Sahm Adrangi Uncovered Suspicious Business Practices
Kerrisdale Capital Management is an investment company that focuses on long-term value investments and event-driven special situations. The recent news involving the company made some controversies on the investment market. Apparently, Kerrisdale Capital’s founder, Sahm Adrangi released a negative report against QuinStreet Inc. (NASDAQ: QNST). He uncovered the flawed and suspicious business practices of QuinStreet. According to Sahm Adrangi, the revenue growth of QuinStreet was highly suspicious because it was based on approximately from a single client who is believed to be overlooked by the market. Only a few investors realized the fictitious growth of QuinStreet stocks. Unlike Sahm Adrangi, he is aware of what kind of business QuinStreet is operating.
Sahm Adrangi issued another negative report toward St. Joe Company (NYSE: JOE), this billion dollar real estate development company in Florida attracts retirees and businesses to invest in their stocks. Little do the investors know the plan is not close to reality. Sahm Adrangi said, “The company’s plans for its interior lands are no more feasible now than when they were first proposed over a decade ago,” which means St. Joe’s $1 billion valuation does not justify to what their claims are. The attempt to monetize its land is a continuous struggle.
No doubt, Sahm Adrangi is well-versed with the investment market. He is an Economics degree holder from Yale University and an investment analyst at Longacre Fund Management prior to founding Kerrisdale. His credentials show his vast experience in the industry. Building an investment company is not easy, but he managed to do a smart move in every investment. He is very keen in eyeing bogus companies. The market got its highs and lows but with his experience; he can pin point the future of the market. The negative reports he issued made other investors aware of those bogus companies.
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