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From a slavish recitation of Eddie Lampert’s invest prowess comes the quote:

Recently, Lampert has bought shares in Citigroup (C), Motorola (MOT), and Clear Channel Communications (CCU). His positions in these investments are worth $780 million, $16 million, and $30 million respectively.

This was all published just about one year ago, allowing us the benefit of hindsight. Let’s list each stocks May 2007 - May 2008 performance:

• Motorola (MOT): -43.25%
• Citigroup (C): -52.17%
• Clear Channel Communications (CCU): -17.61%

Against the S&P 500: -5.8%

Down from the shoulder’s of giants is a long fall indeed.

(via Felix Salmon)

Tags:   economy · financial advice · stocksNo Comments