Kudos to Concentrated Value for the pickup
Bruce Berkowitz of the Fairholme Capital picked up call options on Sears Holdings (SHLD) shares. He hold options on 354,000 shares having a current value of $28.3 million.
The options are at the $80 strike price and if exercised would increase Berkowitz’s position by 39%.
The options were purchased between the Feb. and the May filings
Disclosure (“none” means no position):Long SHLD
20 replies on “Berkowitz Buys Sears Call Options”
Todd,
What is the month of the option.
He can be buying more shares to average his cost it really does not mean anything.
I was also told their is an article that ESL might buy all the outstanding shares of Sears paying a small premium.ESL does well,shareholders lose.
Also,all these fund managers buying Sears are beneath Lampert,it is not like Warren Buffet owns Sears stock.
I used to be long Sears.
Todd,
I don’t mean to be rude but I have been reading your posts and everything you thought Lampert might do has not happened.
The latest was buying the GE appliance unit.
Are these options for Sears for 2020 I know they don’t go out that far,,,,maybe for Sears they will.
anon,
please read the GE post again….
it was a simple musing, not a prediction… in it i effectively said he most likely would not since it would involve loading up more debt
anon,
option…does not say
anon,
berkowitz , ackman and other are all under water with sears.. do you really think they would sell at a loss to ESL….really…
it does mean alot when Berk. might increase his stake 40% and spend $28 million to do so…
Todd,
Lampert and ESL are the majority shareholders they do not need approval.
Again if Buffet was buying it would be worth something.
Ever wonder why Buffet does not own a share of Sears.
Why doesn’t Buffet see the reason to buy Sears.
anon,
uh…wrong….
when ackman blocked lampert’s attempt to buy the rest of sears canada, lampert had over 60%
if you think that group would go quietly, think again…
BTY, lampert owns less that 50%
What about Buffet not buying Sears stock.
If someone should see value it should be Buffet.Especially at these prices.
All these analysts and authors say to buy why doesn’t Buffet buy.
HOLD ON A MINUTE,IF LAMPERT OWNED 60% OF SEARS AND NOW HE OWNS 50% THAT MEANS HE SOLD SHARES.
HOWEVER,WITH THE BOARD MEMBERS HE OWNS OVER 50%.
MAJORITY SHAREHOLDER OWN THE COMPANY.
IF HE DID OWN 60% HE COULD DO WHATEVER HE WANTS WITH THE COMPANY.
EAT ANOTHER CHEESEBURGER TODD.
anon,
gonna need you to read closer… “sears canada”
BTY he now has 70% of that had 60% when ackman stopped his attmepted buyout.
still cannot get the whole thing
by your logic, the only stocks we can buy are those buffett invests in?
surely you see the flaw in that
buffett really does not buy retail stocks, the ones that are berkshire’s port. (HD,LOw,WMT) are lou simpson’s investments (gieco).
anonymous, wipe the crust off your eyes and read man; 60% sears canada; also, buffett is betting more so against the dollar and looking outside of the U.S.; in the U.S., buffett prefers private, family owned businesses; keep reading
I have to agree with the original post of Lampert owning the majority shares in a company.That person controlls the company.
I don’t think Lampert owns over 60% of Sears Canada because they would of not been able to stop him.
Also,it is true,why does not everyone see the value in Sears.
Not all of the Big fund managers are buying either.
Cramer said to buy at $180.
anon,
he did, ackman went to court and won…
TODD,
PUT DOWN THE DOUGHNUTS AND ANSWER THE QUESTION WHY AREN’T ALL THE BIG SHOTS BUYING SEARS.
ARE THEY BLIND TO THE VALUE OR ARE THEY STUPID.
If you ask me Lampert is going to take it private with ESL.
He is making it look like ,well we gave it a try and now have no choice but to go private.
Shareholders will get a small premium.
anon,
bill miller, bill ackman, bruce berkowitz, micheal price, monish pabrai all own shares
you do not get much “bigger” in the value world
THIS TURKEY IS GOING PRIVATE.