Photo-centric cryptocurrency and a blockchain-enabled image licensing platform may have excited some investors when Eastman Kodak made the announcement earlier this year, but they did nothing to boost Sahm Adrangi’s faith in the company. Sahm Adrangi’s company, Kerrisdale Capital, took a short position in Kodak.
Kodak’s announcement drove up share prices significantly. However, Sahm Adrangi did not buy into the hype surrounding the company’s announcement. His view was built on his research and his experience in the field of investing. The thirty-something Yale graduate has worked in the world of finance for well over a decade. During his years in the industry, he has established a good track record for himself and, after founding Kerrisdale Capital, his company.
Sahm Adrangi established Kerrisdale Capital in 2009, and he has grown the company significantly over the years. As of July 2017, the company was responsible for managing $150 million. That is a fairly impressive amount, considering that the private investment management firm was started with less than $1 million less than a decade earlier. It was with Sahm Adrangi at the helm and very involved in the company since the beginning that it has grown into such a substantial force within the world of investing.
When Sahm Adrangi looked at Kodak’s announcements earlier this year, he saw trouble. His belief is that the company is on shaky ground, and it is simply trying to shore itself up by jumping on the latest craze–in this case, cryptocurrency. That led to Kerrisdale taking a short position in Kodak and issuing a negative report regarding the company.
On February 7, Kerrisdale Capital hosted a conference call to discuss that negative report. Interested parties from around the world were encouraged to participate in the call and were provided with the applicable phone numbers by which to do so.