Dec. 26 (Bloomberg) -- Billionaire investor Joseph Lewis raised his stake in Bear Stearns Cos. for the second time this month while shares of the fifth-biggest U.S. securities firm declined. The 70-year-old high-school dropout first bought a 7 percent stake in September and increased it to 8 percent earlier this month. He now owns 9.6 percent, according to a regulatory filing today. That makes him the New York-based company's largest shareholder, according to data compiled by Bloomberg, ahead of James Barrow, who oversees $50 billion as the president of Barrow Hanley Mewhinney & Strauss in Dallas. http://www.bloomberg.com/apps/news?pid=20601087&sid=aPDIfx61mkjo&refer=home
Lewis sold December 110, 105, 100, 95, and 90 puts and was obviously assigned on his short puts. http://www.sec.gov/Archives/edgar/data/777001/000119312507271081/dsc13da.htm
Maybe so. His adviser in the deal is Bear Stearns. He's dealing with people who sell their own mothers to get ahead.