Sahm Adrangi Calls Out Eastman Kodak’s Move Into Cryptocurrency

As the founder, owner, and chief investment officer of Kerrisdale Capital Management Sahm Adrangi directs how this firm’s hedge fund money is allocated. He generally focuses on long-term value investments but when he sees an opportunity to make money from a special situation he takes action. How this generally works is if he and his analysts see a company whose stock is very overvalued in their opinion he will short this company’s stock, meaning his hedge fund will make money if that stock tanks. He then releases a report about the company and what is wrong with it followed up by a telephone conference call where he explains in more detail what the team at Kerrisdale Capital Management has uncovered.

One of the special opportunities arose in February 2018 when Eastman Kodak Company (NYSE: KODK) made a big splashy announcement that they were entering the world of cryptocurrencies. They unveiled KODAKOne which is their new platform for buying and selling photographs. The way to buy photos from this platform is to use Eastman Kodak’s new cryptocurrency called KODAKCoin. In exchange, the person who sold the photograph is paid in KODAKCoin.

Sahm Adrangi said this entire plan is doomed to failure and investors in this company will never earn and dividends from it. He pointed out that Eastman Kodak has been on shaky ground for years and has far too much debt, perhaps too much to keep servicing which puts them at risk of default. He said this is a poorly run company where the fundamentals are poor and their leaping onto the cryptocurrency bandwagon is just a smoke and mirrors game to hide this fact. Sahm Adrangi also questioned why anyone would want to be paid in KODAKCoin which has nothing backing its value and its value can change dramatically very quickly, like all cryptocurrencies do.

Having been in the investing business for 14 years Sahm Adrangi has experienced the highs and lows of the financial industry. He earned an economics degree in 2003 from Yale University and was soon working for Deutsche Bank. He started Kerrisdale in 2009 and has earned a reputation as a savvy investor.

https://thehedgefundjournal.com/sahm-adrangi/

Christopher Burch – Champion of Philanthropy

Christopher Burch was born and raised in Wayne, Pennsylvania. In 1976, as an undergraduate at Ithaca College, Burch along with his brother launched his first business venture. With two thousand dollars in hand, they created Eagle’s Eye clothing. With this small investment, the Burch brothers expanded the company, which soon grew to over 50 retail stores and more than $140 million in sales. The company was later sold in deal that netted over $60 million (entrepreneur.com).

Christopher Burch is now the chief executive officer and founder of Burch Creative Capital. Based in New York City, the company handles brand development and venture investments. He is also co-founder of Tory Burch LLC. In 2012, because of Burch’s uncanny business skills, Forbes declared him a billionaire.

In one of his latest endeavors, Burch bought and remodeled Nihiwatu Resort. This luxury play ground located on the Island of Sumba, Indonesian boasts five stars and is any vacationer’s dream. It employs more locals than anywhere else on the Island. The property consists of thirty plus exquisite villas with private plunge pools and more amenities than one could ever imagine. They include island excursions, surfing, spearfishing, yoga and horseback riding. There are cooking lessons for guests who want to test the local vegetation of the area. The beach is absolutely fabulous and considered like being in heaven by swimmers and surfers. The view overlooks the Indian Ocean and Nihi Beach.

What is unique about the Nihiwata is through the generous philanthropic nature of Burch Creative Capital, a portion of Nihiwatu’s profits are now donated to the Sumba Foundation, established in 2001 by the resort’s first owner. The Foundation’s mission is to fund community-based projects dealing with nutrition, health and education. Guests of the resort are welcomed to learn about the efforts of the Foundation and many participate in the Foundation’s volunteer projects.

Because of this philanthropic aspect and for many other reasons, Burch’s Nihiwata was named “Number One” Hotel in the World in Travel and Leisure Magazine in 2015.

What’s in the future for Christopher Burch? He and his partner soon hope to move on to Nicaragua and Costa Rica to build more resorts, check prnewswire.com.