Sahm Adrangi runs Kerrisdale Capital, an investment firm best known for activist short selling, or short activism. On publicly traded companies that Sahm and his team believe are being overvalued by the equity market, Kerrisdale shares its research to correct market misperceptions.
To read Sahm’s research, please visit Kerrisdale’s website at https://www.kerrisdalecap.com.
A few recent articles and videos on Sahm and Kerrisdale are available here:
- An article about Kerrisdale’s report on subscale telecom operator Tucows
- Two biotech stocks Kerrisdale recently wrote on: Proteostasis and Prothena
- Videos at the Kase Learning Short Selling conferences on: Ad Fraud and CarGurus
Kerrisdale has written on a lot of shorts over the years, but Sahm has a few favorites. Fraudulent Chinese companies got him into the business, and one of his first was China Education Alliance. Check out these four videos, for instance, to see how obvious the fraud was in those days. The SEC brought an enforcement action against the company’s accountant several years later.
In the United States, Sahm’s favorite short was Globalstar. Kerrisdale rented an auditorium in October 2014 to present why the stock is worthless. Here’s a funny video announcing the presentation. A month later, Jim Cramer issued a “mea culpa” where he admitted his recommendation on Globalstar was “a bad call”.
Sahm isn’t always right, though. He thought Straight Path was a short, but it got bought out only a few months after Sahm said he thought it was overvalued. ClubCorp, another Kerrisdale short, got bought out too. And Qualcomm settled its litigation with Apple, discrediting Sahm’s short thesis there as well. So just because Kerrisdale says something is a short doesn’t mean it is. Always do your own research!