(CNBC) Hedge funds have been failing over the past year at the fastest rate since the financial crisis in 2008. Some crashed and burned after sudden reversals. Others quietly liquidated. Then there’s Edward S. Lampert’s ESL Investments. It hasn’t failed, but may be setting a new benchmark for slow, painful declines thanks to its outsize, long-term bet on venerable retailers Sears and Kmart.
Sears and its Hedge Fund Owner, in Slow Decline Together
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