Briton Joe Lewis Could Lose $1B on Bear

The fire sale of Bear Stearns appears to have cost the risk-taking billionaire investor and second largest Bear shareholder $1 billion

The billionaire investor Joe Lewis is often referred to as "The Boxer", a nickname which is both a tribute to a no-nonsense approach to making money and a nod to the legendary heavyweight slugger of the same name. Yesterday, as the astonishing sell-off of the Wall Street bank Bear Stearns made headlines across the world, The Boxer appeared to be lying on the canvas, floored by a sucker-punch that could cost him close to a billion dollars.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.