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How Sears CEO Lampert Cashes in as Stores Cash Out
@Lewis: Your story gave the Lampert slant which gives more detail. I just wanted to let you know this old man can still run with you young pups. Regards, Ted
Wondering if this is a SCAM of all SCAMs. Company comes out and makes negative comments about itself. Then a manager who has been a perma-bull on the stock buys more stock. Forget Lampert for a second. HTF does a manager buy more shares of a stock after the company itself says it sucks? Are we trying to depress the stock so we can buy at lower price?
I own FAIRX and like longstanding "observers" would know, Berko's romantic dalliances with Fartiromo on CNBC pissed me no end, and I took out my original investment. Just like I did with CGMFX but for different reasons. So I'm playing with the house's money, but I'm wondering now if Berko, who last time I deduced, which was few years back owns at least $46 MM in FAIRX has just completely lost it.
@PRESSmUP - I've heard anecdotally that most of that YOUR money in Vegas ends up becoming house money before the holder leaves Vegas. I can neither confirm or deny.
VF...this saga is painful. But, as a frequent visitor to Vegas, I can tell you that there is no such thing as "house money".
Winnings beyond your original buy-in are not house money... it's YOUR money.
Well if I double my money, it is my money, but not like I worked for it. So I take half out, what's left I can be more careless with. So what happens in Vegas does not stay in Vegas fully, I take half out after doubling or take original investment out after whatever and let the remaining run
For a supposedly smart manager like Mr. B, double down on a rapidly decline stock could end baby for his investors.
FYI. I never invest with Fairholme funds.
While everyone has a personal moment, I also believe most active managers that do well are not geniuses but are trading on insider information you and I cannot obtain. It just seems to wierd to me Berko is buying more Sears shares. Not sure if it benefits FAIRX investors, but something's up.
Could SHLD, which stands for Sears Holding Company, be more valuable as a holding company?
BB has often mention (refuted by many) that its "holdings" or "real estate" are worth more than its retail value. This has already proved itself out with Seritage being created from many of SHLD's high end property.
So you have the contents inside of Kmart or Sears stores that, for the most part, hurt other companies (Whirlpool, Samsung, Land End, Carter, and other brands) as they lose all of these roofs over their products. Link: winners-and-losers-if-sears-goes-out-business
When the store is empty of product, you still have the property (building and land) and, in many cases, this land is much more than just the Sears/Kmart footprint. SHLD owns entire Malls and entire Shopping Centers. Some say retail is dead, but....
Now, imagine...In walks this guy named Amazon who wants retail space.
@VintageFreak, All I can say is that Mr. B. is not my kind of manager. I can do better elsewhere while sleep well every night. Sears is just slowly dying unfortunately and each piece with some apparent values are being sold off. Hate to see an iconic company failed to keep up with change of time.
Comments
Regards,
Ted
http://www.mutualfundobserver.com/discuss/discussion/32008/a-chicago-institution-on-life-support
Regards,
Ted
https://www.sec.gov/Archives/edgar/data/1056831/000091957417002936/xslF345X03/p7444766.xml
I own FAIRX and like longstanding "observers" would know, Berko's romantic dalliances with Fartiromo on CNBC pissed me no end, and I took out my original investment. Just like I did with CGMFX but for different reasons. So I'm playing with the house's money, but I'm wondering now if Berko, who last time I deduced, which was few years back owns at least $46 MM in FAIRX has just completely lost it.
Winnings beyond your original buy-in are not house money... it's YOUR money.
FYI. I never invest with Fairholme funds.
BB has often mention (refuted by many) that its "holdings" or "real estate" are worth more than its retail value. This has already proved itself out with Seritage being created from many of SHLD's high end property.
So you have the contents inside of Kmart or Sears stores that, for the most part, hurt other companies (Whirlpool, Samsung, Land End, Carter, and other brands) as they lose all of these roofs over their products.
Link:
winners-and-losers-if-sears-goes-out-business
When the store is empty of product, you still have the property (building and land) and, in many cases, this land is much more than just the Sears/Kmart footprint. SHLD owns entire Malls and entire Shopping Centers. Some say retail is dead, but....
Now, imagine...In walks this guy named Amazon who wants retail space.
Regards,
Ted
Barry Ritholtz: U.S. Stores Are Too Big, Boring and Expensive:
https://www.bloomberg.com/view/articles/2017-03-24/u-s-stores-are-too-big-too-boring-and-too-expensive
Business Insider: The Retail Apocalypse Has Officially Descended On America:
http://www.businessinsider.com/the-retail-apocalypse-has-officially-descended-on-america-2017-3
Retailing USA:
http://docplayer.net/24265641-Mapic-2015-retailing-usa-opportunity-awaits-trust-our-retailntelligence.html