Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
It has been speculated that part of the reason for Lampert's loan is that there was an attempt to sell the interest in Sears Canada and there were no takers.
"As reported by The Post earlier this week, an auction by Chicago-based Sears Holdings of its 51 percent stake in Sears Canada failed to attract any bids in its second round. That’s because prospective bidders in the auction run by Bank of America got spooked after getting a look at the company’s fast-deteriorating financials, sources said."
Honest feel The Street has become just trash news. It's awfully presented. Chock full of pop-up ads. Teaser articles. Does anybody really click on those? Worse than National Inquirer. Part of the baggage Mr. Cramer has come to carry around, unfortunately.
Just watched the Wealthtrack interview. I was impressed with Berkowitz's answers on why he believes he is and was right to invest in AIG, Bank of America, Fannie Mae and Freddie Mac. I also thought that Consuelo Mack asked poignant questions. I didn't come away with the feeling that this was a softball interview. Regarding Sears Holdings, I would have liked this asked of Bruce Berkowitz. Not sure why it wasn't.
Concur with all of that. Wondering about the disconnect between the way BB values AIG and the way the market values it. BB says it is worth $75 to $100. Yes, Consuelo Mack does a fine job. And she does ask some excellent questions, and not give a softball interview, even though Fairholme is a sponsor of the show. She did the same with David Winters of Wintergreen, asked some tough questions even though they also sponsor the show.
Comments
http://seekingalpha.com/news/1994365-report-lack-of-interest-in-sears-canada
From the NY Post Article:
"As reported by The Post earlier this week, an auction by Chicago-based Sears Holdings of its 51 percent stake in Sears Canada failed to attract any bids in its second round.
That’s because prospective bidders in the auction run by Bank of America got spooked after getting a look at the company’s fast-deteriorating financials, sources said."
If he is not extending credit, is he still holding the stock?
so he is selling but has a sizable amount still in his portfolio. Maybe he is under limits as to how much he can sell at any one time.
"Edited to clarify ownership"
http://www.thestreet.mobi/story/12859465/1/jim-cramers-mad-dash-sears-is-unraveling-faster-than-i-thought.html
He did give a nice interview, and presented the case for AIG, BAC, Fannie and Freddie.
I thought he did a good job.
http://www.mutualfundobserver.com/discuss/discussion/15851/fairholme-fund-s-bruce-berkowitz-on-this-weekend-s-wealthtrack#latest
"SHLD Lawsuit - Own Sears Holdings SHLD Stock?
Adwww.shareholderlawsuitscenter.com/
Call Our Shareholder Law Firm Now."