Bono A Great Singer, But Bad Investor?

Bono’s investment in Elevation Partners and through it in Palm Inc. (PALM) may show that one cannot excel in everything. Being a great singer does not necessarily mean a successful investors. Yet, celebrities always look for ways to manage and increase their earnings in a smart way.

Bono, the famous singer of U2, is involved in the investment company Elevation Partners, Argent reports. He sees one of Elevation Partners’ major investments in Palm Inc. making some headlines these days.

As reported this morning Palm is seeking a buyer. Now the rumor is that it may pass under the control of an Asian group HTC or Lenovo.

This news helped Palm yesterday on NASDAQ. Yesterday it jumped from 5.16 closing at 6.04. However, today PALM lost 14.57 percent of its share price from yesterday’s close and closed at 5.16 again.

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Written By James Huliq

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