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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (13923)	5/10/2008 4:38:17 PM
From: Peter V	Respond to of 19257

Lampert, Wood Show Risk of `Concentrated' Hedge Funds By Katherine Burton May 9 (Bloomberg) -- When Jon Wood opened his Monaco-based hedge fund, the former UBS AG trader told investors he'd beat the market by buying stakes in no more than 40 companies -- the same way he made $2.4 billion in six years for his old employer. Instead, holdings such as failed U.K. bank Northern Rock Plc and Calabasas, California-based Countrywide Financial Corp., the largest U.S. mortgage lender, imploded. From its start in late 2006 with $3 billion, Wood's SRM Global Fund lost about 70 percent through March 31, said two investors, who asked not to be identified because the firm doesn't publicly disclose returns. ``These concentrated funds scare the hell out of me,'' said Brad Alford, head of Alpha Capital Management LLC, an investment consultant based in Atlanta. ``Either the manager knocks it out of the park or he strikes out.'' Other managers who follow the approach of betting big on out-of-favor stocks are also struggling as market volatility hits historic highs. Edward Lampert's ESL Investments Inc. dropped 27 percent last year and an additional 1.3 percent in the first three months of 2008, investors said. The 45-year-old Lampert, who oversees $17.5 billion, has been hurt primarily by a $6.1 billion stake in retailer Sears Holdings Corp. of Hoffman Estates, Illinois, which has fallen 48 percent in the past year. Lampert is chairman of Sears. Investors expect that Wood and Lampert, who both declined to comment, will survive their losses because clients can't pull their money for three to five years. The lock-ups leave investors no choice but to wait for a turnaround. Other funds that concentrate their wagers haven't been so lucky.

To: Smiling Bob who wrote (13923)	5/13/2008 11:22:07 AM
From: Smiling Bob	Read Replies (1) \| Respond to of 19257

SHLD - eddie trading one loser for another Eddie and many other hedge fund managers are no different than most of us. Except when we get lucky and hit big, news and profits stay pretty close. When a hedge fund mgr happens to hit on something, then lots of people know about it and the profits are so much much more headline grabbing due to the stake of OPM. So for awhile, they are suddenly a god. Just for awhile. --- Edward Lampert Boosts AutoNation Stake To 38.7% Tuesday 05/13/2008 7:17 AM ET - Dow Jones News Related Companies Symbol Last %Chg AN 16.54 -0.78% SHLD 93.58 -1.17% As of 11:15 AM ET 5/13/08 DOW JONES NEWSWIRES Billionaire investor Edward Lampert said he has raised his stake in AutoNation Inc. (AN) to 38.7%, bringing his holdings in the car retailer to about 69.13 million shares. In open market purchases from April 28 to May 9, Lampert, chairman of Sears Holding Corp. (SHLD), bought about 1.82 million AutoNation shares for about $29.2 million, according to a filing with the Securities and Exchange Commission. Shares of AutoNation closed Monday at $16.67 each. -Brian Coyle, Dow Jones Newswires; 202-862-3545 (END) Dow Jones Newswires 05-13-08 0717ET Copyright (c) 2008 Dow Jones & Company,

To: Smiling Bob who wrote (13923)	5/30/2008 10:12:43 AM
From: Smiling Bob	Read Replies (1) \| Respond to of 19257

SHLD 83.99 will sell anything anyway they can "I see dead companies" ---- Sears In Admin Action Over Alleged Violations By K-Mart >SHLD Friday 05/30/2008 6:50 AM ET - Dow Jones News Related Companies Symbol Last %Chg SHLD 84.06 -2.41% As of 10:10 AM ET 5/30/08 DOW JONES NEWSWIRES Sears Holdings Corp. (SHLD) Friday said it has been named as a party to administrative actions brought by the California Air Resources Board alleging that Kmart sold certain non-food items that don't comply with applicable regulations. In its quarterly report filed with the Securities and Exchange Commission, the company said the items in question include windshield wiper fluid and portable fuel containers. Sears said the parties are currently negotiating toward a resolution of this matter. Shares of the retail holding company closed Thursday at $86.14. -Chad Clinton, Dow Jones Newswires; 202-862-1349; chad.clinton@dowjones.com (END) Dow Jones Newswires 05-30-08 0649ET Copyright (c) 2008 Dow Jones & Company, Inc.