Lone Pine's Mandel Likes Strayer Education (STRA), But Short Seller Jim Chanos Hates The Sector
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At the Ira Sohn Investment Conference yesterday, Stephen Mandel, the founder of hedge fund Lone Pine Capital, highlighted his investment in Strayer Education Inc. (Nasdaq: STRA), saying it is a company with a superior franchise. Mandel said there is a large under-served demand for working adult secondary education.
Also presenting at the conference, famed short seller Jim Chanos took the opposite view on the 'for profit' education sector. Chanos said government funding has fueled growth for the sector, which could change, and the companies valuation leave no margin for errors.
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