Billionaire Joe Lewis still long BSC @ 110?

[zdreg]

Quote from Landis82:

Pabst, a buddy of mine was a high level trader at the Quantum Fund for a number of years. He said that no one could every figure out if Rogers actually traded because no one knew where he cleared out of. Suffice to say, they all thought that he simply took his partnership "split" from Soros in 1980 and put it into muni's.

He's great at marketing himself.
The book, the trips around the world, the motorcycle rides, the appearances on CNBC, putting his name on a commodity pool fund ( Beeland ) and creating some commodity indexes.

He's a great marketer.
I do give him that.

But trading?
I have my doubts.

he never claimed to be a trader he is a LT investor.
did you check the track record of his off shore funds.
have you kept track of his predictions.

envy knows no bounds.

 

[Pa(b)st Prime]

Quote from Cutten:

Since Soros is on the record saying otherwise, what makes you say that?

From Market Wizards:

q: Did you and George make independant trading decisions?

a: No. If you broke down the division of labor, he was the trader and I was the analyst.


Now given that Rogers left Quantum 28 years ago I'd say that the Soros componant must have been pretty darn important, eh?

 

[Pa(b)st Prime]

Quote from zdreg:

he never claimed to be a trader he is a LT investor.
did you check the track record of his off shore funds.
have you kept track of his predictions.

envy knows no bounds.

He's been quite right on commodities.

He's also still waiting for stocks to break the 1987 lows and for Bond futures to trade under 50.

IOW's he's no better or worse than any one else out there.

 

[Cutten]

Quote from Pa(b)st Prime:

From Market Wizards:

q: Did you and George make independant trading decisions?

a: No. If you broke down the division of labor, he was the trader and I was the analyst.


Now given that Rogers left Quantum 28 years ago I'd say that the Soros componant must have been pretty darn important, eh?

The issue was not whether Soros was important (duh, no kidding!). You claimed Rogers' sole contribution was marketing. Leaving aside the issue of how on earth a kid in his 20s would be of use marketing a startup hedge fund, Soros said Rogers contribution was big and he came up with lots of great investment ideas. Rogers + Soros made 40% per annum with no down years during a period where the S&P was flat. Soros without Rogers had his first down year, losing over 1/3 of fund assets shortly after he left, and his record since Rogers' departure was inferior, despite 1981 onwards being a gigantic equity bull market, giving the fund a +15% per annum market drift to benefit from.

But please, if you have some facts to show that Rogers only did marketing during his Quantum tenure - or in fact did any marketing at all - all you have to do is cite them.

 

[Cutten]

Quote from Pa(b)st Prime:

He's been quite right on commodities.

He's also still waiting for stocks to break the 1987 lows and for Bond futures to trade under 50.

IOW's he's no better or worse than any one else out there.

Quite right, lol. What would it take for him to have been totally right, in your book? Picking the exact lows in every commodity to the hour? Obviously you have some kind of agenda with Rogers, because you are twisting the facts in a way that is plain for any neutral sane observer to see.

 

[turkeyneck]

Quote from newbunch:

Joe Lewis "isn't bothered by the falling share price." I wish I could lose $800 million and not be bother by it.

No pain, no gain?

 

[Pa(b)st Prime]

Quote from Cutten:

Quite right, lol. What would it take for him to have been totally right, in your book? Picking the exact lows in every commodity to the hour? Obviously you have some kind of agenda with Rogers, because you are twisting the facts in a way that is plain for any neutral sane observer to see.

I have no issue with Rogers at all. In fact I dig the whole farm boy from Alabama persona.

OTH he's a guy who I've heard talk about rising rates for 20 years while Bond prices have been a one way street the other way.

 

[turkeyneck]

Lewis, who started acquiring his Bear Stearns stake in September, was considering adding to his shares, a person close to him said on March 11. Lewis, the British-born, Bahamas-based investor, didn't immediately return a call seeking comment.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aPngPl0BDD1s&refer=home

 

[OldTrader]

Quote from Pa(b)st Prime:

I have no issue with Rogers at all. In fact I dig the whole farm boy from Alabama persona.

OTH he's a guy who I've heard talk about rising rates for 20 years while Bond prices have been a one way street the other way.

You know Pabst, I've followed Rogers a long time. He's been long bonds, and short bonds, at various times. Your statement is completely false.

You and Landis appear to be smoking the same stuff.

OldTrader

Edit: By the way, he is also short the investment banks here. Don't recall if Bear Stearns was included, but chances are it was.

 

[mokwit]

Lewis is known to be close to Cayne. my theory is that he is a nominee and the account he is using is probably funded by someone else. Just a feeling, nothing to subsantiate. From what very little I know of Lewis this huge bet on a listed stock does not ring true. It seems not to be his style.