In early May 2018, a group of some of the sharpest minds in finance came together at a conference. This conference was about short selling and how it will continue to be a relevant way to make money in the future. The conference was called, “The Art, Pain, and Opportunity of Short Selling”. It was put together by Kase Learning and over a dozen speakers talked about short selling and what they saw as its challenges and opportunities.
Sahm Adrangi of Kerrisdale Capital Management was the speaker who led this conference off. He handles over $150 million in assets under management at this firm. He is known in the financial industry for his financial research and publishing information about companies whose stock he is shorting. Sahm Adrangi first gained his status in the industry when he identified a number of fraudulent Chinese Companies, shorted their stock, and then published his research on them. This was a very successful move on his part as he had acted before the rest of the market saw that much of the information coming out of these companies was completely untrue.
What Sahm Adrangi talked about at this conference was ad fraud. The people in attendance thought this was a highly relevant topic as this type of fraud has been seen to be as an increasingly big problem. It is also tied to the future value of company’ stock values when ad fraud or corruption pops up in the news cycle. Being able to determine that a company’s stock is about to fall is what helped Sahm Adrangi grow Kerrisdale Capital from a company with $1 million in assets under management nine years ago into the big investment firm it is today.
After Sahm Adrangi finished his speech he was followed by Enrique Abeyta Ubillos who leads Project M Group. His speech was called “Social Distortion”. Other speakers at this event were Soren Aandahl of Glaucus Investments, David Einhorn of Greenlight Capital, Mark Roberts of Off Wall Street Consulting Group, and Claire Gogel of Wildwood Capital. The information they all provided was relevant to short sellers of every level.