Sahm Adrangi Negative Report

Investment manager, Kerrisdale Capital, recently published a report that explained why its shorted position on The St. Joe Company. KC stated that it believes St. Joe will utterly fail in its $1 billion venture to transform a large and deserted area near Panama City Beach into a luxurious neighborhood for retirees and businesses. Kerrisdale describes the pitiful land holding as a “swampy, remote, desolate” area. They say that even if it does succeed, their expectations are way to ambitious, so ambitious that if there expectations were to come true it would make more profitable than all the other commercial real estate investments in the Panhandle combined.

But the biggest negative is that nothing has been really happening during the entirety of the project’s life. As of right now, things are going so sluggishly in the project that it is doubtful anything will ever come of it. And this is not a project that just started. It was originally proposed over a decade ago and has had investors impatiently waiting around all that time. In the meantime, some of these companies have been lessened in profitability in part because of this stagnant investment. The most so is Fairholme who is about to go under completely and incidentally owns a third of St. Joes shares.

Kerrisdale Captal is led by its founder and CIO, Sahm Adrangi. He leads his company to obtain misunderstood stocks like underfollowed longs and overhyped shorts. The company reflects this same philosophy of stocks. These can be found on its website. Sahm Adrangi entered adult life by earning his B.A. in Economics from Yale University. After graduation, he entered the financial industry by working in credit at Deutsche Bank. During these years he leveraged loan debt financing and advised creditor committees in bankruptcy situations.

Sahm Adrangi first made a name for himself in the financial world by exposing fraud in Chinese markets. In recent years Adrangi has led Kerrisdale to focus on a number of developing areas. Biochemistry, telecommunications and mining may be predominant. Sahm Adrangi is today a much coveted and sought after financial speaker worldwide. He also writes articles on finances for various periodicals.

https://www.crunchbase.com/person/sahm-adrangi

GreenSky Credit CEO David Zalik prides himself on raising his company differently than other financial technology startups

Greensky Credit co-founder and CEO David Zalik prides himself on running his company differently than other financial technology start-ups. Zalik avoids speaking at conferences as much as he can. He did not raise a single cent from fundraisers for approximately ten years. Zalik does not treat his employees to a free meal.

Now, Zalik is opened up to the idea of raising capital. He is challenging the idea that companies should remain private for as long as possible. GreenSky has requested an IPO and could raise $1 billion. With that said, the company can still decide to decline the funding after the paperwork has been filed.

GreenSky Credit is putting most of the risk on banks. Large banks such as SunTrust, Regions and Fifth Third, are the ones keeping tabs on the loan balance. GreenSky Credit itself is not on the hook for defaults.

Zalik is not fond of individuals using their smartphone to acquire a loan in a few minutes. Never in his life has he seen a process to raise money come so easy.

Since the creation of GreenSky in 2006, Zalik, 44, has silently raised one of the major players in the financial technology industry. What is his secret? While other businesses are arguing with banks over loan terms, Zalik believes that GreenSky working with banks can lead to a mutually beneficial relationship. Some financial technology start-ups claim that they are a better alternative to banks.

GreenSky Credit, a financial technology company founded in 2006, creates hardware for banks and merchants to help consumers get loans for their home improvement needs. The company is not as well known as other fintech giants such as Social Finance Inc. or Lending Club Corp partly because they do not use their capital to make loans.

GreenSky’s network of banks approves online loans to 10,000-plus customers who shop at physical retail store locations.

There are more than 900 employees working for GreenSky Credit.

 

https://www.crunchbase.com/organization/greensky