Like Jimmy Cayne, Chairman of Bear Stearns. He lost about $1 billion during the 6 months before Bear Stearns went under.
...they weren’t as smart as they thought they were.
Like I said, thanks for admitting your error.
I think Mr. Cayne took some profits...no?
Bear Stearns’s stock may be hitting new 52-week lows, but the firm’s chairman just put the finishing touches on a high-flying real-estate deal.
The chairman, James E. Cayne, paid $25.8 million for a 14th-floor apartment in The Plaza, the storied New York hotel recent converted into high-end condominiums, city records show. Last month, Mr. Cayne closed on a much more modestly priced apartment on the same floor of the Plaza, for which he paid $2.4 million. Together, the units cost Mr. Cayne and his wife, Patricia, more than $28 million, according to city records.