Bear Stearns Investors Await Tally on Losses
By E.S. Browning
Investors in two Bear Stearns hedge funds will have to wait until as late as July 16 to learn how much money they have lost.
The Wall Street firm has had difficulty calculating the funds' fair value, apparently because many of the mortgage-related securities they hold are thinly traded and the market for them has been volatile.
"In light of the Funds' circumstances, this process is more time-consuming than in prior periods," Bear's asset-management arm said in a "Dear Investor" ...
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Edited by zedor, 02 July 2007 - 05:03 AM.
