Edward Lampert, the Hedge-Fund Star Who Bet on Sears, Is Unrepentant
He made billions for investors in his ESL Investments fund by bucking naysayers. At the storied American retailer, his instincts proved wrong.
A day after Sears Holdings Corp. filed for bankruptcy protection, the hedge-fund manager who bet his career on the retailer addressed nearly 1,000 employees gathered at its somber headquarters.
Edward Lampert told the crowd it was the second most difficult speech of his life. “The first was having to speak at my father’s funeral” at age 14, he said.
Mr....