Original title: Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History (too long for HN post title, mea culpa, feel free to change it up dang)
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Evidence that Adani Group has engaged in stock manipulation and accounting fraud
61–70 of 230 posts
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#62> Initial Disclosure: After extensive research, we have taken a short position in Adani Group Companies
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Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#63I 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..
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Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#64He'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.
Sometimes, you just need to cut the cancer out.
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#65He'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.
I don't understand why any entity is "too big to fail".
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#66He'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.
According to Wikipedia Adani is in with Modi, the current Indian prime minster who likes to play favourites. Thus he could get quite a bit of protection at home.
But that may not protect him from a market run...
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#67If you think the US markets have a lot of fraud, they are paragons of virtue compared to India and China.
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Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#68If these companies assets or stocks go to zero or are locked due to fraud or something that makes the actual public stocks untradable, how do you get out of a short position? Borrowing and selling the stock means you can’t get it back to return to the original owner, and buying put options means you can’t sell the stock to the contract holder. Do you have to get out before it gets completely vaporized?
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
#69[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?
> 2. Your company produces something hugely useful / beneficial for society; in other words, it produces something hugely valuable.
2. Your company extracts value from everywhere it can, to the detriment of it's counterparties: employees, the environment, customers, partners, contractors
For one example: Amazon warehouse employees (contractors?) are not paid very well for very hard work. I'm sure someone has a comeback for this, but it is an example of value extraction.
Another: Amazon does not do a great job of policing counterfeits, to the detriment of customers.
Another: Sellers on Amazon have a variety of complaints, you can look them up.
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If the business existed for the purpose of being ethical, these conditions would not exist. The business exists for the purpose of extracting value.
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Edit: Put another way - If your company ONLY produces something highly valuable, then someone can simply create a competing product and undercut you.
An example of this is looking at drug prices when patents expire. Generic drugs can be sold for MUCH cheaper than the patent protected "name brand" drug. The product is highly valuable, but may not be high cost, unless it is protected in some way.
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Edit edit: If you want to defend these companies or capitalism in general, that's fine with me.
I would like to gently point out that sometimes we dance on very fine lines of morality in the course of doing business.
Re: Evidence that Adani Group has engaged in stock manipulation and accounting fraud
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Hindenburg Research have a pedigree. I don't find these sorts of reports at all readable either, but that doesn't mean that the people they're aimed at (investors, etc) don't. I assume it's an industry style because it's worked for them in the past.