Berkowitz Says Sears Holdings' (SHLD) Intrinsic Value is a "Pretty Big Number"
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In an interview posted Wednesday with Fairholme Fund's Bruce Berkowitz, he commented on a question about the "intrinsic value" of Sears (Nasdaq: SHLD), a company the fund holds a large stake in.
In response to the question, Berkowitz talked about the company's "long-leases" and the value of being the "anchor" in many malls.
Berkowitz would not comment on an exact "intrinsic value" number, but said if you look at the long leases, the mall-anchor status, brands and online stores you come up with a "pretty big number" at "multiples" of current levels.
When asked if Sears is Eddie Lampert's Berkshire Hathaway (NYSE: BRK-a), he said it could play out the same. He noted that Warren Buffett had similar problems when he first bought Berkshire and sold what couldn't be fixed. He said the comparison between the two is a "pretty good analogy."
Shares of Sears Holdings are up 0.8% today to $47.68.
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In response to the question, Berkowitz talked about the company's "long-leases" and the value of being the "anchor" in many malls.
Berkowitz would not comment on an exact "intrinsic value" number, but said if you look at the long leases, the mall-anchor status, brands and online stores you come up with a "pretty big number" at "multiples" of current levels.
When asked if Sears is Eddie Lampert's Berkshire Hathaway (NYSE: BRK-a), he said it could play out the same. He noted that Warren Buffett had similar problems when he first bought Berkshire and sold what couldn't be fixed. He said the comparison between the two is a "pretty good analogy."
Shares of Sears Holdings are up 0.8% today to $47.68.
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Warren Buffett, Edward Lampert, RBS Partners, ESL Investments, Bruce Berkowitz
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