“Don’t They Know I’m Eddie Lampert?” “Next Buffett” Sells Positions Amid Report of Client Redemptions

Eddie Lampert, once treated to a BusinessWeek cover story headlined, “The Next Warren Buffett?” was all about selling in the fourth quarter of 2011, dumping both long-held and newly acquired stocks, amid a report of client redemptions.

Bloomberg reported that weakness in Lampert’s main investment, Sears Holdings (SHLD), hurt his performance and drove some investors to cash out.

Lampert sold almost 70% of his holding in AutoZone (AZO), or about 6 million shares, leaving him 3 million shares in the auto parts company.

He also dumped 7.4 million shares of AutoNation (AN).

Over the past five years, both stocks had enjoyed a strong run, although AutoZone dwarfed the gains of its sibling.

AutoZone Stock Chart

AutoZone Stock Chart by YCharts

Lampert also dumped some other high-profile stocks. He sold 7.5 million shares of Cisco (CSCO), closing out the position he opened in the fourth quarter of 2010 for what appear to be marginal, if any, gains.

Cisco Systems Stock Chart

Cisco Systems Stock Chart by YCharts

Even Wells Fargo (WFC), the well regarded financial firm, couldn't escape the hatchet. Lampert sold off all his 4.6 million shares and closed the position first started at the end of 2009.

Wells Fargo Stock Chart

Wells Fargo Stock Chart by YCharts

Michael McHugh is an editor for the YCharts Pro Investor Service which includes professional stock charts, stock ratings, stock screener and portfolio strategies.

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