Below please find Kerrisdale Capital's Q1 2011 letter. Kerrisdale Capital is an up and coming hedge fund that is managed by Sahm Adrangi. In the quarterly letter they discuss their stellar Q1 results which were primarily driven by correctly being on the short side of a couple of Chinese frauds. They briefly discuss some of the other positions in their portfolio as well. The performance since inception has been quite good. That being said it is obvious they run a very concentrated book so it will be interesting to see how it changes going forward.
Kerrisdale Capital - 5-17-11