Have you picked up an article on Sears Holdings
Emulating the Oracle of Omaha's transformation of a dwindling textile maker into modern-day Berkshire Hathaway
Many of the investments involved in this battle between billionaires are similar. Both have been purchasing stakes of car retailers. Lampert has a large interest in AutoNation
Lampert's style is hurting Sears right now. It's an assault on the senses and psyche to shop at a Sears store these days, but rather than spend what it takes to make the experience a more pleasurable one, Lampert instead has targeted money for share buybacks, some at prices as high as $150 a share. As a result, cash on Sears' balance sheet has dropped precipitously, from almost $4 billion in February down to just about $1.4 billion in the latest reported quarter.
Lampert has at last come around to reorganizing the retailer and setting up operating units with greater independence -- which helped the stock bounce up $10 yesterday, or more than 12%. Lampert's direct style of controlling his companies perhaps separates him most from Buffett. Where the Oracle of Omaha finds businesses with good managers and gives them the autonomy and capital to run their enterprise, Lampert has been far more hands-on. We have to ask whether a hedge-fund manager can run a sprawling retail operation; the answer thus far has been "no."
Lampert has been a very good investor, no doubt, enjoying 29% returns while also holding significant stakes in companies like Citigroup