On January 15, the United States-based investment research firm shut down its operations. This was announced by its founder - Nate Anderson.
Widely known as a firm that indulged in aggressive short-selling tactics, Hindenburg Research had managed to impact and wipe billions of dollars in Adani Group stocks’ valuations.
According to The Times Of India, in January 2023, Hindenburg's research report had caused a whopping $150 billion decline in the share prices of the Adani Group.
Throughout the publications, Adani had maintained a strong stance of innocence and denied every allegation.
This had also made the research firm gain international prominence.
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NATE ANDERSON ON WHY HINDENBURG SHUT DOWN
In a personal statement, Nate Anderson revealed that the firm's closure was not something sudden. In fact, it was already in the pipeline.
Anderson shared that he now wanted to achieve a work-life balance and also share the firm's investigative results with the public.
Explaining the personal costs behind doing what he did, he wrote, “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.”
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Anderson started Hindenburg with minimal capital. When lawsuits against the firm were filed, he was left with “less than no money.”
He wrote, "I had a newborn child and was facing eviction at the time. I was terrified, but knew that if I stayed still I would crumble. The only option I had was to keep moving forward.”
Talking about how he started with almost no traditional experience in the realm of finance and also hired a team that was the same in terms of qualifications, Anderson stated that he's not a superhuman who could survive on 4 hours of sleep.
Explaining the impact that the investigative research firm made, Nate wrote, “Nearly 100 individuals have been charged civilly or criminally by regulators at least in part through our work, including billionaires and oligarchs. We shook some empires that we felt needed shaking.”
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