Steve Romick Bets On Retail Apocalypse With Sears Debt

Steve Romick on sears Canada play amid retail woes Since inception in June 1993, Steve Romick’s FPA Crescent Fund has returned 10.4% annualized Vs 7.0% for the MSCI World Index, which makes the fund one of the best performing value funds out there. However, while FPA’s record of investing is highly impressive, recently Romick and team have been more concerned about the current “weapon of mass destruction” that is threatening markets as it grows. [timeless] Sears Holdings By DR04 (Own work) [CC BY 3.0], via Wikimedia Commons The weapon in question is ETFs the growth of which is being driven…