|
ESL Investments
ESL Investments is a privately owned hedge fund based in Greenwich, Connecticut. History ESL Investments is managed by Edward Lampert, who founded it in April 1988 and named it after his initials. The firm invests in the American public equity and hedging markets. Managing the fund with a contrarian investing approach, Lampert is the company's chairman and chief executive officer, and William Crowley is its president and chief operating officer. ESL is fairly unusual as a hedge fund in that it takes large stakes in a small number of companies and holds them for many years. Most of ESL's portfolio consists of retail companies, particularly Kmart (now Transform SR Brands LLC), by far the company's largest holding (53.5% ownership as of June 2010). The revenue from Kmart plays a big part in helping ESL acquire other companies. Lampert began trading in stocks at the investment bank Goldman Sachs during the 1980s. In 1988 Lampert founded ESL Investments with the backing of invest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Company
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is offered, owned, traded, exchanged privately, or Over-the-counter (finance), over-the-counter. In the case of a closed corporation, there are a relatively small number of shareholders or company members. Related terms are closely-held corporation, unquoted company, and unlisted company. Though less visible than their public company, publicly traded counterparts, private companies have major importance in the world's economy. In 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for ($1.8 trillion) in revenues and employed 6.2 million people, according to ''Forbes''. In 2005, using a substantially smaller pool size (22.7%) for comparison, the 339 companies on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edward Lampert
Edward Scott Lampert (born July 19, 1962) is an American billionaire businessman. He is the former CEO and chairman of Sears Holdings (SHLD), founder of Transform Holdco LLC, and founder, chairman, and CEO of ESL Investments. Until May 2007, he was a director of AutoNation. He was a director of AutoZone from 1999 to 2006. As of October 2021, his net worth was estimated at US$2 billion. Early life and education Lampert was born in 1962 to Dolores Lampert and Floyd M. Lampert. He is Jewish. His mother was a housewife. His father was a senior partner in the law firm of Lampert & Lampert in New York City. He has a younger sister Tracey. Lampert's grandmother was a passive investor and a fan of Louis Rukeyser's ''Wall Street Week'' television program. She instilled in him an interest in investing. His mother would later recall that young Eddie would sit with his grandmother reviewing and evaluating the performance of her stock picks in the daily newspaper. Lampert's father died in 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citigroup
Citigroup Inc. or Citi ( stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002. Citigroup owns Citicorp, the holding company for Citibank, as well as several international subsidiaries. Citigroup is incorporated in Delaware. Citigroup is the third largest banking institution in the United States; alongside JPMorgan Chase, Bank of America, and Wells Fargo, it is one of the Big Four banking institutions of the United States. It is considered a systemically important bank by the Financial Stability Board and is commonly cited as being too big to fail. It is one of the nine global investment banks in the Bulge Bracket. Citigroup is ranked 33rd on the ''Fortune'' 500 as of 2021. Citigroup has approximately 200 million customer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–2010
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability ass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ziff Davis
Ziff Davis, Inc. is an American digital media and internet company. First founded in 1927 by William Bernard Ziff Sr. and Bernard George Davis, the company primarily owns technology-oriented media websites, online shopping-related services, and software services. History The company was founded by William B. Ziff Company publisher Bill Ziff Sr. with Bernard Davis. Upon Bill Ziff's death in 1953, William B. Ziff Jr., his son, returned from Germany to lead the company. In 1958, Bernard Davis sold Ziff Jr. his share of Ziff Davis to found Davis Publications, Inc.; Ziff Davis continued to use the Davis surname as Ziff-Davis. Throughout most of Ziff Davis' history, it was a publisher of hobbyist magazines, often ones devoted to expensive, advertiser-rich technical hobbies such as cars, photography, and electronics. Since 1980, Ziff Davis has primarily published computer-related magazines and related websites, establishing Ziff Davis as an Internet information company. Ziff Davis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loews Corporation
Loews Corporation is an American conglomerate headquartered in New York City. The company's majority-stake holdings include CNA Financial Corporation, Diamond Offshore Drilling, Boardwalk Pipeline Partners, Loews Hotels and Altium Packaging. The corporation positions itself as a value investor with a long-term focus. In recent years, Loews has also allocated significant capital for share buybacks. In the three years ended December 31, 2012, Loews spent $1.3 billion repurchasing shares. Between 1971 and 2020, the corporation reduced its shares outstanding from 1.3 billion shares to 291 million shares. History Loews Corporation traces its roots to 1946 when Laurence Tisch persuaded his parents to invest $125,000 to buy a resort hotel in Lakewood, New Jersey. Laurence's brother Robert joined the business shortly thereafter. The Tisch brothers began to invest their profits in expanding the hotel business. By 1956, the brothers were in a position to build their first hotel, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Dell
Michael Saul Dell (born February 23, 1965) is an American billionaire businessman and philanthropist. He is the founder, chairman, and CEO of Dell Technologies, one of the world's largest technology infrastructure companies. He is ranked the 24th richest person in the world by ''Bloomberg Billionaires Index'', with a net worth of $45 billion as of October 2022. In 2011, his 243.35 million shares of Dell stock were worth $3.5 billion, giving him 12% ownership of the company. His remaining wealth of roughly $10 billion is invested in other companies and is managed by MSD Capital, which incorporates his initials. In January 2013 it was announced that he had bid to take Dell Inc. private for $24.4 billion in the biggest management buyout since the Great Recession. Dell Inc. officially went private in October 2013. The company once again went public in December 2018. Early life and education Dell was born in 1965 in Houston, to a Jewish family. His parents were Lorraine Charlotte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Geffen
David Lawrence Geffen (born February 21, 1943) is an American business magnate, producer and film studio executive. He co-created Asylum Records in 1971 with Elliot Roberts, Geffen Records in 1980, DGC Records in 1990, and DreamWorks SKG in 1994. Early life David Geffen was born in Borough Park, Brooklyn, New York, to Abraham Geffen and Batya Volovskaya (1909–1988). Geffen's mother owned a clothing store in Borough Park called Chic Corsets by Geffen. Both of his parents were Jewish immigrants who met in British Mandatory Palestine and then moved to the United States. Geffen graduated from Brooklyn's New Utrecht High School in 1960 with a "barely passing 66 average". He attended the University of Texas at Austin for a semester, and then Brooklyn College, before again dropping out. He then moved to Los Angeles, California to find his way in the entertainment business. He attended Santa Monica College (then known as Santa Monica City College) in Santa Monica, Califo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goldman Sachs
Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, Hong Kong, Tokyo, Dallas and Salt Lake City, and additional offices in other international financial centers. Goldman Sachs is the second largest investment bank in the world by revenue and is ranked 57th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a systemically important financial institution by the Financial Stability Board. The company has been criticized for a lack of ethical standards, working with dictatorial regimes, close relationships with the U.S. federal government via a "revolving door" of former employees, and driving up prices of commodities through futures speculation. While the company has appeared on the 100 Best Companies to Work For list compiled by ''Fortune'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contrarian Investing
Contrarian Investing is an investment strategy that is characterized by purchasing and selling in contrast to the prevailing sentiment of the time. A contrarian believes that certain crowd behavior among investors can lead to exploitable mispricings in securities markets. For example, widespread pessimism about a stock can drive a price so low that it overstates the company's risks, and understates its prospects for returning to profitability. Identifying and purchasing such distressed stocks, and selling them after the company recovers, can lead to above-average gains. Conversely, widespread optimism can result in unjustifiably high valuations that will eventually lead to drops, when those high expectations do not pan out. Avoiding (or short-selling) investments in over-hyped investments reduces the risk of such drops. These general principles can apply whether the investment in question is an individual stock, an industry sector, or an entire market or any other asset class. S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hedging Market
A hedge is an investment position intended to offset potential losses or gains that may be incurred by a companion investment. A hedge can be constructed from many types of financial instruments, including stocks, exchange-traded funds, insurance, forward contracts, swaps, options, gambles, many types of over-the-counter and derivative products, and futures contracts. Public futures markets were established in the 19th century to allow transparent, standardized, and efficient hedging of agricultural commodity prices; they have since expanded to include futures contracts for hedging the values of energy, precious metals, foreign currency, and interest rate fluctuations. Etymology Hedging is the practice of taking a position in one market to offset and balance against the risk adopted by assuming a position in a contrary or opposing market or investment. The word hedge is from Old English ''hecg'', originally any fence, living or artificial. The first known use of the word ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Equity
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), in Fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
