Chief Investment Officer Sahm Adrangi of Kerrisdale Capital Management has literally just done the unprecedented – he has raised over $100 million to wager against just one stock. His play is designed to be an out-of-the-box strategy to devise a “co-investment” fund, which is the first of its kind. Money is often raised to focus on just one investment thesis, but never before has an individual planned to use money to short stock on an as-yet-unkown public company.
There is no question that Sahm Adrangi is proud of how he has struck a chord within the “alternatives company” as he calls it, especially when he made this bombshell announcement in April of 2016. The company remained unknown until the following month and was revealed to be Dish Network in May of last year. Adrangi’s company began immediately buying stock in the company about a month prior to establish their dominance in that area.
This isn’t the first time that Kerrisdale Management has made such as risky move. They actually have a history of such transactions, including an instance where Sahm Adrangi and his company bought up stock in the drug makers Sage Therapeutics and Zafgen, not to mention they also made quite a splash when they bet against the satellite televison company Global Star.
The Kerrisdale Company has one main hedge fund, and their team of experts regularly bet for and against a number of well-known company stocks. They have truly made their mark under the guidance of Adrangi and will continue to do so for years to come.
Adrangi actually launched compay with just under $1 million in holdings, and it is now valued at over $150 million as of the summer of 2017. Before he launched this company, he became well-known for being adept at shorting fake Chinese companies in 2011 and worked to replace the directors of the Morgans Hotel Group. Adrangi holds a Bachelor’s of Economics from Yale University and is widely looked upon as a distinguished speaker for many important business conferences.
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