Probably almost everyone was thinking, fearing ( or hoping ) it was Elon Musk when they clicked the link. He was no longer #1.
Evidence that Adani Group has engaged in stock manipulation and accounting fraud
41–50 of 230 posts
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#42He's too big to fail status in India, so it'll be interesting to see how their short position unfolds. They can keep the scam going for much longer than Hindenburg can keep their short I imagine.
adani will take down entire indian economy with it.
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#43Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#44Wow. Adani is super scummy, and from research when they were starting construction on a big mine in Australia we knew they were structuring their tax affairs to not pay any tax here [1], but all this is something else. They have been suing a climate activist here for millions of dollars, and as part of it they had private investigators following him, his wife, and his children , including photographing his children w…
Yep - that's them.
They're also fully trans national scumbags and haven't limited their bad behaviour to just India and Australia, they don't mind a contraversal resource | energy project or three.
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#45This is reminiscent of the FTT/SRM debacle: 1. A highly illiquid asset that's mostly owned by the founder 2. Price manipulation to artificially inflate the asset price 3. Mark-to-market accounting to artificially inflate the market cap 4. Using the inflated market cap to justify borrowing billions in liquid assets 5. A downturn in the market and... the money's gone
For a second I thought you meant FTX, which also fits the bullets.
FTT is the token that FTX made up, same thing.
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#46Earlier quoted context omitted.
Given that we're reading this, it's probably priced in by now. But in principle the answer would be yes, but only with money you can afford to lose; any investment on a single-name stock is risky, and shorting is even more so.
And it's shorting, so no cap on losses, right?
Naked short sure, but you could buy some out of the money calls to cap your max loss. It’d just eat into the profit margin of your total bet. If you’re going to keep shorting more on the way down it gets more complicated.
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#47[flagged]
1. You own a company. 2. Your company produces something hugely useful / beneficial for society; in other words, it produces something hugely valuable. 3. Your company is therefore valuable, making you super wealthy. Which part of the above is unethical?
OP said "super wealthy" not wealthy. There is a difference.
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#48If you think the US markets have a lot of fraud, they are paragons of virtue compared to India and China.
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#49I am afraid, now modi will ask to ban HN! He won't stand this insult on his biggest friend and greatest money source. Like the govt is trying to ban the BBC documentary..
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#50[flagged]
1. You own a company. 2. Your company produces something hugely useful / beneficial for society; in other words, it produces something hugely valuable. 3. Your company is therefore valuable, making you super wealthy. Which part of the above is unethical?
The usual relevant questions here are:
1) Are there externalized costs?
2) How much the value is actually created by owners vs other labor within the company?
3) Are all participants rewarded proportionally to the value they create, or is there a labor-value arbitrage going on?
One simplifying/ideological model attributes the company's existence essentially to the owners and posits therefore obviously they deserve all the value and/or that every employee is participating purely voluntarily and so whatever they agree to must necessarily be fair. Another only recognizes the labor theory of value and would find anything other than a coop immoral.