The long awaited turnaround story at Sears may never happen. Why? Because reclusive hedge fund impresario and Sears Holding Corp. Chairman Edward Lampert doesn’t know how to run a retail business, says Jeff Matthews of hedge fund RAM Partners.
After Sears posted a surprise quarterly loss, a Barron’s report on August 24 stated the stock could fall another 50%. Lampert shot back with a letter claiming the article was “inaccurate” and “biased.”
Read the rest of this entry »