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Eddie Lampert: The best investor of his generation

February 06, 2006

The mood was tense at the Bel Age Hotel in West Hollywood, Calif., early last year. The top two dozen executives of Sears, Roebuck & Co. were gathering for a strategy session with Eddie Lampert, the then- 42-year-old billionaire hedge fund manager who had just engineered an unlikely takeover of their struggling yet venerated company.

The fact that the vehicle of his acquisition was discounter Kmart -- which Lampert had come out of nowhere to snatch control of during bankruptcy -- was only one source of the tension. Lampert also had zero experience running a retail operation. Yet once their presentations started, he began poking holes in virtually every idea.



"What's the benefit of that?" he asked again and again. "What's the value in that?"

http://money.cnn.com/2006/02/03/news/companies/investorsguide_lampert/index.htm

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