SHOS is record low. Sears Canada is BK. Plenty of the best RE is now in SRG, which isn't doing great. Berkowitz must cringe when he (or his investors) read this, with all its errors.
Since this was written, the core business has probably declined to a negative value.
"Baker Street believes Sears’ break-up valuation is between $85 and $158 per share, providing investors with a whole lot of upside and not much downside. Furthermore, it believes that SHLD could deliver assets (Lands’ End, Sears Canada, Sears Home Services) worth almost $44 per share to shareholders in short order without affecting its core business or its real estate."
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