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Subject:  Re: Sears Date:  12/27/2011  9:27 PM
Author:  BBQLeanHogFuturz Number:  8769 of 25520

I am wondering if Biglari may want to take heed.

If Sears continues it's abysmal performance, their market cap might be Biglari-able! Seems like the kind of brash "I'm the best value investor in the world" type move he would make if he had the dough.

Rue the day Eddie Lampert when goes live!

Seriously, is Sears real estate really that big of a margin of safety? I'm sure the scraps are worth something in a pure, all-at-once liquidation, but as a going concern bleeding cash and no frothy real estate market to buoy property values, how much is this thing worth?

Reminds me very much of the wisdom in Buffett changing strategy from from buying mediocre business at great prices to buying great businesses at mediocre prices.

Sears is another lesson for those of us who have made 'Jockey Bets'. Sometimes is works, but most of the time a pig of a company will always be just that until it finds itself extinct.


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