Okumus abandons then stays with Bear after all

Mon Mar 31, 2008



As rumors of Bear's impending demise the week of March 10 became a self-fulfilling prophecy, hedge funds did their best to distance themselves. But then, after JPMorgan came to the rescue, at least one fund reversed course.

On March 14, Okumus Capital wrote that it had ensured the "safety of our investor assets" by moving "all of the excess cash out of the account at Bear Stearns" and transferring it to new...

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