Short-seller Hindenburg Research, whose report accused Adani Group of fraud, disbanded
Washington (PTI): Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down, its founder Nate Anderson announced Wednesday.
“As I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today,” Anderson announced.
In the last few years, Hindenburg Research had launched a campaign against the Adani group. Its reports published since 2023 had resulted in billions of dollars of loss for the Indian billionaire. All the charges were denied by Adani and his companies.
The sudden and surprising announcement by Anderson comes within days of a Republican Congressman, a member of the House Judiciary Committee, asking the Department of Justice to preserve all the documents and communications related to the investigations of Adani and his companies.
Anderson did not give a specific reason for disbanding his organization, which is less than a week before the end of the four-year term of the Biden Administration and the swearing-in of Donald Trump as the 47th President of the United States on January 20.
“So, why disband now? There is not one specific thing—no particular threat, no health issue, and no big personal issue. Someone once told me that at a certain point a successful career becomes a selfish act. Early on, I felt I needed to prove some things to myself. I have now finally found some comfort with myself, probably for the first time in my life,” he said.
“I probably could have had it all along had I let myself, but I needed to put myself through a bit of hell first. The intensity and focus has come at the cost of missing a lot of the rest of the world and the people I care about. I now view Hindenburg as a chapter in my life, not a central thing that defines me,” he said.
In an interview to The Wall Street Journal, Anderson said he looks forward to taking up hobbies, travelling and spending time with his fiancée and their child, adding that he has earned enough money to provide for them in the future. He said he plans to invest his money in index funds and other low-stress investments.
Anderson said for now, he will be focused on making sure everyone on his team lands where they want to be next.
“Some are going to start their own research firm, which I will strongly and publicly encourage, even as I will have no personal involvement. There are others on our team who are now free agents—so feel free to reach out to me if you have a need for anyone who is brilliant, focused, and easy to work with, as they all are,” he said.
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Rain washes out Super Eights match between New Zealand and Pakistan
Pallekele (Sri Lanka) (PTI): New Zealand and Pakistan shared a point after incessant rain forced the abandonment of the opening T20 World Cup Group 2 Super Eights match here on Saturday.
Amid a slight drizzle, Pakistan won the toss and elected to bat first.
But the steady droplets soon transformed into relentless pouring, forcing the officials to call off the match without a ball being bowled.
Before the skies opened up, Pakistan made one change to their eleven, bringing in Fakhar Zaman in place of Khawaja Nafay.
New Zealand made three changes with skipper Mitchell Santner back after missing the last match against Canada due to a stomach issue and Lockie Ferguson and Ish Sodhi also found a place in the XI.
But all those calculations and combinations will have to wait for another day, as Pakistan will now face England here on February 24.
New Zealand will make a light travel to Colombo to face home side Sri Lanka on February 25.
The washout has also placed both the Kiwis and Pakistan in a relatively tighter place ahead of their remaining two Super Eights matches.
A similar result in any of the following matches, a possibility considering Sri Lanka’s weather pattern, or a defeat can put their semifinal ambitions in serious jeopardy.
