With a net worth of US$113.4 billion, the Indian industrialist is richer than Bill Gates and Warren Buffett. Read more at straitstimes.com.
Over the past few years, stock researcher and investor Nathan Anderson has made a name for himself with analysis that sends stocks sinking.
Hindenburg on Tuesday levelled a series of extraordinary allegations about the sprawling Adani Group conglomerate – the result, it said, of a two-year investigation into what it is characterising as a brazen scheme of stock manipulation and accounting fraud dating back decades. It is a remarkable turn for Mr Anderson, who first got Wall Street’s attention with takedowns of electric-vehicle makers Nikola and Lordstown Motors. Little Hindenburg has never swung at a company as big and powerful as the Adani Group. Mr Anderson briefly bet against Twitter as Mr Elon Musk was buying the company and then turned bullish on the stock last July.
Mr Anderson’s New York-based firm – technically a research and trading outfit, not a hedge fund with outside investors – is less than five years old and wagers its own money in the markets. Even in Manhattan’s financial circles, he is hardly a big name. Short-sellers, and the controversies that often surround them, have been around for as long as there have been stocks. The Dutch briefly outlawed the practice in the 1600s after traders shorted the Dutch East India Company, purportedly the first company in the world to issue shares. Lately, the United States authorities have looked into whether some shorts have occasionally colluded to attack companies.
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