Immersing yourself in a hobby, such as gardening or golf, can often be an excellent way to relieve stress and work-related anxiety. But if you're a shareholder of Bear Stearns (NYSE: BSC) who has just witnessed the collapse of a hedge fund requiring that the company put up $1.6 billion to bail it out, you might prefer that the CEO would spend some extra time at the office. But according to The New York Times, the company's CEO James Cayne is sticking with golf, thank you very much:

On June 14, the day when Bear Stearns reported a 10 percent drop in its operating earnings for the second quarter, Mr. Cayne played a round and shot a 96 ... The next day, a Friday, he played again.

On Thursday, June 21, as several big banks pressured Bear Stearns to increase the collateral on loans they had made to its sinking fund, Mr. Cayne was back on the course. That day, he shot a 98.

The next day, in the biggest rescue of a hedge fund in almost a decade, Bear Stearns pledged to put up $3.2 billion to bail out its fund. (It later said that $1.6 billion would suffice.) Then the remarkably consistent Mr. Cayne played golf, shooting a 97.

Of course a company spokesperson said that Cayne flies down after work on Thursdays and plays an evening round of golf. On Fridays, he plays a round near his home, staying in touch with the company's office.

Hmm ... I wonder if Tiger Woods trades stocks to get his mind off work when his golf game isn't going so well. I somehow doubt it.