TRAVELERS REST, S.C. — When Chris Drose isn’t taking classes and finishing up his senior year at Furman University, he enjoys researching companies and trying to determine the true value of their stock prices. It’s not only a talent that helped pay some of his college expenses, but one that Forbes magazine has recognized by naming Drose to its fifth annual list of “30 Under 30” in Finance.
The magazine’s 2016 list recognizes “America’s most important young entrepreneurs, creative leaders and brightest stars” in a total of 20 categories, including Art and Style, Sports, Music, Education, Science and Media.
At 21, Drose was the youngest person included in the Finance category.
Drose’s national profile rose this summer when the Wall Street Journal reported on a story Drose posted to his website, Bleecker Street Research, about American Addiction Center Holdings, Inc., a company in California. Drose’s post, which alleged widespread negligence at the company, pushed the stock down as much as 54% and knocked nearly $387 million off its market capitalization. In early January of 2016, the company’s stock price was still off 57 percent from its high.
In its write-up on Drose, Forbes said the “Furman University senior founded a stock research outfit that specializes in short ideas. His detailed report on American Addiction Centers caused the company’s stock to fall by as much as 50% in August to levels from which it has still not recovered.”
Drose, an economics and English major from Charleston, became interested in finance after taking a freshman seminar on stock market bubbles with Furman business professor Tom Smythe. He began writing for “Seeking Alpha,” a website devoted to financial markets, and later founded his own site, Bleecker Street Research.
Drose learned more about investing and asset allocation during an internship at the Furman Endowment office with Kris Kapoor and Rob Kenney, sitting in on meetings with funds the endowment is invested in. He said he also majored in English so he could “learn how to write and communicate better.”
Drose said he will join a hedge fund in Atlanta after graduating from Furman in May.