Kirk kerkorian, majority owner of MGM Grand from time to time since he spun it off from movie studio Metro-Goldwyn-Mayer back in 1980, has been raising his stake again in the casino operator. In September 1997 he bought out boxing promoter Don King's stake for $28 million, at $44.50 a share. Since then the stock market as a whole has climbed 24%, but MGM Grand shares have sunk 35% to a recent $27.75. It seems that Kerkorian's timing is a little off. Has this fabled billionaire lost his touch?
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