GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

Bruce Berkowitz Comments on Sears Holdings

February 10, 2014 | About:
Holly LaFon

Holly LaFon

267 followers
Headlines shout of Sears (SHLD)' disastrous 2013 loss of $12 per share. A longer history shows that since the merger of Sears with Kmart, about 9 years ago, s ears has distributed over $66 of cash per share via buybacks and spin-offs and has paid down $27 per share of a pension liability that is no different, in our view, from debt. Fairholme research estimates that the fair value of s ears' net assets exceeds $150 per share. If our research is accurate, we expect s ears' market price of $38 to increase to this value over time.

From Bruce Berkowitz (Trades, Portfolio)'s fourth quarter shareholder letter.


Rating: 4.6/5 (10 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK