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Sahm Adrangi Finds Irregularities In An Advertising Firm

Kerrisdale Capital has taken a look at how certain advertising firms have made revenue over the years, and one that they’ve been highly skeptical of is QuinStreet. QuinStreet usually has made its revenue off of making different sales referrals to various insurance companies, or other professional services companies. But Kerrisdale CIO Sahm Adrangi has noted that the company has come under scrutiny for engaging in some questionable marketing leads for school ads targeted at military veterans, and now he says there may be traffic manipulation going on with some of its ads. While this practice in using certain platforms such as Swagbucks clickers to get ad clicks isn’t illegal, Adrangi does believe it affects the company’s bottom line. He put out a detailed report about it and has taken a short position on the company.

Sahm Adrangi has made most of his company’s revenue in shorting stocks of companies that he’s found to have unsustainable or questionable business practices. But in doing so, he’s had all research done on those companies from their management, financial strategies and where their bottom line comes from. The idea behind what Sahm Adrangi does is to bring more transparency to deceptive practices in different industries, and to give investors information that many mainstream media outlets have not. Along with shorting stocks in overvalued companies, Adrangi has also found companies undervalued that have later grown.

Sahm Adrangi has a distinguished resume in finance with a bachelor’s degree in economics from Yale. He began as an analyst in the credit division of Deutsche Bank and also part-time at Chanin Capital Partners. Adrangi also managed billions in assets at Longacre Management, a major hedge fund at the time. He founded Kerrisdale Capital in 2009 with less than $1 million, but today he manages over $170 million in the firm’s portfolio. Among the stocks he has shorted include several Chinese companies that were convicted of fraud by the SEC, and some insights into the ways that telecom companies like DISH Network and ViaSat that became of interest to shareholders. Adrangi has been interviewed several times on networks like Bloomberg and CNBC.

Some Dark Predictions from Shervin Pishevar

Shervin Pishevar is one of the big players in the Silicon Valley area. He is an entrepreneur and investor who has seeded at least 60 companies. He has founded and co-founded several companies, including Virgin Hyperloop and Sherpa Capital. In the early 2000’s, he served as a strategic advisor and board advisor to Uber.

On February 6, 2018, Shervin Pishevar used Twitter to send out 50 separate points on why he felt that there were dark days ahead for the US economy. He had especially dark predictions for the US stock market. It was actually a dramatic drop in the market that caused him to begin his twitter rant. This tweet storm lasted 21 hours and predicted that the stock market would see another dramatic drop in the months to come. He specifically mentioned that he felt it would go down an aggregate 6,000 points.

Not only does Shervin Pishevar feel that the stock market is in for some dark times, but he also feels that big companies in the United States, giants like Amazon and Google, are in for some tough times ahead as well. He feels that they are going to definitely experience a decline in influence or even a complete fall. He mentioned that the value of gold would rise, but that bitcoin would experience a decline and then rise in the years to come. He touched on technology and immigration throughout the tweet storm as well.

Shervin Pishevar mentioned that Silicon Valley is not as exclusive as it once was. At one time, it had a stronghold on talent and ideas. However, he feels that it is no longer something to rely on. The idea of the entrepreneurial spirit being the American way and backed by venture capital and angels is just not what it used to be. It is now the global way. He tweeted that the US builds physical and cultural walls to keep immigrant talent out, but that talent doesn’t need the US anymore. He cited an example of a team of individuals in China who were able to put together a train station in only nine hours.