According to the NY Post's calculations, Eddie Lampert (ESL Investments) has lost $30 million an hour from his top 9 holdings since September 19th (26 trading days). Some of these top holdings include Sears (SHLD), Autozone (AZO), Autonation (AN), and Citigroup (C). The Post writes,
"Lampert's Greenwich, Conn.-based ESL Investments saw its holdings in the eight companies fall by an average of $193 million each trading day - which translates into $30 million an hour for each of the 6 1/2-hour trading days.The investor lost about $587 million on Auto Nation, $480 million on AutoZone, $174.7 million on Home Depot and $162.4 million on Citigroup. The group of nine companies fell 39.4 percent over the 26 trading days - compared with a 26.4 percent drop for the Dow Jones industrial average."
Value is dead in this environment.
Source: NY Post
