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Article: Legendary trader takes hit; Tech firm's slide bites Tom Baldwin.(Nhancement Technologies Inc. )(Brief Article)
- Article from:
- Crain's Chicago Business
- Article date:
- January 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Stock investing is supposed to be less risky than commodities trading. Lucien Thomas Baldwin III, a LaSalle Street legend, is finding out that's not always the case.
The former master of the Treasury bond pit is an investor-a huge one-in a tech-related firm whose stock has plunged some 80% in two months, shriveling the value of Mr. Baldwin's 3.7 million-plus shares. On paper, he's down tens of millions of dollars.
Just like his staggering appetite for super-sized positions at the Chicago Board of Trade (CBT), Mr. Baldwin's 31% stake in California-based Nhancement Technologies Inc. has caused a few jaws to drop.
When he was named an Nhancement ...