Todd Sullivan

Comparison to Berkshire Hathaway Shows Sears Has Hope

FIG,

i think you really aren't getting it. forget insurance. it has no relevance whatsoever in the early years of berkshire which was the point if the post....

the way warren ran berkshire then and lampert is running shld now are similar.

Comparison to Berkshire Hathaway Shows Sears Has Hope

rohan,

LOL.. your reply was better than mine

Comparison to Berkshire Hathaway Shows Sears Has Hope

he folded the buffett partnership when he bought berkshire and people were offered money or shares in hathaway...

Lampert.... too early tell. it is a bit like a hedge fund with the credit swaps he has but for now it is a retailer. he has spent most of his energies repairing the huge mess he bought and financially, the company is in great shape and the balance sheet is clean. my guess is in 3-4 years it will be a much different operation though..... at least more diverse

Comparison to Berkshire Hathaway Shows Sears Has Hope

fig,

incorrect. Warren began buying geico big in 1976-to 1981 investing $45.7 million in it. as late ad 1992 he only has 48% and bought the rest in 1995. he first bought in in 1971, 6 years after he took control of berkshire.

Berkshire's 1st insurance operation was not bought until year 3 (national indemnity). that was the point of the post. most people think Berkshire has
been into insurance from day one when the reality is far different.

i agree on your point on insurance vs retail and the point of the post was that retail (sears) is a better business that a textile mill which is all berkshire was until year 3.

it was a comparison of years 1 and 2 of the two businesses, do not jump ahead in Berkshire to year six and draw conclusions because we cannot compare when we do not know what sears will be in 4 years from now.

i am fully versed in buffetology, you are missing the point of the post

Comparison to Berkshire Hathaway Shows Sears Has Hope

al,

i said betting against them "long term". either company could have been shorted and people could have made tons at times in the past..

he does not control AZO or AN..

Comparison to Berkshire Hathaway Shows Sears Has Hope

fig,

it is a look at the early years. berkshire was a textile mill, not an insurance company when it started. people tend to forget that when they make the lampert / buffett comparison. the exercise was to see what it was when it started to see what it morphed to. to think sears and kmart are all that sears holdings will be 10 years from now causes people analyze it wrong.

it was simply an effort to compare both companies at their early stages