Dan Niles

Dan Niles studied economics at Stanford University and built a career as a technology sector analyst, working at major investment banks before founding Satori Fund. He gained wide recognition as a technology stock analyst at Robertson Stephens during the dot-com era. He founded Satori Fund as a long-short technology hedge fund, applying fundamental analysis of technology company prospects and valuations across multiple timeframes. Niles became widely known in financial media for his willingness to make specific, contrarian calls on individual technology stocks — often taking bearish positions in high-flying names when he believes valuations are stretched relative to fundamentals. He was vocal in 2021 about his bearish views on ARK Innovation ETF and high-multiple software companies, citing rising interest rate risk and multiple compression. This call proved prescient as the NASDAQ and growth technology stocks fell significantly in 2022. Niles is a regular commentator on CNBC and financial media, known for his direct communication style and willingness to defend his positions publicly even under significant market pressure. He represents a style of investment management that combines intensive sector research with a willingness to be publicly accountable for specific calls.