Feel the pain

It was reported today that United Capital CEO, John Devaney, whose Horizon ABS Fund has been hit hard by subprime mortgage woes, is putting up for sale his 142-foot yacht for $23.5 million and a second home for $16.5 million.

Times are getting hard.

posted by John Wilson @ 11:15 AM Permanent Link newsvine reddit


At 1:16 PM, Blogger Hawkeye said...

Clearly not so bad as you are perusing the for sale ads and are able to inform of us of exactly what you are considering purchasing. As the original Rothschild said, "The time to buy, is when the blood is running in the streets!" Of course he most likely said it in French, but you know what I mean.

At 11:20 PM, Anonymous Anonymous said...

A significant mystery. Who is the investor in the devaney fund that is holding 25% of the fund. Rumor at our trading desk is that it is the husband of Diane Feinstein.


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