Edward Lampert, Founder of ESL Investments and Chairman of Sears Holdings Corporation, has released his annual letter to shareholders. Mr. Lampert’s investment style has often been compared to Warren Buffett’s approach particularly when it comes to capital allocation. While many companies fail to adhere to disciplined capital allocation practices, Sears has taken a more intelligent approach. Read this article for more details.
I first became familiar with Thomas Sowell’s work when I read The Vision of the Anointed over a decade ago. Dr. Sowell has written a new book focusing on the recent (and still ongoing) housing debacle in the United States. In this video interview, Dr. Sowell speaks at length about the housing market but he goes far beyond the recent crisis and also speaks about the economic philosophy that sowed the seeds for the crisis.