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Lampert's Patience Is Rewarded as Sears Holdings Buys More Sears Canada Shares

How do you get a 52% return? If he moves the cash then the shares he bought are worth that much less, so it is an unrealized loss. An actual cash loss from Canada would likely result in a real accounting markdown so there is no gain. If you want to get a look at SHLD's future look no further than their unfunded pension liabilities. Lampert may be able to run his accounting tricks to get the company to appear more valuable and sell off assets here and there, but there are a lot of undervalued assets out there right now that don't have bankruptcy looming in their futures.