- Oct 12, 2006
- 1,974
- Boat Info
- "On Vacation"
2006 40 Sundancer
Raymarine E125 & HD Radar + Garmin 5208
- Engines
- QSB5.9 380 Cummins
I also plan to be on my yacht when I lose $1Billion
Copyright wsj.com, 2008
Joe Lewis Takes On Water
Today, Joe Lewis is known as the guy who lost hundreds of millions of dollars in one weekend. But before the Bear Stearns debacle, he was known as the fastest trader on the high seas.
According to business associates, Mr. Lewis spends a good deal of time on his yacht, even though his official residence is Lyford Cay in the Bahamas. People who’ve visited say that aside from the usual amenities — such as a dining room and putting green for him and pal Tiger Woods — the boat is equipped with a fully functional electronic-trading floor. (This is Mr. Lewis’s second boat of the decade: His 200-plus footer, Aviva, was sold after being damaged in a 2001 fire crossing the Red Sea. For pictures of the new Aviva, see Diane Byrne’s summary on the Power & Megayacht site.)
The on-board trading system is “very sophisticated,” one visitor told me. “He’s got rows of flat screens, desks, high-speed data transmission, the whole set-up.”
Said another visitor: ”He said he liked to move with the good weather. He was proud of the fact that he could trade just as well in the middle of the Mediterranean as he could on Wall Street.”
Well, almost as well: His $1 billion bet on Bear didn’t turn out to be as prescient as some of his other market calls. But Mr. Lewis still has $2 billion left (at least according to Forbes), so the loss isn’t likely to cramp his boating style.
Copyright wsj.com, 2008
Joe Lewis Takes On Water
Today, Joe Lewis is known as the guy who lost hundreds of millions of dollars in one weekend. But before the Bear Stearns debacle, he was known as the fastest trader on the high seas.
According to business associates, Mr. Lewis spends a good deal of time on his yacht, even though his official residence is Lyford Cay in the Bahamas. People who’ve visited say that aside from the usual amenities — such as a dining room and putting green for him and pal Tiger Woods — the boat is equipped with a fully functional electronic-trading floor. (This is Mr. Lewis’s second boat of the decade: His 200-plus footer, Aviva, was sold after being damaged in a 2001 fire crossing the Red Sea. For pictures of the new Aviva, see Diane Byrne’s summary on the Power & Megayacht site.)
The on-board trading system is “very sophisticated,” one visitor told me. “He’s got rows of flat screens, desks, high-speed data transmission, the whole set-up.”
Said another visitor: ”He said he liked to move with the good weather. He was proud of the fact that he could trade just as well in the middle of the Mediterranean as he could on Wall Street.”
Well, almost as well: His $1 billion bet on Bear didn’t turn out to be as prescient as some of his other market calls. But Mr. Lewis still has $2 billion left (at least according to Forbes), so the loss isn’t likely to cramp his boating style.
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