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David Stanley Ford

Big names losing big money, too

BY The Associated Press    Comments Comment on this article3
Published: November 4, 2008

NEW YORK — Here’s something that might provide a bit of solace amid the plunging values in your retirement accounts: Warren Buffett is losing lots of money, too. So are Kirk Kerkorian, Carl Icahn and Sumner Redstone.


Rupert Murdoch

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They are still plenty rich, but their losses — some on paper and others actually realized — illustrate how few have been spared in today’s punishing market.

The portfolio damage for some of these high-flyers has soared to billions of dollars. And they can’t just blame the market’s downdraft — some did themselves in with badly timed stock purchases or margin calls on shares bought with loans.

"It’s always hard to beat the market no matter who you are,” said Robert Hansen, senior associate dean at Dartmouth’s Tuck School of Business. "But when the ocean waters get that rough, it is hard for any boat to avoid getting swamped.”

According to new research by compensation consulting firm Steven Hall & Partners, Buffett tops the list, followed by Oracle CEO Larry Ellison. Rounding out the top five were Microsoft’s Steve Ballmer, Amazon.com’s Jeff Bezos and News Corp.’s Rupert Murdoch..

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David Stanley Ford




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lol ROGER have you ever had to go an entire day without a meal?
Gary, Oklahoma City - Nov 5, 2008 at 9:09 am
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Gary you sound like a Socialist...lol
ROGER, MOORE - Nov 4, 2008 at 4:49 pm
Considering over 1 billion children live in poverty, I don't feel too bad for these guys.
Gary, Oklahoma City - Nov 4, 2008 at 2:37 pm
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