Sears’ Sudden Drop Takes ESL for a Ride

The retailer’s stock has taken a beating since Election Day, crimping the big year-to-date gains of shareholder Eddie Lampert’s ESL.

November has not been kind to Eddie Lampert, the founder of hedge fund firm ESL Partners. With his flagship fund’s largest holding posting double-digit losses since November 6 — after more than doubling through October — and its second-largest holding also posting a double-digit drop since mid-October, Lampert’s fund has lost a significant chunk of its year-to-date gains.

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