David Zalik is known for being the CEO of GreenSky Credit. He was destined for success at a young age. He was always a stellar student at school. He did so well in the classroom that he was able to start college at the age of 14. While he was a freshman at Auburn University, he started his first company. The name of the company was MicroTech Information Systems. This company put computers together for students.
Although David Zalik was a great student, he decided to drop out of college so that he could focus on his business. He decided to sell his company and start two more. He used the money from MicroTech to start Outweb and Phoenix.
David’s passions are finance, mathematics and real estate. That is what gave him the idea to start GreenSky Credit. He started the company in 2006. The company has been extremely successful. In fact, GreenSky Credit brought in $327 million in 2017. He is currently the CEO of the company.
David has overcome many challenges in his life. He was born in Israel, but his family came to the United States when he was 4-years-old. He has also had challenges in the business world. However, he managed to overcome all of those challenges. His current net worth is $2.5 billion, which makes him one of the richest businessmen in the country.
Not only is David successful, but he has also been recognized for his hard work. He received the National EY Entrepreneur of the Year in Financial Services in 2016.
About GreenSky Credit
GreenSky Credit is a financial technology company. It provides businesses and merchants with technology so that they can finance loans for consumers. The consumers can use the loans for various purposes such as healthcare, solar and home improvement. As of 2016, GreenSky Credit has provided people with over $5 billion in funding.
Sahm Adrangi is a New York City-based hedge fund manager. His hedge fund is called Kerrisdale Capital Management and he has two main ways of investing. The first way is by investing in quality companies for the long term. The second way his hedge fund makes money is by taking short positions in companies that he and his team of analysts see as over-valued by investors. After taking a short position he will go public with his company’s research showing why the business is being over-valued and follows this up with a teleconferencethat anyone can dial into. When a company’s stock declines in value that he took a short position in then his hedge fund profits.
He has shorted the stock of a number of American companies in 2018. Sahm Adrangi has shorted Quinstreet, Proteostasis, and some other firms. One of the big ones he shorted was the St. Joe Company, a business that builds master-planned communities in the state of Florida. One of their biggest properties is the issue that Sahm Adrangi sees with this company. He says that due to this property the St. Joe Company is mired in a swamp, both figuratively and literally.
While going over the St. Joe Company’s assets, the team at Kerrisdale Capital Management saw that this property is in the middle of a remote swamp in Southern Florida. The management of St. Joe somehow believes that they will build a master-planned community here against all the odds. Sahm Adrangi says that no one in their right mind would want to live there or open a retail store in the middle of a swamp, let alone one that is far away from any other cities.
He also has an issue with St. Joe’s cash flow. Sahm Adrangi says that they are not earning much from their current portfolio of properties. He says that the situation had gotten so dire that they are actually earning more off the junk bonds they own than what they are bringing in from their properties. Between this and their unattractive properties, he says that St. Joe company is really overvalued for what is actually is.