Sahm Adrangi VIC Idea: Short Bank Of Internet (BOFI)

Sahm Adrangi VIC Idea: Short Bank Of Internet (BOFI)
Photo by cafecredit

Sahm Adrangi is the managing partner of a New York-based fundamentally-oriented investment manager that manages close to $300 million and focuses on long-term value investments and event-driven special situations. Kerrisdale actively shares its investment ideas with the broader investment community through its own website and third party websites.

Play Quizzes 4

We are covering the Value Investing Congress in Las Vegas. Make sure you sign up for our free newsletter to ensure you do not miss any updates!

Maverick Capital Slides 22.9% In Q1, Short Bets Yield Positive Returns [Exclusive]

investor 1652197064Maverick Capital's flagship hedge fund lost -22.9% in the first quarter of 2022 according to a copy of the firm's quarterly update, which ValueWalk has been able to review. The firm's flagship fund, Maverick Fundamental Hedge, accounts for $3.7 billion of the group's $8.1 billion of assets under management. Even after losses in the first Read More

Sahm Adrangi spoke at the 9th Annual Value Investing Congress, also see Kerrisdale Capital delivers in February, sticks with Herbalife Ltd. (NYSE:HLF). Below are notes from his presentation.

Highlights from Sahm Adrangi’s presentation

Short idea: Bank of Internet, BofI Holding, Inc. (NASDAQ:BOFI)

Branchless online bank

$3.6 billion total assets $312m tbv $47M net income

Stock trades at 4x tangible book and 26x p/e

Thesis: net interest margin is not sustainable. Most expensive public bank in U.S., new competition, largest negative interest gap, loan portfolio is going to roll into lower yield

It was his top 5 long position in 2009-10. Now it’s his largest short position

Sahm Adrangi Kerrisdale Capitals Top Equity Investment by scribdvw

Updated on

Sheeraz is our COO (Chief - Operations), his primary duty is curating and editing of ValueWalk. He is main reason behind the rapid growth of the business. Sheeraz previously ran a taxation firm. He is an expert in technology, he has over 5.5 years of design, development and roll-out experience for SEO and SEM. - Email: sraza(at)
Previous article Whitney Tilson VIC: Long SODAStream Thesis
Next article Organovo Holdings Inc (ONVO): “The Sleuth’s” Short Thesis

No posts to display