Prominent Short Seller Crushed After AT&T Buys Straight Path For 160% Premium

Even without today's news, it had been a bad year for Kerrisdale, and its "up and coming" founder Sahm Adrangi, who last August was busted in the Hamptons for a DUI and Cocaine possession.

Furthermore, while Kerrisdale had posted rather astounding returns for many years since inception, generating a 1,152% compounded growth rate over the past 7 years, 2016 had not been too kind to Adrangi, who according to his investor letter was down 5.4% in Q2 and down 12.1% YTD. 

(Click on image to enlarge)

If he was indeed short STRP in size, as his letter suggests, the days of the "up and coming" hedge fund manager may be finally over.

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