4 ms·

Ah such a shame the article just missed one of the most explosive reports [1] by Hindenburg Research. It's shaken up the richest man in India and the BJP govern

Ah such a shame the article just missed one of the most explosive reports [1] by Hindenburg Research. It's shaken up the richest man in India and the BJP government as a consequence. The story even made it to HN's front page. [1] https://hindenburgresearch.com/?p=2376 https://hindenburgresearch.com/?p=2376

curiousgal 4y ago
I am going to play the "Devil"'s advocate here, let's suppose that the report is true and that the company has committed all sorts of fraud. What would happen to the mass of people it employs it it were to go under? I just don't believe that entire families should suffer because the CEO has been lying to investors.
- skybrian 4y ago
  If the underlying businesses are valuable then after bankruptcy, the stockholders lose, but the businesses should continue to operate under new owners. This happens all the time. (Hertz is one example.) It doesn’t happen when the whole business was a confidence game, like FTX.
- shapefrog 4y ago
  If my criminal fraudulent enterprise collapsing means no more private school for timmy and jane my children, I should be permitted to perpetuate my fraud on others?
  - kerpotgh 4y ago
    [dead]
- snapcaster 4y ago
  I appreciate the satanic advocacy My response is that this isn't just a "belief" kind of thing where if hindenburg doesn't release the report everything is fine. There is actually a fraud occurring, and when a fraud is occurring that means there is a "hole" like a place where people expect there to be money but there isn't. This means eventually it would have manifested at one point or another, and often the nature of these "holes" is that they become exponentially wider probably meaning the fallout is even more intense the longer it goes on
spaceman_2020 4y ago
The reaction of both the Adani group and BJP's supporters to this report has been absurd. Adani trotting out the national flag in the background to respond to the complaints, and BJP supporters equating it with an "attack on India". A poor, immature look. Not something mature markets do.
- mavelikara 4y ago
  "Patriotism is the last refuge of the scoundrel." - Samuel Johnson
- latency-guy2 4y ago
  Is it time to short INR?
skybrian 4y ago
Yeah, it missed it because the article is from a year ago.
- vishnugupta 4y ago
  aargh! My internal calendar's year is still in 2022 :-|
NickC25 4y ago
Adani lost like $20 billion USD in one day due to that. That's insane. Having read Bloomberg articles about Hindenburg's position, I completely get why he's short - Adani is engaging in fraud.
rhaway84773 4y ago
The article was written before this. It’s likely the overseas conglomerate the article says Anderson is currently investigating, whose corporate register in Mauritius he just downloaded is Adani.

curiousgal 4y ago

I am going to play the "Devil"'s advocate here, let's suppose that the report is true and that the company has committed all sorts of fraud. What would happen to the mass of people it employs it it were to go under? I just don't believe that entire families should suffer because the CEO has been lying to investors.

skybrian 4y ago
If the underlying businesses are valuable then after bankruptcy, the stockholders lose, but the businesses should continue to operate under new owners. This happens all the time. (Hertz is one example.) It doesn’t happen when the whole business was a confidence game, like FTX.
shapefrog 4y ago
If my criminal fraudulent enterprise collapsing means no more private school for timmy and jane my children, I should be permitted to perpetuate my fraud on others?
- kerpotgh 4y ago
  [dead]
snapcaster 4y ago
I appreciate the satanic advocacy My response is that this isn't just a "belief" kind of thing where if hindenburg doesn't release the report everything is fine. There is actually a fraud occurring, and when a fraud is occurring that means there is a "hole" like a place where people expect there to be money but there isn't. This means eventually it would have manifested at one point or another, and often the nature of these "holes" is that they become exponentially wider probably meaning the fallout is even more intense the longer it goes on

spaceman_2020 4y ago

The reaction of both the Adani group and BJP's supporters to this report has been absurd. Adani trotting out the national flag in the background to respond to the complaints, and BJP supporters equating it with an "attack on India". A poor, immature look. Not something mature markets do.

mavelikara 4y ago
"Patriotism is the last refuge of the scoundrel." - Samuel Johnson
latency-guy2 4y ago
Is it time to short INR?

skybrian 4y ago

Yeah, it missed it because the article is from a year ago.

vishnugupta 4y ago
aargh! My internal calendar's year is still in 2022 :-|

NickC25 4y ago

Adani lost like $20 billion USD in one day due to that. That's insane. Having read Bloomberg articles about Hindenburg's position, I completely get why he's short - Adani is engaging in fraud.

rhaway84773 4y ago

The article was written before this. It’s likely the overseas conglomerate the article says Anderson is currently investigating, whose corporate register in Mauritius he just downloaded is Adani.