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Okumus funds hit by bad bets in retail, commercial services

January 30, 2008  



Losses in December topped off an extremely difficult year for Ahmet Okumus' Okumus Capital. In part due to wrongsided bets on retail and commercial services, the firm's equity strategies ended the year in negative territory for the first time since Okumus' founding in 1997.

The steep declines - including a loss of 26.32% for the $465.7 million Okumus Opportunity strategy and...

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