When I did (about 5 years ago), Loews and HD were not in my screen. I
forgot the top 10 retailers and many were local such as Lechemere,
Somerville Lumber (screwed by HD), Bradley, Zayers, Circuit City,
Filene's... - need to go back to the list. However, only one or two survive today.
Macy was almost bankrupted
and was rescued by a Hong Kong film maker Run-Run Shaw whose relative
was married to the family member of Macy's owner.
I made some money in retailers. However, many turned to be losers when I held them too long.
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I sold Sears after making a good profit. I bought it when the outlook
was very good. I was irritated to sell it too early when I visited Sears at
Toronto and found it was well run and presented. Not a while ago I was
frustrated when Lambert (the hedge fund manager with heavy investment in Sears) made millions. Now, I am glad.
When it
merged with K-Mart, I know the fat lady had sung. When two losers merge,
most likely the managements blame the other side and spell the end of
the company. We have too many examples.
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