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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Will allow only individuals with more than two children to contest local body polls: Andhra CM
Tirupati (Andhra Pradesh) (PTI): Andhra Pradesh Chief Minister N Chandrababu Naidu said that an individual can become a sarpanch, municipal councillor or a mayor only if he/she has more than two children, hinting that it will arrest the falling population.
Naidu said he will bring out policies to encourage people to have more children.
"At one time, individuals with many children were not allowed to contest the panchayat (election) or local bodies. Now what I am saying is that individuals with lower numbers of children cannot contest. You will be a sarpanch, municipal councillor, corporation chairman or a mayor only if you have more than two children," he told reporters in Naravaripalle here recently.
According to the CM, North India may lose its advantage of having a stable fertility rate in about 15 years.
The TDP supremo noted that the older generations had more children, while the current generation brought it down to one child and also highlighted that some 'smart' people nowadays are going for double income no kids (DINK) concept to enjoy.
"Your parents bore four to five children and you reduced it to one. Even smarter people now are saying double income no kids let us enjoy. If their parents had thought like them, they would not have come into this world," he said.
All countries made this mistake, and we have to make the decision at the right time, said Naidu, adding that the importance of having more children was not stressed and the situation went out of hand.
Citing countries like South Korea and Japan and continental Europe, he said people in those places did not realise the danger of plummeting populations but only focused on creating wealth, raising income and taking those countries forward.
"Now they need people, we have to send them. We came to that situation," Naidu added.
Early this month, Naidu flagged the falling birthrates and said India should not repeat the mistakes committed by other countries such as South Korea and Japan, where birthrates have plummeted.
The CM said some couples are averse to having children nowadays because they do not want to share the money they earned and use those riches for their own enjoyment.
Naidu, in October last year, said there was a need to manage the population in Andhra Pradesh given that there will be an increase in the aging population.
"Till 2047, we will have the demographic dividend, there will be more youngsters. After 2047, there will be more old people…if less than two children are given birth (per woman), then the population will reduce. If you (each woman) give birth to more than two children, then the population will increase," Naidu had said.
