Today SHLD reported disappointing earnings as was expected given their announcement right after Christmas, which caused the stock to drop substantially.    As you are aware we have never been advocates of Sears as a best in class retailer because it simply is not.  Our investment thesis has been that the value of the assets minus...Read More

While all the news lately has been bad for Sears, I found it quite interesting that the CEO who owns 60% of SHLD in his Hedge Fund just bought a huge amount of stock.  Sears has never been an investment based on confidence in its retailing operations and I think that purchases like this speak...Read More

Today we had our Monday Morning Investment Meeting, and as a firm we are amazed at the valuations that we are finding.  Below you’ll find a sampling of some of our largest positions moving into 2012.  Never before has it been so easy to find profitable companies, where earnings are likely to grow, at a...Read More