SHLD

The most interesting news this morning is Fortress Investment Groups IPO. They are the first US hedge fund to go public and word on the street is that it had huge investor interest. What we know is that it priced at the top of the range today. The only other hedge fund I know of that the average investor can invest in is SHLD, which yes, is Sears Holdings and yes, they own the stores Sears and KMart. While I confess to not shopping at either of them, I have owned SHLD for well over a year and it is my largest holding. Why would I own this when I dont like the stores and don't shop there? Seems very un-Peter Lynch like. Eddie Lampert is arguably the best hedge fund manager out there and he is the CEO of SHLD. His track record at his hedge fund called ESL Investments boasted a record of 30% returns. While SHLD may look like a retailer, it is really a public hedge fund run by the best there is, so in short, I don't need to put money in FIG (symbol for Fortress), I have the opportunity to invest right alongside Eddie Lampert through SHLD.

Finally, hedgefunds are not available to the average investor, but this one is.

I would be cautious buying SHLD today, but on any pullback in next few weeks, "pop the clutch" on this one!