We added to our Citigroup (C) holdings recently and we found out today that we had Sears Holdings (SHLD) Eddie Lampert as a fellow buyer.
According to his filing with the SEC, Lampert's ESL Investments held 27.8 million Citigroup shares at the end of September up from 24.8 at the end of Q2 and 15 million in Q1. This makes Citi ESL's third largest holdings behind Sears and AutoNation (AN).
Also during the quarter he sold his 625,000 shares of wireless handset maker Motorola (MOT) during the quarter and bought 16.7 million shares of Home Depot (HD).
Value investor like Berkshire Hathaway's (BRK.A) Warren Buffett, Bill Miller and Lampert have been buying shares lately and that means two things, there are mis-priced stocks out there and the financial sector seems to be a favorite. Buffet recently bought Bank of America (BAC) Miller is buying Countrywide (CFC) and admittedly is buying others now (although the exact companies he did not disclose) and now Lampert is busy buying Citi.
How is that for company if you are buying financials...