Ken Heebner made killing shorting Countrywide, Sears

[a529612]

Nov. 28 (Bloomberg) -- Kenneth Heebner, manager of the top- performing CGM Focus Fund, profited from a $477 million bet against Countrywide Financial Corp. and Sears Holdings Corp. as the housing bust hurt mortgage and home-furnishings companies.

http://www.bloomberg.com/apps/news?pid=20601213&sid=a9.V_djjYJg4&refer=home

 

[ozzietrader]

So $477 million was the bet, how much did he earn, do you know?

 

[JimmyJam]

That Ken, he's such a genius.

JJ

 

[Red_Ink_inc]

Quote from ozzietrader:

So $477 million was the bet, how much did he earn, do you know?

Click on the link and read the 2nd paragraph.

 

[ozzietrader]

Quote from Red_Ink_inc:

Click on the link and read the 2nd paragraph.

My bad.
Thanks.

 

[a529612]

Isn't his a mutual fund? How can he make big bet on the short side?