One of the hedge fund industry’s more colorful characters may be feeling a bit blue on a bet that’s been bad. The hedgie in question is Robert Chapman, who has a penchant for descriptive language that is likely to bite people – he reportedly once referred to a the elderly chairman of a company as a “helpless Mr. Magoo-like figure,” referring to the old-time myopic cartoon character. But Chapman at the moment seems to be bitten himself. The Wall Street Journal reports that Chapman this year acquired a 7.3% stake in computer chip maker Vitesse Seminconductor. He reportedly bet that he could make a nice profit if he could force the company to sell itself. It hasn’t been easy, and a recent conference call presenting a gloomy future for the company has led to share value plummeting 40%. Observers suggest Chapman would have gotten a lot further in his sale pitch if he had held back on his expletives and his abrasive tone (The Journal says he referred to former executives of the company in question as “the three stooges” who made money “out of the skulls of shareholders”). If Chapman does end up taking a bath on the bet, it would be rarity for a hedge fund manager who was able to make annual gains of average 20% even in a bear market.