Comments
JKKIDD231 t1_j6hvxac wrote
Plus Hindenburg Research made millions with their calculated report, which I believe to be true as its known that Adani has lots of debt on hand but they knew what the response would be in market so they shorted the Adani stocks worldwide before releasing the report and make huge bucks while at it.
captainktainer t1_j6hy2ld wrote
Yeah, they revealed their short positions as part of their data release, which is exactly what they should do. This is literally one of the reasons short sellers exist and why regulators are fine with reports like this - they profit off of research showing companies are overvalued, just as stock promoters profit off of releasing research showing positive trends for a company. The market will be healthier now that it's aware of Adani Group's fraud as a risk for future performance. It's not market manipulation in regulators' eyes and never will be.
pzerr t1_j6icc3g wrote
As long as they are accurate or not embellishing the report.
Midnight2012 t1_j6i41oc wrote
This is what driving incentives to uncover the truth. People won't do such extensive and expensive research on a company if their isn't room for profit. These arnt charities or government organizations.
Test19s t1_j6iahee wrote
The company that brought him down is called Hindenburg? This is a joke right!?
ProtoplanetaryNebula t1_j6isnwc wrote
It's intentional, they do research that brings companies down to the ground in flames, like the Hindenburg. That's why they chose the name.
Test19s t1_j6j8pfj wrote
So they’re basically intentionally using comic book villain names.
WSBNon-Believer t1_j6jyh2v wrote
Or Zeppelin names
Hershieboy t1_j6iwagj wrote
Oh, the hilarity.
JKKIDD231 t1_j6ib88g wrote
LOL yes Hindenburg Research, google it
DA1725 t1_j6h1377 wrote
Good, hopefully its a fking wake up call for the blind RWs who blindly support anything BJP does and this scammer who is hiding behind them.
A_random_zy t1_j6h4ky0 wrote
lol those idiots are saying it is an attack on India. All those have 5000 rupees to "let go of" invest in Adani. And Adani fucking over indigenous people for his coal mines is a myth.
All this coz Adani is Modi's sugar daddy...
Btw hi RW brigaders bring on the downvotes.
As an Indian I couldn't care less if Adani goes bankrupt.
DA1725 t1_j6h4rm9 wrote
Yeah I know those blind fools are too brainwashed but even a small change is at least a start.
Bourbon-neat- t1_j6i18ne wrote
It's crazy to me how people could get wrapped up in a countryman's fortune as some representative of their nation.
Like if Musk continues to justifiably hemorrhage money because his car company is (over)valued like a tech company that has no direct bearing on me or certainly not the image of the US.
What a weird concept
Brapb3 t1_j6ihpzq wrote
My crooked billionaire oppressor is richer than your crooked billionaire oppressor!
hedronist t1_j6iwyol wrote
Well, maybe an hour ago.
dynamicEntr0py t1_j6id4su wrote
Just third world things.
[deleted] t1_j6ihnap wrote
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Amstervince t1_j6j8m7r wrote
Uhm yea Musk isn’t American..
Bourbon-neat- t1_j6j90jm wrote
Not natively but he's a US citizen, unless you're arguing that US citizens who aren't born in the States aren't American.
technitecho t1_j6hef3r wrote
The only thing i am afraid of is banks having a bank run situation if adani falls quickly. Thousands of people will get affected as adani is tied up with lic etc
golden_sword_22 t1_j6hgpp6 wrote
>The only thing i am afraid of is banks having a bank run
Most of his debt isn't from Public sector banks.
sachblue t1_j6iugdx wrote
My whole family uses SBI, so hoping that bank is not affected too adversely...
A_random_zy t1_j6hejoy wrote
I mean that's inevitable. I'm worried about it too but what can be done other than hope misery for the cunt.
technitecho t1_j6heone wrote
>misery for the cunt.
That asshole will never suffer. He will fly off to the UK or some other nation and live comfortably for the rest of his life
misconfigbackspace t1_j6i3c1c wrote
That will stop a further loot of the country.
It's a sunk cost, let it go.
We take whatever remains and rebuild.
The earlier such people get out the better.
Hopefully these rats take the ship with them.
But that's not what is going to actually happen. India's misfortune is not ending any time soon.
Which of the 25-30 fugitives are back?
Forget the 15 lakhs and Swiss bank accounts from pre-2014/pre-2016, the amounts transferred after 2014 are not coming back, and in fact increasing.
[deleted] t1_j6hengj wrote
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JKKIDD231 t1_j6hw0p7 wrote
I am still surprised how Australia just gave him the mines.
GoneSilent t1_j6h8xtw wrote
nope He has the Gov helping prop him back up
chintakoro t1_j6hi26c wrote
that’s what many are missing here. adani is a strategic asset for the ruling party. it will prop them up if they continue doing their bidding. and adani will keep pumping the party with money. it’s been a win win for them so far.
[deleted] t1_j6hy9hm wrote
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Big_Simple_1782 t1_j6h8abh wrote
This guy and his company are just a scam being underwritten by public money thanks to his best friend who is the prime minister of India.
He has no fear of any Indian agency where majority of his scams occur.
But when he goes down he’ll take a lot of middle class and poorer peoples life savings with him.
golden_sword_22 t1_j6hgnfg wrote
Most of funding he has raised till now has been via the bond market which probably includes subscription by various financial institutions like LIC but it's not completely public money as you are making it out to be.https://scroll.in/article/923201/from-2014-to-2019-how-the-adani-group-funded-its-expansion
Big_Simple_1782 t1_j6hxhab wrote
You’re no doubt correct. I’m not a technical guy, but even I can tell he’s full of shit and is purely a crony capitalist.
vampiretrades t1_j6gv7ju wrote
Gotta be hindenburgs biggest short report ever.. and will make bank... but they don't fear for their lives now?
bucketsofpoo t1_j6gyc0v wrote
they going to be chopped up and cooked in a tandoori oven
Test19s t1_j6iatwe wrote
That’s a Saudi thing, not an Indian one. Unless their execs are caught slaughtering cows, they’re safe
misconfigbackspace t1_j6i3sbz wrote
India's not a terrorist state. We don't actually kill civilians in other countries for exposing crimes. That only happens with Indians in India. If you're famous enough, you will be imprisoned forever, not assassinated.
[deleted] t1_j6hw99i wrote
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mm_mk t1_j6i7wnz wrote
It's not stock manipulation. They reported their short position in the data. They did exactly what shorts are supposed to do from a market health perspective. They are supposed to profit because if they didn't, there would be no incentive to investigate bullshit companies
vampiretrades t1_j6l5g7k wrote
I fully agree with you, and im totally against sec investigating shorts and banning short positions etc. Etc. But just for argument sake... why is it not the same as frontloading? You're taking a position then telling people you love or hate the stock?
mm_mk t1_j6l817g wrote
From investopedia: >There is some grey area here. For example, a professional short-seller may accumulate a short position and then publicize the reasons for shorting the stock. This seems perilously close to a short-seller's version of a pump-and-dump scheme, in which a speculator hypes (or bashes) an investment for personal gain.
>There is a distinction, however. The short-seller in this example reveals the personal financial stake at the time of the recommendation. And, the information conveyed by the short-seller reflects a genuine fact-based view of the outlook of the stock shorted rather than a falsehood intended to mislead.
vampiretrades t1_j6lbdz8 wrote
Intersting.. id agree facts or at least opinion based on valid research is a little more legit and not in the realm of manipulation.
brain_gehirn t1_j6gqnju wrote
Reminds me of Elon
ergastulite t1_j6gvm5u wrote
Musk lost 33 billion buying Twitter. I think he is still the world's biggest loser.
moronic_cms t1_j6h4ftn wrote
It's like he's trying to use Tesla Full Self-Driving to turn Twitter around.
GormlessFuck t1_j6hetpk wrote
Why does he just get to walk away from his Hyperloop fucking bullshit?
SpookyGeek t1_j6gt6r5 wrote
I don't know who he is but good. Nobody needs that much money.
electromagneticpost t1_j6h9kzw wrote
I don’t know anything about the guy, but it’s not like that’s in cash, most money is in equity, that’s how he can lose so much, is because the value of his shares fluctuate.
Lodumal-cum-boy t1_j6hcltr wrote
He has plenty of shell companies outside India to increase his stock prices. All his stocks are highly inflated by the debt taken from gov and pvt banks. He holds many ports, airports contracts, media houses in india, so if he goes down he can take many innocent lives together( though it wont matter him much as compare to regular stock market joe and business)
In short, running scam with gov involved( no proof, but it is very much clear how his projects are getting approvals)
Shigsy89 t1_j6grgit wrote
Him and musk should start an emotional support group.
aubd09 t1_j6hfdof wrote
Adani and Musk have nothing in common. Musk was indeed a true visionary before mysteriously losing his mind. Adani is a fraudster from day 1.
phyrros t1_j6hie1i wrote
In all seriousness: In what way was Musk a true visionary?
[deleted] t1_j6hm49n wrote
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phyrros t1_j6hmg6m wrote
yeah, and spaceX only exists because Musk thought that Russian aerospace engineers where disrespectful to him. The whole thing was a pet project out of spite and not vision.
druex t1_j6hncmz wrote
Musk is a rich kid that funded a bunch of "cool projects" and eventually grew bored with.
fodeethal t1_j6htabd wrote
Lol if he (his company) can revolutionize space travel with a pet project... that's pretty damn good.
Seems like a vision with a massively successful follow through to me.
Can you Imagine if NASA still had to completely rely on Russia in this current geopolitical climate for space travel?
Edit: He may be a POS in ways and benefited off major public-funding support, but let's appreciate the nuance and reality of life.
SpaceX existing is critical for the USA. Unfortunately NASA couldn't do it alone thanks to their standard (lack of) funding levels.
Happy to be corrected if wrong.
phyrros t1_j6huo4f wrote
>Lol if he (his company) can revolutionize space travel with a pet project... that's pretty damn good.
Absolutely - it is just not visionary. For somethign to be visionary i has to be novel 6 somewhat non-trivial . Musk literally just said "I will show it those aeronautic engineers!!" and then paid money for people to develop concepts.
​
Nice and dandy, not visionary.
​
PS: No,- spaceX existing isn't critical for the USA, it is symptomatic for the neo-liberal USA. Pushing development to private companies with hidden subventions is simply a suboptimal solution.
fodeethal t1_j6hwa7q wrote
I appreciate the rebuttal and I'm sorry for continuing a semantics debate... but....
Does it not require a vision to believe you can not only enter, but revolutionize an existing 'cutting edge' industry?
I guess it depends on how close other firms were to implementing or even considering vertical landing and recovery technology.
To my knowledge, SpaceX shifted the paradigm of space logistics. (Obviously not without help of established industry tech and experts)
In conclusion, I believe that to be at least somewhat visionary.
phyrros t1_j6hzejb wrote
>I guess it depends on how close other firms were to implementing or even considering vertical landing and recovery technology.
Aside of i being done in the 50s by russians and NASA having a working prototype ? https://en.wikipedia.org/wiki/McDonnell_Douglas_DC-X
​
But I meant a completely different point: Do look at the acomplishments in the 50s/60s and you will see the actual inventors/engineers being lauded for their visionary ideas. And now look at the last 20 years and you will see the managers/CEOs being lauded for the visionary ideas of their engineers.
So:
>Does it not require a vision to believe you can not only enter, but revolutionize an existing 'cutting edge' industry?
If I would believe that Elon Musk did any part of development I could accept "visionary" (somehow..) but as it is Musk seems to have about nothing to do with the development of SpaceX except being a posterboy for money. And no, this isn't what I call visionary because kids since the 19th century dreamed of flying to Mars....
die_a_third_death t1_j6hhkmo wrote
"mysteriously"
Shigsy89 t1_j6i04yx wrote
My comparison was that they both lost many billions in a matter of days. How you thought the comment meant anything else is beyond me.
Silkscales t1_j6gxvus wrote
Good, fuck him.
JarKachYn t1_j6h8ak8 wrote
Stock market losses of $66 billion over three days...
autotldr t1_j6gtxzh wrote
This is the best tl;dr I could make, original reduced by 90%. (I'm a bot)
> Hindenburg homed in on several loans between Adani entities, including a US$253 million loan from a Mauritius-based shell company - which appears to be controlled by Guatam Adani's brother, Vinod Adani - to a private Adani-owned entity, which then lent US$138 million to Adani Enterprises, a publicly traded company.
> Money raised by Adani Green Energy or Adani Ports may "Just get transferred to Adani Power and Adani Enterprises, and then goes towards building more coal fired power plants or more coal mines," Buckley says.
> The Adani Group's plan to develop the world's largest coal mine in Australia provoked the Stop Adani campaign.
Extended Summary | FAQ | Feedback | Top keywords: Adani^#1 Bank^#2 Group^#3 company^#4 Hindenburg^#5
And_yet_here_we_are t1_j6h49i1 wrote
Please! Won't someone think of the coal mines?
Hindsight_DJ t1_j6heo3i wrote
> following the publication of short seller Hindenburg Research’s explosive 32,000-word report
Oh the humanity…
amolpi t1_j6i554o wrote
Adani is not India. All these fraudsters looting Indias hard earned money. They should go down
SokarRostau t1_j6hbtjk wrote
I'm confused. The comments and the title of the post refer to something that doesn't even seem to get mentioned in this article about Adani being a giant con.
scottycakes t1_j6hw33h wrote
Saddest part is that he’ll be just fine. Not that anyone deserves to suffer but that amount of wealth is unfathomable.
Bps33382 t1_j6iqylt wrote
Anyone can check that Adani companies are highly Overvalued --Some company PE was close to 400 but that news is already in the market... Adani has taken debt from bank but in last rwo year majority came through Bonds... SEBI had in passed raised Stock manipulation on Adani that time many adani companies lost 40-60% valuation but they came back in month or two...
Just today some firm from Saudi has said they will be investing 400 mn dollar in Adani .
Adani came with lot of baggage like ,high debt/high valuations, many old cases on wrong business activity and finally adani was raising Rs 20000 cr through India Biggest FPO,which hidenburg knows so they timed it right and made money... nothing which Hidenburg was saying is new or was not in the public domain...
[deleted] t1_j6grlvo wrote
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reddideridoo t1_j6hfwi1 wrote
Doinks
Wild_Ostrich5429 t1_j6ht1jz wrote
Scammer to hell
LombardiX t1_j6ifhmh wrote
Poor soul
johnp299 t1_j6ikx7g wrote
It's always the last place you look
[deleted] t1_j6jix4n wrote
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Compkriss t1_j6kedxt wrote
So is Elon on 2nd place now?
Insufferablelol t1_j6kixll wrote
This is amazing news.
mtl_jim t1_j6iop85 wrote
I’m kinda tired hearing about how certain billionaires lost so many billions, and yet are still billionaires. Are we supposed to provide sympathy or pity or something?
DELINQ t1_j6j12bk wrote
What are you talking about? Neither the article nor comments here (save for one) are sympathetic.
Sorry_Decision_2459 t1_j6hse63 wrote
So the fuck what? We’ve got bigger things to worry about in this world than some rich asshole losing a bunch of money
DELINQ t1_j6j0kyf wrote
Whatabout-
throwawayfree41 t1_j6hycql wrote
HOW DARE YOU...???
If not Adani then who ????!!!!!!
Who else is among India's businessmen ???? HUH ???
We now only have the likes of.......Mahindra, Tata, Ambani, Bajaj,Jindal, Poonawala, Nadar, Birla, Hinduja,Godrej, Yusuf Ali,Bhadresh Shah..................wait India has someone other than Adani......................ohhh............................well this is awkward now.......
https://www.forbes.com/india-billionaires/list/
Don't cry about Adani, he is not India and India is not Adani.
If he is innocent his business will survive, if he is guilty his business will not.
tijR t1_j6gqor7 wrote
That scammer deserves to be in jail.