JPMorgan didn’t know, when it selected Indiana University student Sunjay Gorawara for its summer intern program, the bargain they were getting.On Tuesday, Gorawara was just another impressive, highly talented business school student. On Thursday, he had been mentally tattooed with a stamp that said: David Einhorn and Bill Ackman think I’m awesome.
On Wednesday at the Ira Sohn Investor Conference in New York, Gorawara scored the jackpot of endorsements from Wall Street: Bill Ackman, David Einhorn, Michael Price and Seth Klarman plucked his stockpicking idea as the best out of hundreds of proposals in the Ira Sohn Investment Idea Contest.
Gorawara’s prize-winning pick was for Bridgepoint Education — a very game choice considering that at the same conference last year, Steve Eisman proclaimed that private education was the new sub-prime bubble, and Eisman was talking again this year, after Gorawara.
Gorwara’s presentation was — even among those of heavy hitters like Ackman, Eisman, Einhorn, Phil Falcone and Jim Chanos — seriously good.
“The company crushed guidance every quarter since it IPO’d,” Gorawara informed a room full of investors with a huge photo of Eisman on the screen behind him, “and I know Steve Eisman will be thinking: Hey Sanjay, you’re out of the loop!” but Bridgepoint isn’t like its other private education brethren.
He explained that his mother had once taught him a lesson that “stereotyping may cause you miss out on a few unique individuals,” and that rule applies to investing. Stereotyping a whole sector might get you the right answer, Gorawara said, but you might also miss an unbelievable investment opportunity.
He thinks Bridgepoint will rise to $47 a share over the next 12 month — it already gained massively after the conference.
(Eisman was less concerned with his thesis being challenged, than the photo Gorawara used of him. “I had nothing to say about for-profit because I thought they’d put a hit out on me,” he said. “I really really despise that photograph of myself. It kind of makes me look a little fat – my parents are in the audience, and I’m sure my mother turned to my father and said, he’s a little more handsome than that.”)
- He graduated from high school in 2008 with honours, and was vice-president of a local chapter of Future Business Leaders of America.
- He earned a B.A from Indiana University’s Kelley School of Business — he was on a full academic scholarship — where he was part of the Investment Banking Club
- He landed an internship with Northwestern Mutual, and has since worked at Career Education Corporation, where he researched acquisition targets in for-profit education industry.
- He’s a basketball/soccer referee.
- His Twitter profile background is awesome.
The 21-year-old will be interning in JPMorgan’s investment banking division.
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