How Sears Ruined Its CEO Eddie Lampert’s Hedge Fund

As if in sympathy with his dying retail giant, Sears CEO Eddie Lampert’s hedge fund has sunk perfectly in line with Sears’ own decline.

While shares of Sears shld fell nearly 55% in 2016 amid bankruptcy rumors, the assets in Lampert’s 29-year-old fund ESL Investments have dwindled a matching 55% in the same period.

Sears, making up about a third of Lampert’s portfolio, was a major contributor to the the hedge fund’s shrink, but investors have...

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