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Foreign Exchange

The Bull buys Bear: Joe Lewis, Bear Stearns

It has been widely reported this week that Joe Lewis, invariably described as the secretive Bahamas-based currency speculator, has taken a 7% stake in Bear Stearns. If other shareholders, who in many cases are a bit like football fans, believe this means he’s about to return the bank to its glory, glory days, they should perhaps take a look at the fortunes of Tottenham Hotspur Football club. Lewis owns a major stake in Spurs, as they are known, but fans’ hopes that this will return the club to the upper echelons of English football have so far failed to materialise and it remains mired in mediocrity. Will Bear Stearns fare any differently?

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