Hindenburg Research: WSJ journo Ben Foldy’s book to offer timely peek into shut US short-seller behind Adani sell-off

Hindenburg Research shutdown: Ben Foldy, a Wall Street Journal (WSJ) journalist, has announced a book on US-based short-seller Hindenberg Research, which rattled Adani group with revelations that sparked a $100-billion sell-off, and its founder Nathan Anderson. The development comes amid the disbanding of the US-based short-seller, announced by Anderson on its website on January 15.

“Big news in the world of short selling and fraud... also as good a time as any to publicly announce that I'm currently on leave from @wsj writing a book on @NateHindenburg and @HindenburgRes,” Ben Foldy wrote on X.

Hindenburg Research disbandment

Nathan Anderson, the founder of Hindenburg Research, announced the disbanding of the US-based firm whose reports on major companies such as Adani Group and Nikola led to short-selling by investors and investigations by authorities.

Hindenburg Research was established in 2017 by Nathan Anderson, who cited the toll of the work's "rather intense, and at times, all-encompassing" nature as the reason for his decision in a detailed post on the firm's website.

In his letter, he wrote, “I write this from a place of joy. Building this has been a life’s dream. I did not know at the outset if it would be possible to find a fulfilling path. This wasn’t an easy option, but I was naïve to the danger and felt drawn to it magnetically…it wasn’t always obvious to me, but I now view all of this as a love story. To my wife, you have been so patient with me. It has not been easy, to put it mildly, and I am forever grateful that you have sacrificed so much and pushed forward with me. And now, my dear, we get to enjoy it together for as long as this world will let us.

He also expressed gratitude for his friends and family.

'To my family and friends, I’m sorry for the times I have ignored you while I let my attention be drawn away. I can’t wait to have more time to share with you together. Lastly, I want to express how grateful I am to our readers," Anderson said.