Edward Lampert, who some call “The Next Warren Buffett,” has been busy buying up stocks of the nation’s largest car dealer. According to the Associated Press yesterday:

Billionaire investor Edward S. Lampert continued to buy shares of AutoNation Inc., putting nearly $1.4 million more into the nation’s largest car dealer last week.

Lampert, a former AutoNation director who was already the company’s largest shareholder, bought 228,700 shares for between $5.90 and $6.15 per share on Thursday and Friday, according to a regulatory filing.

That follows purchases of 529,000 shares for $3.2 million, announced earlier last week. Lampert-controlled entities now own more than 78.6 million shares, or nearly 44.5 percent of the Fort Lauderdale, Fla., company’s outstanding stock.

Source:

“Eddie Lampert again raises stake in AutoNation”
Associated Press, November 17, 2008

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