Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Lose Big After Sears Drops 24%

Sears Holdings Corp (SHLD) plunged today after the company disclosed its Q4 EBITDA guidance. The expected adjusted EBITDA will be less than half of last year’s amount, below analysts’ expectation. Meanwhile, according to Reuters, Sears Holdings Corp announced that “it intends to implement a series of actions to reduce on-going expenses, adjust asset base, and accelerate the transformation of business model.” The company plans to close more than 100 Kmart and Sears Full-line stores. SHLD is trading at $34.65 at 2:13 PM EST on Tuesday, down 24.43% or $11.20.

ESL INVESTMENTS

Here is a list of hedge funds that may suffer huge losses due to the price decline.

1. ESL Investments – Edward Lampert: loses $540 million

2. Fairholme (FAIRX) – Bruce Berkowitz: loses $182 million

3. Horizon Asset Management – Murray Stahl: loses $31 million

4. Empyrean Capital Partners – Michael A. Price and Amos Meron: loses $10 million

5. Chou Associates Management – Francis Chou: loses $5.42 million

6. Fine Capital Partners – Debra Fine: loses $2.48 million

7. Tiger Global Management LLC – Chase Coleman: loses $2.12 million

8. MFP Investors – Michael Price: loses $1.04 million

9. HBK Investments – David Costen Haley: loses $280 thousand

10. AQR Capital Management – Cliff Asness: loses $250 thousand

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in SHLD since the end of September. We did not take into account their option positions.

Biotech Insider Alert - $5 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!