In a major development coming from the United States, the short selling group known for its stock market activism, Hindenburg Research, has decided to stop their operations. The short-selling group has been disbanded.
Hindenburg To Disband
In a note shared on the company website, and the on Hindenburg’s official X account, the founder made this major announcement.
This group was responsible for its exposes against the Adani group. Hindenburg Research took on Adani Group on two different occasions, accusing them of impropriety and deploying malpractices to aid their business.
The note from the group’s founder, Nathan Anderson’s, read, “As I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research.”
Nathan Anderson further added, “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.
I write this from a place of joy. Building this has been a life’s dream.
I did not know at the outset if it would be possible to find a fulfilling path. This wasn’t an easy option, but I was naïve to the danger and felt drawn to it magnetically.
When I started this, I doubted I was capable. I didn’t have a traditional finance background. None of my relatives are in this field. I went to a state school. I’m not a slick salesperson. I don’t know any of the right clothes to wear. I can’t play golf.”
Tremendously Fulfilling
Furthermore, he said, “I’m not some superhuman that can function on 4 hours of sleep. In most of my jobs I was a good worker but mostly looked over. I had no money when I started—and after catching 3 lawsuits immediately out of the gate, I quickly had less than no money. I would have failed right at the starting line had it not been for the support of world-class whistleblower lawyer Bryan Wood, who took the cases on despite my lack of financial resources. 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.”
Vindicating its stance, the he further added, “Sometimes this meant taking big swings and taking on fights that are much bigger than any of us as individuals. Fraud, corruption, and negativity often seem overwhelming. Early on, a sense of justice was usually elusive. When it happened, it was tremendously fulfilling. It kept us going when we needed it.”
Industrialist Gautam Adani | File
Why Is Hindenburg Being Disbanded?
Answering the question behind this sudden decision, the note further explains, “So, why disband now? There is not one specific thing—no particular threat, no health issue, and no big personal issue.”
Explaining it further, the note on the website read, “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. I probably could have had it all along had I let myself, but I needed to put myself through a bit of hell first.”
Hindenburg Not My Identity
He also said that he did not want his whole identity to be associated with Hindenburg Research. He also added, that this is just a chapter in his life.
“Beyond my own desire for relief, it also feels selfish to keep the knowledge we’ve accumulated trapped within our small team. I have more than enough. In the past several years we’ve been flooded with thousands of messages from many of you asking how we do what we do, or whether you can join the team.”, he added.
In addition, over the next 6 months or so Andersen also plans to work on a series of materials and videos to open-source every aspect of our model and how we conduct our investigations.
SEBI boss Madhabhi Buch was accused of having vested interest in the company and its cases. |
The Hindenburg Saga
Hindenburg came to limelight in India, when in 2023 accused the Gautam Adani-led group of violating market regulations. Later in 2024, it once again accused the company and even the market regulator SEBI and its chief of duplicitous behaviour. SEBI boss Madhabhi Buch was accused of having vested interest in the company and its cases.
These allegations ended up wiping out over USD 100 billion of Adani group’s resources, causing major damage to the company’s reputation.
