Gabriel Grego: Aphria Short Full Transcript- Kase Learning Shorting Conference

Watch Gabriel Grego’s epic takedown of Aphria (APHA) at the Kase Learning Shorting Conference, 12/3/18.

Q3 hedge fund letters, conference, scoops etc

Gabriel Grego: Aphria Short Presentation – Kase Learning Shorting Conference

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Q3 hedge fund letters, conference, scoops etc

Transcript

I’m delighted to see so many people back from back who are here and joined us in our first conference in May delight to see so many new faces as well. I’m particularly pleased the timing here I think for this conference couldn’t be better. Both generally the markets have become a lot more interesting and I wouldn’t call it a good environment for short selling but at least it’s not horrifically bad environments which is which is what it’s been for most of the last decade. And given where the markets indicating open today it’s particularly good timing today. The market may be offering good entry points for some of the ideas we’ll be hearing today. I want to thank you. Be sure to thank our sponsors Centerpoint securities Velocity Capital and activist insight you’ll be hearing from them later today. And I want to move quickly and and get our first speaker up here. He’s got 129 slides and a great idea Gabriel Greg has been a friend of mine for many many years now. He actually first reached out to me when he was living in Israel and he was short so to stream and I was long Sodastream and he reached out to me and said Did I want to compare notes. And I really respected that and I wanted to hear the contrary viewpoint. SodaStream is an Israeli based company. And it turns out we were both right. The stock went down by two thirds. So he was right on the short side and then it went up 12 x and I was right alongside. So Gabriel is a long short manager who’s been doing this for quite a while but he’s really made a name for himself and identifying fraudulent companies generally international companies where he has done does extraordinary due diligence. You saw that those you who were here in May where he exposed total fraud at Foley Foley the stock was halted by the Greek regulators less than two weeks later and has never traded again. They did an investigation and that verified and validated everything Gabriel had discovered. He has found another another similar situation I think having reviewed the presentation. So I can’t wait for him to share it with you. So please welcome. Gabriel Grego.

Can you hear me.

Yes well by the way I covered SodaStream before the 12 x. Okay great.

So with a long presentation so I’m not going to waste too much time doing introductions. We’re going to get right to business.

The only thing I need to know is how this thing works. Okay. And behind that red button on the left great.

OK. Just a few things to understand the general principle what we do is we only go after catastrophic situations typically fraud. We only act if we have what I believe is overwhelming evidence to probably take the company down. If the thesis is correct and we only act in our wars we don’t shorten hope. So what I’m trying to do here and I would like to give recognition to my good friend and the person who actually number one had this idea number to share with me the burden of this of his work which is Nate Anderson from Hindenburg research we should be somewhere in his room if you want to stand up.

There you go. Thank you Nate.