The Bear has More Fleas

July 31, 2007 |

The Wall Street Journal is reporting that another Bear Sterns hedge fund is in trouble …

Bear Stearns Cos., already forced to shut two hedge funds that bet heavily on the risky subprime-mortgage market, is now facing big losses in a third fund that has roughly $900 million in mortgage investments, according to people familiar with the matter.

The fund, known as the Bear Stearns Asset-Backed Securities Fund, ran into trouble in July and has refused to return investors’ money for the moment, according …  [Note: you have to have a subscription to view the entire article].

Does this mean the bonuses won’t be so generous this year?

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