The famous short selling hedge fund, Kerrisdale Capital, is out with its Q3 letter.
Today, the China Medical Technologies, Inc. (PINK:CMEDQ) saga is over, and we can do an appropriate post-mortem. We established our initial short position in China Medical in the fourth quarter of 2012, when Glaucus Research published a report alleging that China Medical Technologies, Inc. (PINK:CMEDQ) management was committing fraud. We generated some returns from the position and at the end of the year assumed that China Medical would just become one of the many Chinese fraudcaps that populated our general short basket at the time.
Khrom Capital was up 32.5% gross and 24.5% net for the first quarter, outperforming the Russell 2000's 21.2% gain and the S&P 500's 6.2% increase. The fund has an annualized return of 21.6% gross and 16.5% net since inception. The total gross return since inception is 1,194%. Q1 2021 hedge fund letters, conferences and more Read More
Kerrisdale Capital Q3