Sears made the bulk of its profit by selling credit swaps. There's absolutely no tell as to the current position of their liabilities. Lampart has held C from $40 so it's likely that he's caught on the wrong side of the CDO market as well.
Sears in 2006 said: "Investors in Sears have been warned, bluntly, that putting the companyâs cash pile to work may have its downside. âThese investments are highly concentrated and involve substantial risk,â
