Michael Price on Sears

Michael Price talks about his biggest holding(Sears) and discusses why Eddie Lampert's strategy in remaking Sears.Price firmly believes that Lampert's push towards having Sears focus more on profitable merchandise and reducing volume sales.Such a strategy, make work as Sears is a much smaller entity compared to Target and Wal Mart and cannot rely on a large store base for a volume based discount business model.Moreover, Sears has aggressively been buying back its stock which augurs well for shareholders who are willing to wait out Mr Market's unduly pessimistic outlook on the stock at the moment.

The link to the video

A short bio of Michael Price (taken from Gurufocus.com)

A renowned money manager learned finance as a $200-a-week research assistant under Max Heine. Mr. Price earned reputation for buying undervalued companies, raising hell: tussled with management of companies held in his portfolios. He sold Heine Securities in 1996 to Franklin Resources for $670 million. Now manages private firm, MFP Investors: $1.6 billion under management, much of it his own money

Cheers,
Manpreet