Hindenburg Research, the US-based short selling firm that attracted attention for its ballsy bets against Adani Group and Nikola Corp, is shutting down.
Nathan Anderson, who founded the firm seven years ago, said his relentless pursuits of large conglomerates over their accounting had taken a toll and came at the expense of “missing a lot of the rest of the world”. So it sounds personal.
But short-selling generally is in something of a rut. Jim Chanos told investors he was closing his short focused funds in November 2023 after more than three decades.
Bill Ackman has sworn off it altogether (he’s apparently busy building “a modern day Berkshire Hathaway”).
Anderson says around 100 individuals have been charged, criminally or civilly, in relation to Hindenburg’s reporting.
Gautam Adani, the world’s third richest man who is indicted by the US over fraud charges, would be the cherry on top.
