Sahm Adrangi is a 33-year-old chief investment officer in New York City. He owns and operates Kerrisdale Capital Management which is a hedge fund company. He says his personal investing style is value although he also does special situations investments as well. Most of his investments are in long-term value companies around the world. His hedge fund currently has $300 million in assets under management and he started his company in 2009.
One special situation he recently issued a very negative report about was Eastman Kodak Company’s announcement that they were entering the world of blockchain and digital currencies. There was a big hoopla on this announcement and their stock quadrupled in value. Sahm Adrangi looked into what they were up to and saw that it was all just a bunch of smoke and mirrors. He decided to short this company’s stock, which means his hedge fund makes money if their share prices go down, and then issued his report on such financial websites as CNBC.
Eastman Kodak Company formed a partnership with a tech firm called WENN Digital Inc. Their plan is to release a website which contains copyrighted pictures called KODAKOne. People can buy photos from this website by using their new cryptocurrency called KODAKCoin. The idea is that people will buy copyrighted photos from this website and the photographer will be paid with KODAKCoin.
As Sahm Adrangi explains, this whole notion is utterly ridiculous. First, no photographer in their right mind is going to want to get paid with KODAKCoin. It’s backed by nothing and its value will be as volatile as all the other cryptocurrencies. Two, WENN Digital is a very sketchy company he says which has done questionable things in the past.
Sahm Adrangi says this move really only serves two purposes. One, it diverts attention away from the sad state of affairs that their declining revenues have caused, including a chance Eastman Kodak will default on its debt. Two, they just want to jump on the latest buzzwords and initial coin offering craze. Sahm says that this whole things isn’t going to return a penny into the pockets of this company’s investors.
Wes Edens was born “Wesley Robert Edens.” He’s a famed businessman who comes from the United States. He co-founded a substantial company that’s known as Fortress Investment Group, LLC during the nineties. His knowledge regarding private equities and associated investments is substantial. Wes Edens was born at the end of October in 1961. He lives in New York City at the moment. He has four kids with a woman by the name of Lynn Edens. Many people are familiar with his smallest child. Her name is Mallory. He has diverse pastimes such as mountain climbing and horse jumping. Wes Edens likes to partake in both any time he gets the chance.
His college education took place at Oregon State University in Corvallis, Oregon. He finished his studies at the public school in 1984. He secured a business administration and finance bachelor of science degree. Wes Edens is Fortress Investment Group’s Principal. He’s on its Board of Directors as its Co-Chairman, too. It’s an asset management powerhouse that has a value of about $72 billion. Although its main office is in New York, New York, it has branches in all different parts of the planet. Wes Edens runs the firm’s private equity department. This department in most situations makes investments in fields such as media, medical care services, real estate, infrastructure and transportation.This businessman already had a good career before his time at Fortress Investment Group started. He was BlackRock Financial Management Inc.’s managing director and partner. He was in charge of a private equity fund by the name of BlackRock Asset Investors. He even used to function as a Lehman Brothers managing director and partner.
This executive has been constructing a strong vocation since the eighties. He landed his Lehman Brothers position back in 1987. He remained with the company until the beginning of the nineties.Wes Edens has a fondness that he puts into investing. That’s not the sole fondness he has in his life, though. He also has a true zeal for athletics and for all associated concepts. He’s one of the Milwaukee Bucks’ co-owners. This is an NBA (National Basketball Association) team that comes from Milwaukee in Wisconsin. Marc Lasry is the sports team’s other co-owner.This individual also concentrates on video games on the Internet. He’s the owner of a team that’s part of League of Legends as well. This team is known as Flyquest.