The article is incomplete.
I have to do my homework, but a few months ago, while reading the above news about the Palm, there was another article about how Bono's investments soared. In other words, one flopped and one took off. I just cannot remember what it was.
Bottom line, like most investors, some things work, some don't. I'm sure he's got counter-balances to his losses. Even the mighty Donald Trump stumbled several times (and with real estate crashing again, Trump's portfolio probably took another hit).