1.0 link 91839 <![CDATA[Billionaire Lewis Loses $1.16B On Bear Stakes]]> http://www.huffingtonpost.com/2008/03/17/billionaire-lewis-loses-1_n_91839.html Joseph Lewis, the billionaire investor who bought 9.4 percent of Bear Stearns Cos. last year, lost $1.16 billion on his stake after JPMorgan Chase & Co. agreed to buy the securities firm for $2 a share.

Lewis, the New York-based firm's second-largest holder, paid an average of about $107 apiece for 11 million shares, according to a filing submitted last year to the Securities and Exchange Commission. The stake has plunged 98 percent in value since the purchases. Bear's biggest investor...

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