Net worth has plummeted by nearly 200 billion yuan! Asia’s richest man is attacked by short sellers

On January 25 local time, Hindenburg Research, a well-known short-selling agency on Wall Street, released a long report of nearly 100 pages, targeting Gautam Adani, the richest man in Asia. Hindenburg Research said its two-year investigation found “a brazen stock manipulation and financial fraud scheme by the 17.8 trillion Indian rupees ($218 billion) Adani group.” According to Bloomberg’s Billionaires Index , as of January 29, 2023, Gautam Adani ranked seventh with a total net worth of US$92.7 billion (approximately RMB 628.9 billion). Since the beginning of 2023, Gautam Adani’s net worth has shrunk by 27.9 billion U.S. dollars (about 189.3 billion yuan), a drop of more than 20%. | Related reading (Times Weekly)

Qian Xinyue

As soon as the 100-page Hindenburg report was released, Adani Group responded immediately, saying that it would take legal measures to attack Hindenburg’s rumors. It has been a few days since the incident, but at present, the Adani Group seems to have no further actions to better respond to the incident.

When everything is in the fog, it is reasonable for some sensitive investors to choose to run away first. After all, no matter whether it is accusation of stock manipulation or financial fraud, whichever is confirmed, it can only be a fool’s dream to run away later. Of course, even if it turns out that the Hindenburg Research report is nonsense in the end, the future expected income lost by investors who run away now is far less than the possible major losses. location.

From this point of view, panic following human nature is more reasonable than putting all your eggs in one basket. After all, most investors are not major shareholders, and there is no need to die to the end when the risks far outweigh the benefits.

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