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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (198638)	10/18/2002 5:10:45 PM
From: stomper	Respond to of 436258

The First Fund Failure I assume you read this already. Wait until Fido plays the no redemption clause. -g- Finally, the tidal wave is starting to hit. Beacon Hill hit by huge bond losses – WSJ by Greg Morcroft Beacon Hill Asset Management LLC, a large player in the bond hedge fund business, has told investors it's closing down its biggest hedge funds after suffering losses of up to 50 percent, or $400 million, the Wall Street Journal reported Friday. According to the report, the fund is selling its remaining bond positions to avert further losses and avoid threatening the entire firm. It's also preventing investors from withdrawing their investments. The report said the terms of the investors' agreements with the fund allow it to forbid withdrawals for up to six months. The report quoted a letter from the firm to investors last week saying "we regret to inform you that our review suggests that the losses of the fund were greater than initially reported." capitalstool.com