Wednesday, July 18, 2007

Bear Stearns Says Battered Hedge Funds Are Worth Little

Bear Stearns told clients in its two battered hedge funds late yesterday that their investments, worth an estimated $1.5 billion at the end of 2006, are almost entirely gone.

http://www.nytimes.com/2007/07/18/business/18bond.html?ex=1185422400&en=5a30706d0cab857e&ei=5070&emc=eta1

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