Sahm Adrangi is the founder and Chief Investment Officer of Kerrisdale Capital Management, LLC, a New York-based private investment manager. This past February, Kerrisdale and Sahm Adrangi gained attention for the negative report they published in explanation of their ‘short’ position on the Eastman Kodak company. The negative report surprised many observers, but it was the result of a detailed analysis performed by Kerrisdale Capital.
The primary reason the report was met with surprise is that Eastman Kodak’s stock had previously risen by 187 percent after Eastman announced a new, blockchain-enabled image licensing platform that they will be developing as part of a partnership. Many observers saw this move as a clever way to cash in on the current ICO fever, but Kerrisdale’s team expressed their concerns about the structure of the new blockchain platform, which is also designed to include a photo-based cryptocurrency.
The overall model for the platform, the Kerrisdale report argues, is poorly planned and features an unsustainable structure of capital. The report also expressed concerns about Eastman Kodak’s poor overall fundamentals, and refers to the platform as a “hollow attempt to chase the ICO craze”. Kerrisdale’s negative position on Eastman Kodak means that they stand to profit if Kodak share prices fall.
Sahm Adrangi founded Kerrisdale Capital Management in 2009, and he has remained in the position of Chief Investment Officer to this date. Before founding Kerrisdale, Mr. Adrangi was an investment analyst with Longacre Fund Management, LLC, and he has also served as a member of the Chanin Capital Partners bankruptcy restructuring division. He began his career with Deutsche Bank in the leveraged finance division.
Followup to my last tweet —
— Sahm Adrangi (@SahmAdrangi) May 16, 2018
Mr. Adrangi was educated at Yale, where he graduated with a Bachelor of Arts degree in Economics. He is known for the social media presence of Kerrisdale’s Twitter account, which consistently publishes tweets detailing Kerrisdale’s positions on various stocks. The most notable move of his business career came in 2011, when he made a few million dollars by shorting U.S.-listed Chinese company stocks. At age 36, Sahm Adrangi is still young for his position, and he has considerable time to reach even greater heights of success in his field.