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Worlds' Greatest Investors Part 11; Edward Lampert

We profile some of the greatest investors in the world. Their achievements have influenced and inspired many. In Part 11; we feature Edward Lampert.






1. Who Is He?

Edward S. Lampert, born 27 July 1962 is an American investor, financier and businessman.


2. Background

He is the chairman of Sears Holdings Corporation and founder of ESL Investments. In 1984, Lampert graduated from Yale University in B.A. Economics, summa cum laude. He was an intern at Goldman Sachs in 1984, and worked in the firm's risk arbitrage department from 1985 to 1988.

He left the bank to form ESL Investments, based in Greenwich, Connecticut, in 1988. The name ESL derives from Lampert's initials. Richard Rainwater, a wealthy businessman have him $28 million as seed capital and introduced him to influential clients.

Lampert's investment style focuses on the retail sector, searching for concentrated value. He has produced annual returns of 30% since forming his fund. Lampert typically holds his stocks for several years, and usually has between three and fifteen stocks in his portfolio. He has been credited with forming and merging Kmart and Sears into Sears Holdings.

His earnings in 2004 were estimated to be $1.02 billion, making Lampert the first Wall Street financial manager to exceed an income of $1 billion in a single year. In 2006, Lampert was the richest person in Connecticut with a net worth of $3.8 billion. As of 2007, he retained that rank, with a net worth totaling $4.5 billion.




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