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Washington, Jan 16 (PTI): Hindenburg Research, a US investment firm and research company that engages in short selling and whose reports at one point destroyed the wealth of Indian billionaire Gautam Adani and his group of companies, has been shut down, its founder Nate Anderson announced on Wednesday. “Similar to what I told my family, friends and our team late last year, I have decided to wind Hindenburg Research. The plan has been to wind it up after we finished all the pipelines with ideas that were there. And as regards the last few Ponzi cases we have just completed and are filing with the regulators, that day is today,” Anderson announced. Hindenburg Research has from 2020 to mismark the Adani group. The reports started marking losses in 2023 owing to billions of dollars loss for the Indian billionaire. Adani and his companies denied all the allegations made. The unexpected decision by Anderson comes within days of a Republican Congressman, a member of the House Judiciary Committee, speaking to the Department of Justice regarding the Adani and companies investigations requesting them to preserve all the documents and communications relevant to the said investigations.
Anderson has not explained why he opted to wind down his organization, which he did less than a week before Biden's four year term came to an end and Donald Trump was sworn in on January 20 as the 47th President.
“Why give it up at this time? There isn’t a single instance of a health or a personal problem that stands out as problematic. You know, someone told me in the past that being successful often becomes about self-interest. I was in that situation once when I thought there are things that I need to prove to myself. Now I have come to some ease within me, perhaps for the first time,” he remarked.
“In reality, I could have avoided even going through that if I had been capable of forgiving myself. Then I wouldn't have had to endure everything. I'm starting to realize Hindenburg isn't the epicenter of my life, it's just one aspect of who I am,” 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 young child, adding that in his opinion, he has earned enough money to provide for them in the future. He stated that he doesn’t have time to be daily wondering where to invest money but plans to put it into index funds and other assets that will not require great efforts to manage them.
