With its stock down nearly 14% on Friday in response to poor earnings, it looks like a lot of investors threw in the towel on Sears Holdings (NASDAQ:SHLD) last week -- but not Fool contributor Rich Smith.

He threw in the towel on this stock five years ago, when the company had a chance to remake itself as the Made in the U.S.A. store -- and blew it. Now Wal-Mart's (NYSE:WMT) stolen a march on Sears and promised to put $50 billion worth of American-made goods on its shelves over the next 10 years.

For Sears, this looks like the final blow, but it all started with a blown opportunity.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Amazon.com. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.