday and today it's pr7!
                                              RIP Texas Dreams

                                              Are you a content producer or program owner sick of tube sites? Contact me on ICQ: 39-183769

                                                Comment

                                                • SomeCreep
                                                  :glugglug
                                                  • Mar 2003
                                                  • 26118
                                                  #13
                                                  Originally posted by vendot
                                                  http://www.bloomberg.com/apps/news?p...ef=patrick.net

                                                  The top investor, Joseph Lewis (a fellow Londoner), lost $1.13 Billion after paying $107 per share and buying 9.7% of the bank. He lost half his fortune.

                                                  There's no UK equivalent for the US expression "well dayum" but.... if ever there was a justification for diversification, this is it!
                                                  I love capitalism.

                                                  Webair Hosting

                                                  I use and recommend Webair for hosting.

                                                    Comment

                                                    • woj
                                                      <&(©¿©)&>
                                                      • Jul 2002
                                                      • 47880
                                                      #14
                                                      Originally posted by crockett
                                                      As long as the stock is still active, he didn't lose the money. It will eventually come back. He only loses it if he sells while it's down, or they kill the stock. You never make or lose anything in the stock market until u cash out.
                                                      Dude, he lost it, it will now take 20 years to get back to 107 from where it's now...
                                                      Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000
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                                                        • directfiesta
                                                          Too lazy to set a custom title
                                                          • Oct 2002
                                                          • 30195
                                                          #15
                                                          Originally posted by crockett
                                                          As long as the stock is still active, he didn't lose the money. It will eventually come back. He only loses it if he sells while it's down, or they kill the stock. You never make or lose anything in the stock market until u cash out.
                                                          Tell that to the bank if you borrowed on them ( margin )....

                                                          This guy probably didn"t because he is rich ( well half rich ..), but for most, the phone would have been ringing at 9:00 AM, and it wouldn't have been at the whitehouse ....
                                                          I know that Asspimple is stoopid ... As he says, it is a FACT !

                                                          But I can't figure out how he can breathe or type , at the same time ....

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