Businessweek is asking if Eddie Lampert could be the next Warren Buffett (reg. required).
If anyone is destined to inherit Buffett's perch as the leading investment wizard of his day, it just might be Edward S. Lampert. Since he started ESL in 1988 with a grubstake of $28 million, he has racked up Buffett-style returns averaging 29% a year. His top-drawer clients range from media mogul David Geffen and Dell Inc. (DELL ) founder Michael S. Dell to the Tisch family of Loews Corp. (LTR ) and the Ziff family publishing heirs. Only 42, Lampert has amassed a fortune estimated at nearly $2 billion. So focused is he on his goals that he was back at work negotiating a big deal two days after his kidnappers released him. Says Thomas J. Tisch, son of Loews's founder Laurence Tisch: "Eddie is one of the extraordinary investors of our age, if not the most extraordinary."
I don't like to link to sites that require registration, but this article is worth your time and effort. There is a lot of information about Lampert's history, his kidnapping and release, and his plans to use KMart as his investment vehicle the way Buffett used Berkshire Hathaway.