Kerrisdale Capital Management LLC is a New York City investment firm. It was founded by Sahm Adrangi in 2009 and he is the chief investment officer of the company. His strategy for the hedge fund they operate is to research companies and then short the stock of companies he sees as being overvalued. Afterward he publishes his research, which he supports with presentations and a website, so that other investors see his point of view. Once the stock tanks as investors see that the company is overvalued his hedge fund makes money.
In early November 2017, it was reported that Sahm Adrangi saw the problems with a couple of companies in the biotech industry before anyone else did. One of the companies was Bavarian Nordic. He had said two months before that the cancer vaccine they were developing would fail its long-running study and he was right. It did fail and the company’s stock value dropped like a rock.
The other biotechnology company that Sahm Adrangi proved right on was Sage. He shorted their stock when he could see that their drug under development wasn’t at all effective. Later a study was released which showed that he was right and it didn’t work any better than a placebo. Kerrisdale Capital’s hedge fund made quite a bit of money due to his diligent research, and his Facebook.
It was when Sahm Adrangi shorted a number of Chinese companies who traded on US exchanges that made his name in the industry. He shorted a number of them and then revealed that they were sham outfits. Once other saw that the companies were completely fraudulent their stocks collapsed. When the SEC saw his research they investigated and removed these companies from the US exchanges they were being traded on.
Sahm Adrangi has been in the financial industry for 13 years. His first professional job was as an analyst at the international banking firm Deutsche Bank. He went on to work at two other financial companies before deciding to go into business for himself. He has an economics degree that he earned in 2003 at Yale University, and Twitter.com.
More Visit: http://fortune.com/2016/04/21/sahm-adrangi-kerrisdale-short-sale/
An idea that began to receive traction in the Grand Rapids Michigan area in 1991 was the proposal to build an arena in the northern downtown area that was capable of hosting multiple sporting events.
This idea came about when Dick Devos was a thirty-something-year-old trailblazer that was well on his way to becoming the CEO of Amway Corporation that was owned by his family was against the idea from the beginning.
DeVos had seen the negative impact of large-scale sports arena construction to Detroit in the long run and wished to spare Grand Rapids from a similar fate. DeVos’ campaign against the sports complex was the catalyst for Grand Action, the company of area businessmen that would become responsible for a number of notable construction products in the Grand Rapids area.
Both heirs to considerable family fortunes Dick DeVos and wife Betsy have given much of their time and resources to affect change in both institutions and policies in the Michigan area. The DeVos have used the political influence they have gained through their generous GOP contributions to institute desired changes in the laws of the state of Michigan pertaining to work policies and state education.
Betsy DeVos made a successful push in to expand the scope of charter schools in Michigan. And in 2012 Dick was able to combat the long-standing tradition of union influence in the state and cause Michigan to become a right to work state.It would no longer be required to pay dues to a union to secure employment in Michigan.
The DeVos family influence is not limited to politics as their philanthropical contributions have also been well-chronicled. The Dick and Betsy DeVos Family Foundation reportedly made contributions in excess of $138 million dollars in the 26 year period beginning in 1989 and ending in 2015 to further leadership programs, promote art and culture, benefit health services, support local churches, and fight for education reform in the state of Michigan.
Dick and Betsy DeVos also showed the trait of perseverance when a 2000 proposal backed by the power couple that would provide for tax-payer funding to subsidize the private educations of Michigan school children and six years later Dick DeVos suffered a failed state gubernatorial bid.
The DeVos family never wavered in their commitment to charter school advocacy and would expand their efforts nationwide. The total of states that, including the D.C. area that now has some form of the private school voucher system is 25.
Visit http://dickdevos.com/news/ to learn more.