Edward Lampert: Sears Gone Wrong [Forbes]
VictoryShares Protect America ETF (SHLD)
US:NASDAQ Investor Relations:
searsholdings.com/invest
Company Research
Source: Forbes
(Getty Images) The reason hedge fund managers are not as distrusted as much as used car salesmen are because most people don’t know what hedge fund managers do. Hedge fund managers are essentially gamblers; they place big bets and bucks where others fear to tread. Sometimes they win; very often, they don’t, but they still make money. Which brings us to the case of Edward Lampert whose hedge fund ESL bought Kmart and then Sears. Sears has filed for Chapter 11, closing over 140 stores, but keeping some 550 operating. That move saw Mr. Lampe come in for a large share of criticism. The Wall Street Journal ran a long story on Lampert‘s legacy with Sears. “People have been trying to figure out why I haven’t given up or what’s in it for me,” Lampert said a few months ago. “I really believed this could be something special.” Lampert blamed Sears inability to adapt to e-commerce. “If we could play that game and play it well, we had a chance.” As the Wal
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