Edward Lampert

Infobox_Celebrity


image_size = 150px
name = Edward "Eddie" Lampert
birth_date = birth date and age|1962|07|27
birth_place = Roslyn, New York
death_date =
death_place =
occupation = Hedge Fund Manager
salary =
networth = profit $4.5 Billion USD (2007)cite news | url=http://www.forbes.com/lists/2007/10/07billionaires_The-Worlds-Billionaires_Rank_8.html | title=The World's Billionaires | publisher=Forbes.com | page=8 | date=2007-03-08 | accessdate=2007-04-14]
website =

Edward S. "Eddie" Lampert (born July 27 1962cite news | author=Berner, Robert | title=The Next Warren Buffett? | date=2004-11-22 | work=BusinessWeek | format=PDF | pages=144-148;152,154 | accessdate=2007-04-14 | url=http://www.anderson.ucla.edu/documents/areas/adm/loeb/05d42.pdf] ) is an American investor, financier and businessman.

He is the chairman of Sears Holdings Corporation(SHLD) and founder, chairman, and CEO of ESL Investments. Until May, 2007 he was a director of AutoNation, Inc [cite web | title=Sears chief won’t run for AutoNation’s board | last=Miller | first=James P. | publisher=Chicago Tribune | date=2007-03-26 | url=http://www.chicagotribune.com/business/chi-070326lampert,1,2751267.story | accessdate=2007-04-17] . He previously served as a director of AutoZone, Inc. from 1999 to 2006. [cite web | title= SEC filing | publisher= AutoZone, Inc | url=http://www.sec.gov/Archives/edgar/data/866787/000089375006000283/sch13d.txt | accessdate=2007-04-16]

Lampert graduated from Yale University in 1984 (B.A., economics, summa cum laude), where he was a member of Skull and Bones [cite news | author=Berner, Robert | title=The Next Warren Buffett? | work=BusinessWeek.com | url=http://www.businessweek.com/magazine/content/04_47/b3909001_mz001.htm
date=2004-11-22 | accessdate=2007-04-14] [Alexandra Robbins, "Secrets of the Tomb: Skull and Bones, the Ivy League, and the Hidden Paths of Power", Little, Brown and Company, 2002, page 180] and Phi Beta Kappa. He was an intern at Goldman Sachs in July 1984, and worked in the firm's risk arbitrage department from March 1985 to February 1988. He worked directly with Robert Rubin; when Lampert decided to go out on his own, Rubin warned it was a bad career decision.

He left the bank to form ESL Investments, based in Greenwich, Connecticut, in April 1988. The name ESL derives from Lampert's initials. Richard Rainwater, whom he had met on Nantucket Island, gave him $28 million in seed money and introduced him to clients, such as Geffen. In 2003, he was kidnapped from the parking lot of his office, but Lampert convinced his captors to let him go after two days. [cite news | author=Berner, Robert | title=The Next Warren Buffett? | work=BusinessWeek.com | url=http://www.businessweek.com/magazine/content/04_47/b3909001_mz001.htm
date=2004-11-22 | accessdate=2007-04-14]

Lampert's investment style can best be described as "concentrated value", often focusing on the retail sector. He has produced annual returns of 30% since forming his fund. Lampert typically holds his investments for several years and usually has between three and fifteen stocks. His investment style has drawn comparisons to the financier Warren Buffett. He has, in large part, been credited for forming and merging Kmart and Sears into Sears Holdings.

His earnings in 2004 were estimated to be $1.02 billion USD, making Lampert the first Wall Street financial manager to exceed an income of $1 billion in a single year. [cite web | author=Martin, Patrick | title=Highest Wall Street pay tops $1 billion a year | date=2005-06-09 | url=http://www.wsws.org/articles/2005/jun2005/hedg-j09.shtml | accessdate=2007-04-14] In 2006, Lampert was the richest person in Connecticut with a net worth of $3.8 billion.cite web | title=The 400 Richest Americans (Connecticut Rankings) | date=2006-09-21 | work=Forbes.com | url=http://www.forbes.com/lists/2006/54/biz_06rich400_The-400-Richest-Americans-Connecticut_7Rank.html] As of 2007, he retained that rank, with a net worth totaling $4.5 billion.

His earnings in 2006 were estimated to be from $1.0 billion to $1.5 billion USD.

References

External links

* [http://www.searsholdings.com/invest SHC: Chairman's Messages to Shareholders] ( [http://www.searsholdings.com/invest/archives Previous years] )
* [http://www.forbes.com/2007/03/07/billionaires-worlds-richest_07billionaires_cz_lk_af_0308billie_land.html Forbes: The World's Billionaires] editors:Luisa Kroll and Allison Fass (March 8, 2007)
* [http://www.ridgewoodgrp.com/Edward%20S%20Lampert%20of%20ESL%20Investments.PDF Edward S. Lampert of ESL Investments explains his thinking on the Kmart deal]
* [http://www.gurufocus.com/ListGuru.php?GuruName=Edward+Lampert gurufocus.com: Edward Lampert News]
* Cramer, James J., " [http://nymag.com/nymetro/news/people/columns/intelligencer/10561/ Blue-Light Specialist: A conversation with Eddie Lampert] ", New York magazine (December 6, 2004)
* Rosenberg, Yuval, " [http://money.cnn.com/2004/11/17/news/newsmakers/lampert/ The man behind the deal] , CNNMoney.com (November 17, 2004)

Persondata
NAME= Lampert, Edward
ALTERNATIVE NAMES=
SHORT DESCRIPTION= Hedge Fund Manager
DATE OF BIRTH= July 19, 1962
PLACE OF BIRTH= Roslyn, New York, United States
DATE OF DEATH=
PLACE OF DEATH=