Sears Update

Hat tip to Dr. Paul Price, who occasionally comments here under various pseudonyms, for pointing out how far the share price of Sears (Nasdaq: SHLD) had fallen; it closed at $33.82 per share today. The last time I wrote a post about Sears, on August 28th ("The Mystery of Sears"), the stock had closed at $90.62. In that post, I wrote that I didn't understand the long investment thesis for Sears, but was wary of betting against the stock since so many well-respected value investors were bullish on it. Maybe they saw something in Sears lesser investors didn't? The mystery remains.

The photo above, from the original post, is of the Sears building in Hackensack.