What Lampert did was a business case we studied in grad school, specifically with K-Mart. It's a classic hedge fund move to capitalize assets of a dying compan

What Lampert did was a business case we studied in grad school, specifically with K-Mart. It's a classic hedge fund move to capitalize assets of a dying company, and he saw the big box store real estate as an opportunity as other investors were jumping ship. This trajectory they've been though on has been a long time coming.