Tuesday, September 11, 2007

Shrewd or insane?

Lewis buys 7% Bear Stearns stake

Currently sub-prime is all the rage and talk is that it will drag the US economy and then the western world into recession. US investment bank Bear Stearns has been heavily hit by sub-prime problems but just when you thought it was safe to say, "I wouldn't touch Bear Stearns with a barge pole" along comes billionaire UK investor Joseph Lewis and buys a 7% stake. Is Lewis seeing something that others are not or is Bear Stearns so unpopularly that it was too good a chance for Lewis to turn down? I just don't understand Lewis' motivation on this one. Thoughts?

Posted by denzil @ 09:38 AM (3036 views)
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3 thoughts on “Shrewd or insane?

  • Cheekie Charlie says:

    Lewis if your listening put your money into Leeds United Football Club! There a steel.

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  • also sold to rent says:

    I assume he thinks the credit crunch is a blip. If the company turns it around and recovers strongly then the shares are currently very cheap, p/e is 8 or something last time I looked.

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  • Today’s return of market confidence in Banking sector just proves that Lewis did the right thing at the right time for himself and the market as a whole.

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