- Fannie Mae to Tighten Lending Standards: Report
- Share Trading on London Stock Exchange Resumes
- China Overcapacity Worsening, EU Chamber Warns
- Investing in Good Karma – and Making a Profit
- UK Retail Sales Pick Up in Nov., Strong Dec. Seen
- Black Friday to Avoid Red Ink; Greenback Gets the Blues
- Wal-Mart Price Pressure Hurts China Workers: Report
- Bankruptcies Jump, Hitting Highest Level in Four Years
- Steepest Black Friday Discounts, Revealed
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
MOST SHARED
- The Executive Job Search
- Chinese Overcapacity is Worsening, EU Chamber Warns
- Salvation Army's Kettles Now Credit Card-Ready
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- Hyundai-Kia Targets Rapid China Growth in 2010
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- China Unveils Carbon Target Ahead of Copenhagen
- Wal-Mart Price Pressure Hurts China Workers: Report
- Oil Friday
Text Size 
BOSTON, Nov 16 (Reuters) - Hedge fund manager Edward Lampert cut his stakes in housing and financial stocks during the third quarter, possibly suggesting he does not see a quick recovery following last year's financial crisis. According to a regulatory filing on Monday, Lampert's ESL Investments RBS Partners Fund dissolved stakes in Home Depot Inc, Fannie Mae, Hartford Financial Services Group Inc and cut his stake in Citigroup Inc during the third quarter. Lampert took a very different tack from other hedge fund managers by trimming his stake in Citi. At the end of September, Lampert owned 18.8 million shares, down from 19.1 million at the end of the second quarter. On Friday, hedge funds Paulson & Co and Renaissance Technologies said they added Citi shares. The bank's stocks were among the most severely damaged during the financial crisis. The bank's shares closed at $4.18 on Monday, four times higher than the low they hit earlier this year. Lampert also cut his holdings in financial services companies Capital One Financial Corp and Genworth Financial Inc. Lampert, who owns more than half of retailer Sears, kept that position unchanged. (Reporting by Svea Herbst-Bayliss; editing by Andre Grenon) Keywords: LAMPERT/ (Svea.Herbst@Reuters.com; +1 617 856 4331; Reuters Messaging: svea.herbst.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Print
Email
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
- How can you get out of debt and back on the road to recovery? Follow these ten steps.
Data is a real-time snapshot *Data is delayed at least 15 minutes