This is a fascinating letter. Lampert addresses “mark-to-market”, short sellers, regulation, Lehman, Bear Sterns, AIG, Banks, the Austrian School ,Hyaek and more. He also addresses critics who chastised him for not spending more as today competitors liquidate, drastically cut back plans and he sits on $1.3 billion in cash.
Edward Lampert’s Letter to Shareholders 2/2009
Disclosure (“none” means no position):Long SHLD
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One reply on “Sears Holding’s Edward Lampert’s Letter to Shareholders $$”
Eddie officially jumped the shark with this letter.
Not sure who will implode first Ackman or Lampert. Would be kind of cool if the could do it together like Butch Cassidy and the Sundance Kid but since they’ve had a bit of a falling out, I guess that’s not possible.