Banking, finance, and taxes
Bear Stearns (BSC) Investor Loses $800 Million
Published:
Joe Lewis, a British billionaire, has lost $800 million from investing in Bear Stearns (NYSE: BSC). Lewis has almost 10% of the brokerage company’s shares.
According to the Times ‘The huge paper losses could force Lewis to sell out of some of his other positions, according to traders, in order to meet margin calls from his lending banks."
Lewis still has the money to buy a tin cup.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
