Adani: A $130 Billion Scandal
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- čas přidán 5. 03. 2023
- In this episode, we take a look at the Adani vs Hindenburg scandal. What happened, and how could a company lose $130 billion in a matter of days over a few tweets? Was what Hindenburg did legal? In this episode we'll cover all of this.
PS: I was sick through half of this recording, so ignore the voice change, I'm only human.
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Producer: Dagogo Altraide
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Hindenburg Research really has become the corporate world’s grim reaper.
They are short sellers and have not been correct always
@@Tsug2803 you are right, I am not saying they are saints!
They are there for the money so dont trust blindly
Where are the offices of hindenburg.
@@JanneWolterbeek not really the stocks are rising again. Any decent analyst would have know after going through the report that many things were without any evidence.
Most of his companies have strong cash flows and makes profits. Also they have large growth ceiling. The stocks were overvalued though IMO so some corrections needed to happen. But fraud? I doubt it.
In case you don't know, the biggest red flag is the auditor of Adani. A tiny office with 23 old financial accountant approving audit of a billion dollars firm.
Do you know how many employees are in Hidenberg ?
Shhhhh, don't let ChatGPT hear you
@@RahulThakur-nm8bj 5 ppl lol.😂😂😂
@@RahulThakur-nm8bj Hindenburg isn't a multiple billion dollar conglomerate. Adani is.
It doesn’t matter how many employees accounting firm have!!
When a company grows faster than what looks natural, there's usually something shady behind it.
That is not a rule!
There is always shady things in every corporate, govt and regardless of countries. What do you think about healthcare/insurance scam of United States?
you just need to cover things up properly when shit hits the fan. So what is natural LMAO
Talk to the kid who always seemed dumb until 10th standard and blew up to the news for his intelligence in 11th and 12th standards. It's not black and white. If there's something then there's something otherwise there isn't.
They grow faster casue they're good at business
@@manipurextremz That's a fact 🤷
Many of us did not trust the Adani Group even 12 years ago. Too many times they have faced fines for ignoring regulations, especially on environmental issues.
This company has certainly always existed on the edges of legal boundaries and I am confident that at some point, even the Indian Government will back away.
The majority party in the indian parliament is the "BJP" and "BJP' and the adani have very good connections also one of the partys biggeset donar. Since there are elections for parliamnet like us 2024 elections "BJP" will support adani to fund their campaign .
the media in our cuntry is called "godi media" 'godi=lap' and they have done everything to protect adani , glorifying the pm and demonizing "George Soros" so in the near future this thing is not likly to occur
They will, once it's not too big to fail
12 years ago there was not currect goverment how they manage to escape? this is tradition to connect every B to G. Elon cant but B if USA dont support him thats the fact so Biden is the Puppet of Elon ?
Indian gov ruling party is financed by adani , prime minister is a old friend of adani 🤣
They are same wickedness, so they can't abandon Adani without exposing themselves as well...
I get the idea that producing such a report could be seen as potentially unethical on Hindenburg’s part, but Adani Enterprises’ illegal activities are so egregious that anyone not calling them out would have an even bigger ethical issue on their hands IMO. I don’t care if Hindenburg made some money off of telling the truth and exposing this family of con artists.
Isn't this the best combination overall ? Fucking up some scumbags and making money in the process ? Sounds like the perfect thing to do.😂
Yeah thought the same thing. Would you let a criminal company continue operating for the greater good? No. This is what a healthy capitalistic society need to do. Adani wasn't the correct person to run all those companies. Now let someone else run them.
Well, they Hinderburg group sure is making a ton of money while exposing fraud. Punishing and shaming publicly while getting paid, that is sonething I can understand and would forgive. Those guys are stealing the whole country
Nothing is more evil than ESG
@@ThirdLife86 Not really since the one who are really hit by the kind of news are general public who invest on hype and pull out on hype. Those scumbags typically have the balls to stay invested for longer and even buy the poor retail investors share for a potential recovery which often occurs if a company is so big that sometimes the state has to come make it re float.
Adani enterprises is the only non govt company who has govt employees working with them. 😭😂
🤣😂
What about Reliance all the senior board members of Indian government Petro refineries are immediately hired by them on their retirement
@@amritsinghminhas8355 bru 💀 you didn't get that one
Lpc hindu
True 😂😂
If India really wanted to prosper and grow, it'll first need to get rid of this kind of corruption.
As an Indian. Absolutely correct.
Adani and Ambani are the reason modi is still in Government. They are the ones who funded modi election campaign in 2014.
absolutely correct, adani is also buying out modis media detractors@@paragpatel8381
As an Indian I can confirm that won't happen
Haha 😆👍🏾
Whenever I see news of something big happening around the world.. I kinda expect a coldfusion video immediately.😅
Yeah, this guy is good at regurgitating already available information with his sexy voice.
Agree, but in reverse, I get info from global news from here first, then go follow up online.
As for @Lorenzo MIzushal where is this information already available in one location, words as well as video? -- I'd call this summarizing and curating, not regurgitating: that's what gets your video a copyright strike.
@@lorenzomizushal3980 sometimes you rather watch summarised info in video format than scrolls of text
@@lorenzomizushal3980 You make him sound like a ripoff. Summarizing and presenting disparate information is a valued skill in itself you know. Companies literally pay their management staff to do just that. Plenty of other channels do the same. Most non-YT media also does this, with only a bit of original investigative journalism on top (even new orgs that do the investigation stories mostly subsist off of run-of-the-mill newscasting, with the investigative journalism working as a very occasional BIG BREAK just to help build their brand rather than all they do).
I also expect a coldfusion video immediately but i know he will make a videos few days later with solid research
Assuming I'm understanding things correctly, and that things are all above-board, Hindenburg seems to have a wild MO: Investigate fraudulent companies, tell the world, and short them on their way down?
gotta respect the grind
Yes, they are pretty open about it. They take a short position on shady companies, expose them, and make a profit.
It's basically 'white hat hacking' of finance. I love it, I'd rather see scambusters get paid than the scammers.
Nothing wrong with that if the allegations are correctly, that's why It need to hold in court. That's how you keep a market healthy, it's a self regulating capitalism.
Conflict of interest at the very best
I am an Indian . I am here only becasue . I know none of the Indian media will talk about Indian issues ..
Update your video. Adani not only survived but again became the richest Indian person.
Exactly😂
I mean.. eventually, if the fundamentals aren’t strong, it’ll unravel. From the description, it sounds like Enron. Somehow, you’ve let yourself get brainwashed by his propaganda lol. There’s no reason for Hindenburg to come after “India’s economy” that’s just ridiculous.
yeah its simply pathetic how he exploits Indian population and state is allowing this ridiculous criminal activity
It won't survive with the PE ratio. People think Nvidia at 60 PE ratio is outrageously overpriced. This at 800x PE ratio? That's extremely unsustainable. All comes to an equilibrium in markets.
Thanks for pointing out both sides of the story, something that most other media and bloggers have failed to do.
Absolutely!
*_“Behind every great fortune there is a crime.”_* ― *Honoré de Balzac,* French novelist and playwright, and one of the founder of the realism in European literature.
every great fortune? I'll wait for Hinderburg's report on Elon Musk and his list of companies then 🙂
@@lbcck2527 Yes, that is correct.
he sounds like a loser
if there is a billionare from a third world country, there's a corruption involved
That is pretty biased opinion.
When Adani was slated to open the Carmichael mine in Queensland (Australia) a lot of us were calling out for state and federal governments to do their due diligence. Even back then there were a ton of rumours of how shady the company was, and how money seemed to come from nowhere but promises. Neither government knocked it back so instead they got 500 more coal ships approved through the Great Barrier Reef a year and an allowance of 60m tonnes of coal from the mine to Abbot Point wharf. Gina Rinehart sold over $1bn worth of land to them as well which I'm sure was a major reason it didn't get shitcanned.
Fortunately it all seems to have been mothballed for the moment so hopefully a new government with a spine comes in and scraps the proposal all together.
I lost thousands after Hindenburg went after a company I was invested in and I really hated them for a while but now I kinda appreciate what they do. He's no hero as he is only doing it for the money but that experience made me a more diligent investor so I owe him one really.
If they weren’t found out you would have invested your life in that company and one day lost it all.
should have sold stakes
its hitting upper circuit literally everyday
They government has no firm plans to combat inflation. Stocks, Houses and commodities will rise along with everything else as they will continue to inflate. You can't just sit on your cash and wait for a crash; you have to put your money to work, start investing gently, and then pick up the pace as the prices fall further. Making the decision to take money out of my account in excess of $500K at this time is more difficult. I am aware of certain investors that continue to make that much despite the terrible downturn market. I wish I could pull that off.
Market is down still, I've been looking up strategies and apparently both bull and bear market condition provides equal avenue to accrue massive gains, I mean I've heard of people making up to $300k during this crash and I'd like to know how.
@@tampabayrodeo2474 Who is this person? Is she worth recommending?
@@tampabayrodeo2474 The Lady Maria really seems to know her stuff. I found her website after looking her up, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her.
You’re right! The current market might give opportunities to maximize profit, but in order to execute such effective transactions, you must be a skilled practitioner or hire one.
This seems like one of those scam bot comment sections.
8:50 Naming your company after one of the most famous cases of crashing and burning is a bold move.
Hindenburg is first and foremost a German family name after which the airship you mentioned was named.
I thought of the name as a verb. As in "We Hindenburghed that company."
"Why “Hindenburg”?
We view the Hindenburg as the epitome of a totally man-made, totally avoidable disaster. Almost 100 people were loaded onto a balloon filled with the most flammable element in the universe. This was despite dozens of earlier hydrogen-based aircraft meeting with similar fates. Nonetheless, the operators of the Hindenburg forged ahead, adopting the oft-cited Wall Street maxim of “this time is different”.
We look for similar man-made disasters floating around in the market and aim to shed light on them before they lure in more unsuspecting victims."
Most of the world's helium comes from the US and due to the impending war Germany couldn't get the required amount of helium for the blimps so they used hydrogen instead (knowing full well how dangerous it was as there were many previous hydrogen blimp disasters)
It's an awesome name for a short selling firm.
Kind of like "Titanic Capital".
@@NotKimiRaikkonen goole account?
Dagogo's video style will always be in fashion. It's so different and feels relaxing and trance-like, even when he's talking about serious topics. Cold Fusion is my favourite information channel by a long shot.
Same!
I hadn't thought of it that way but think you're right. Been a fan from the beginning. Always love his vids.
His voice is soothing and he doesn't need to shout like most youtubers to hype up his videos. Just the raw facts.
Video fashion? Do you mean one without laud background music, no banging, crushing sounds, no flashing images or text, no visual special effects?
So, that's fashion for honest, straightforward, decent, normal program.
Many other producers use every effect in existence, to make up for badly researched material.
Congratulations on showing guts to do an honest report. Indian media is owned by 2 corporate houses, one of them being Adani. No one dares to show anything in this country due to fear of losing sponsors. It's very simple, a guy who was a minor industrialist, turned a multi-billionaire in a span of 8 years of Modi govt. Appreciate your efforts in research and detailed analysis ❤️❤️❤️
That is due to their business policies and strategic business investments.
@@soumodip_majumdar following the truth ain't making anyone traitor. By that logic, Subhash Chandra Bose was also a traitor to speak against the then govt of British India 😂😂😂
@@swapnil_dl qui bono... who gains from this ?... How sure are you that the report is "truth"?... Stop being so naive and show some gratitude to your motherland....
@@soumodip_majumdar
Right.
Adani is my motherland.
@@thesmilingtitan Such a sharp mind...
Wish you would use it for our country...
Search for Gangadhar Adhikari thesis, war by other means, full spectrum dominance.... you will grasp what is going on and how breaking India forces are targeting Bharat and adani is just pawn on the great game...
The reality is 11 months later his stocks are rallying again and seem to be getting back to level before the report.
It reached new high.
It won't survive with the PE ratio. People think Nvidia at 60 PE ratio is outrageously overpriced. This at 800x PE ratio? That's extremely unsustainable. All comes to an equilibrium in markets.
@@user-bv5tu1qy8h It won't survive with the PE ratio. People think Nvidia at 60 PE ratio is outrageously overpriced. This at 800x PE ratio? That's extremely unsustainable. All comes to an equilibrium in markets.
@@DL-fl5ul Nvidia is making AI chip at a lucrative margin, whatever adani is doing is nowhere close to profitable as Nvidia.
What people are not aware of is that Adani sold 25% of Adani family controlled AEML stock to the Qatari government controlled Qatari Holding and in doing so, Qatar now literally controls 25% of Mumbai electricity supply ! The risks arise from the fierce collateral terms attached to the $1-billion Senior Secured Notes that Adani Electricity Mumbai Ltd (AEML) floated in February 2020 - just 18 months after the Adani group gained control of beleaguered tycoon Anil Ambani’s Reliance Infrastructure Ltd.
Well this is nothing compared to how much Indian tribal land and other resources have been privatized and sold off to such corrupt scammer by the Indian government itself.
Few years to go before we are India Inc Ltd and not India
What !?
People don't know means ?
People don't know many things, so .. ?
What you are saying is a 2019 news .
Also to what I see AEML is subsidiary of ATL (Adani Transmission Limited), and according to Economic times
ATL is 74.92% owned by Adanis and 25.08% by public shareholders. After the transaction closes, ATL will own 74.9% in AEML.
And what you are saying isn't a new thing, companies do it all time but hold majority of shares with themselves, here too AEML still has 75%, which far far above that threshold majority shares
And that small stack can be bought easily if they wish too
You are just trying to point out something that is irrelevant to confuse the people and slippery slope them in one mindset
Are you someone with political affiliations ?
Wait till you find out about Nayara, Norwegian Sovereign fund, Gov of Singapore fund etc. One should be living under the rock to get surprised by FII.
Wait a sec, are you mad? Do you know what you written?
@@kevinsalmador739 nice copy and paste comment kev
Hindenburg Adani episode may, in fact be good for the economy as it will force others to be mere transparent and forthcoming in their dealings.
Not as long as the country has a corrupt PM with a cult like following of misguided Indians.
The country has a colonial past and the people have a lot of anger and resentment. The PM has created this nationalist illusion saying the country is growing under him. But in reality there is massive unemployment and increasing wealth gap. The growth in the economy is the growth of few crony capitalists like mr. Adani
Not really when you have Blackrock meddling with every corporation in the world.
Yeah, that's not how it works. We have one of these "big scams" every five years or so.
Nothing will happen as long as Modi is in power. He will do everything to protect adani.
@@nitin1947 , he lost his slush fund investment and almost 60-75% wiped off... Swoosh gone !! That in itself is enough 😂😂 , the additional sleepless nights both modanis must be going through is cherry on the cake 🍰
The team running this channel make the best videos hands down on investigating these topics. Every episode is consistently good!
I doubt its even a team. I think it's just Dagogo. I may be wrong. I've been a fan of this guy for years. Never fails to produce thoroughly detailed and eye opening videos!
😂 It's not even a fraud. Hiddenberg itself is doing lobby work. They were banned from NYK stock exchange too. Even they had 3 FBI criminal investigations against them. Short tellers tried same schemes against others too. Stock getting inflated & doing scams are different stuffs. Indian political coolies use him as punching bag.
@@imranvp He's wrong in this case
@@asingha94 and you know? What's your source?
How the heck stocks has recovered 80% since then..
I want to know why aswell...
It won't survive with the PE ratio. People think Nvidia at 60 PE ratio is outrageously overpriced. This at 800x PE ratio? That's extremely unsustainable. All comes to an equilibrium in markets.
@@DL-fl5ul lol it has govt backing... Numbers are a myth, if future prospects are there any company can survive.. US stocks are 190 % of GDP still growing why ? Because of the future of tech companies in US
Looked at it in 2008. Did not like what I saw in Adandi Ports and Adani Energy, esp. their valuations. Took quite some flak from our coverage team in India for pushing back. I subsequently lost touch until I read about GA being one of the world's richest. Could I have been this wrong back in 2008? A glance at the valuations of the group's listed companies suggested otherwise... and Hindenburg's recent report further attests to that.
Hindenburg’s business model is making profits while bringing down fraud. It’s a win-win situation here. 😂
It's actually not, because they are taking the money from people (investors) not directly involved with the misbehavior of the targeted company. It's just another twist in the messed up system that is capitalism.
@@diegovideco By that logic successful SEC prosecutions actually aren't win win because the regulators are earning their reputation and promotions by punish law abiding citizens which weren't directly involved with the companies misbehavior, which is just another twist on the messed up system which is government regulation. Scams become more volatile and much larger the longer they're allowed to fester, and they always have investors as meat shields. Busting them sooner is better.
Part of what you're missing is that risk is what you're profiting off of in any market. You're not being paid for participation, but for the risk you're taking on, including the risk of new information being uncovered once your invested. This innocent investor lie is annoying because it assumes that the market isn't functioning correctly when people, who were wrong about a prospect, lose money on that prospect.
Anyone invested in the market should be well aware that most companies are engaged in illegal, fraudulent, and unethical activity and has no excuse not to be. The proof is saturated at this point. Not doing basic due diligence isn't an excuse, it's too easy to do, and the ramifications of not doing it are too extreme. No, investors are really willing to look the other way to make a buck. That doesn't sound like a victim, it sounds like a cohort. Abstracting it by saying "but many of them were invested through advisors" doesn't help one iota, it's your money, your power, you have the authority to control the harm it does. No amount of blaming the system makes you innocent of your contribution.
Every investor is wholly culpable for their the crimes they could assume from context and know from prior readily available news. Capitalism is healthy when we own our actions, and personally accountability is what's lacking right now, and it's a problem in any system of economics and any system of governance.
@@diegovideco 😂 Because it's not a fraud. Hiddenberg itself is doing lobby work. They were banned from NYK stock exchange too. Even they had 3 FBI criminal investigations against them. Short tellers tried same schemes against others too. Stock getting inflated & doing scams are different stuffs. Indian political coolies use him as punching bag.
@@ergerg2 Actually I would have rather meant "people in general", not just investors.
These scams affect people across the whole of society. And uncovering/punishing them often amounts to a transfer of wealth between the already rich.
Maybe a system that functions based prioritizing the profit motive can be healthy, yet larger and larger scams are increasingly common, and the profit motive is exactly what motivating them.
That capitalism can be healthy and just, or even only stable for more than just a couple of years (and across the world) is yet to be proven. Meanwhile most human beings, other species and the planet as a whole continue being exploited on behalf of this system.
@@diegovideco "Actually I would have rather meant "people in general", not just investors."
I agree the fallout is horrible for completely innocent people, but I'd say a scam is a scam is a scam and for the most part when they burst the only ones who have anything to feel bad about are the investors and participants who had any other livable choice then to participate. Calling bubble bursting a bad thing implies that either it wasn't doomed to collapse, wasn't doing more harm by continuing to exist, and wasn't spreading. Adani was all of those things.
"These scams affect people across the whole of society. And uncovering/punishing them often amounts to a transfer of wealth between the already rich."
Being rich isn't a criminal act, and can be done morally. The goal of punishment in financial crimes isn't to redistribute wealth, it's to take money away from the unjustly wealthy. When you say a transfer of wealth within that bracket is meaningless, that's predicated on everyone with wealth being guilty of something which just isn't true.
"Maybe a system that functions based prioritizing the profit motive can be healthy, yet larger and larger scams are increasingly common, and the profit motive is exactly what motivating them."
I'd say most systems humans can agree on are based off of motives they can agree on, and the only near guarantee is that people want more. Capitalism is more of a system where people can do things, not one that forces them to or tells them to. I'd say right now the problem isn't capitalism itself it's more specific then that because total capitalism is one end of the spectrum and no countries ever really followed that in the slightest (nor should they). To me greed's a side effect of aimlessness, and it's that that we're living through right now. People with power and no direction, their encouraged towards unfulfilling things through a market game that winds up being the most fulfilling and meaningful thing in their lives. It's not really surprising that if other meaningful pursuits fail to compete with whats advertised along the way, then at the end the only thing that feels real to them is the game itself. There's a reason why it's such a prevalent theme in rap.
"That capitalism can be healthy and just, or even only stable for more than just a couple of years (and across the world) is yet to be proven. Meanwhile most human beings, other species and the planet as a whole continue being exploited on behalf of this system."
The problem with that statement is that you can say that about almost anything, because it's not based on any real world realistic comparative benchmark. Take government as a concept for example. Name one form of governance that's managed more then a million people that what you said above doesn't apply to. Everything the US has done has happened under democracy, from slavery to the bay of pigs to Iraq and communism has killed far more people the the National Socialists.
If we compare the current state of affairs to nothing specific, then we can point to any incident and say "see it's not working". So far I'd say leaning towards the capitalism end of the market spectrum is the best thing we've tried, when we compare it to every other set of economic principles that have been tried and can manage the needs of current populations.
Cold fusion has an amazing talent of taking a subject I've never heard of and through research and stellar presentation I am completely engrossed from start to finish
Amazing work. All your works are great - but this is one of the best!! Thanks so much!!
Everyone in India knew from the last couple of years knew that adani is overvalued. Their stock prices were way higher than industry standard and that was common knowledge. But it is also true that they have huge assets and have stated multiple times that they have assets to cover up entire debt taken(entire group combined not as separate entities). What seems most illegal is the fact that they allegedly own more than 75% with the help of shell companies which violates Indian regulations and stock manipulation. I was personally expecting the drop for a long time, not on this scale but a drop nonetheless. Lets see what happens next but it is unlikely that anything meaningful will come out of government investigation with a certain bias being there which no one can deny. Although other than that crony capitalism is a far stretch considering the fact that he has won all projects through the legal process and has won bids through lowest/best cost tenders which are available in public domain to investigate. I am almost sure that stock manipulation fraud has been committed and banks that lent money with stock leveraging are the most affected, the fundamentals are very good and Adani is actually extremely profitable. It was just very overvalued and drop has in my opinion corrected the actual valuation for the group
As it is very less stock was actually held by retail investors so very few common people have actually lost money. Indian government entities that invested in Adani like LIC still has made a profit of 1bn in spite of the drop so public money is not affected for the most part
Also Adani Enterprises stock has again recovered by about 100% and other companies are also recovering.
Fraud ki laaj bachani pad rahi hai, kya haal kar diya tum logo ka yaar. दुखद
Yeah, but journalists believe they exposed them and win!))
@@ankitchaturvedi5658 bhai facts ke saath counter de na, bas tere bol dene se kya ho rha? Upar se maine likha bhi hai stock manipulation kiya hoga but main business accha hai.
SEBI(Securities and Exchange Board of India) instead of stopping the thousands of crores of the Adani scandal they are putting their feet in some bollywood drama by arshad warsi.
They can’t do sh!t to BJP’s sugar daddy man 😑
And yet they’ll still argue about how awesome their country is. Meanwhile, they have entire city blocks dedicated to companies that steal
@@DeepThakur.. found the cow belt bootlicker
@@DeepThakur.. kiu Tera baap hai adani jo tu jada janta hai gandu andhbhakt
lol thay are just puppet of modi government, if it were in US adani would have been fighting for prison time by now
Another banger. I was surprised it took over half of your video to mention the UK, I wouldn't think it'd take too much digging to find a lot of our politicians with this stink on their hands. This is exactly what Brexit is for, to relax the rules enough to allow these type of crooks to trade.
Brexit for adani?? Adani isn't the reason for brexit. The reason is our so called independence from EU. Because brits want to be isolated n independent. Trade independent or whatever. It's also the racism which made people vote yess in many regions. Racism which possibly you also like. Other Reasons are just speculative.
@@randomlyswatching9481 Why would I like racism? You'll find only love here my friend. Yes the British people voted for the reasons you said but the people who created Brexit and want it to happen want to do deals with groups like Adani so make money for themselves.
Thank you so much Sir for your comprehensive analysis. I am always following your video posts.
More power.
I know you would probably not read this but anyways I love the deep research you do for us and it's point accurate was just watching your Enron scam video which aptly to the point and thanks a lot for educating me about these scandals
He did read this haha
Yeah, probably.
But just so that it does not feel so..
.. so I took his password and liked/ hearted your comment from his account.😁
.
So you see!
Now you can say with surety.. that Mister Altraide did read your comment.
Seems You missed the bus at 1100
He is the goat
Same!
This is hands down the best and most objective coverage of the entire saga. Even some of the popular Indian youtubers couldn't help but be opionative if not biased on this story.
You need to watch the video by Think School. He has done a far better research on this matter than Cold Fusion. This video was pretty lazy and one sided.
yeah that think school video basically shows:
1. leverage confused for genius
2. shady government contracts
3. pretty much run of the mill book cooking.
so yeah, much more level handed than cold fusion if you want to believe there's no fraud here.
ThinkSchool's video was great too.
Multiple channels and multiple entities have covered the story. Below are a few things that are widely accepted even before the Hindenburg report:
1.) Adani stocks were overvalued.
2.) Debt ratio was high.
3.) A large quantity/majority of Adani's collective holdings are held either by Adani themselves or allied entities.
When Hindenburg report dropped, some of the early ones, went as far as to say there might not be a steep drop as most shares are held by entities that will decide to hold.
Reason I specified no Indian channel covered this story objectively, including thinkschool: while most mentioned Hindenburg report alleges fraud, book cooking, govt involvement etc. Pretty much no one specified the entities that hold the majority stake(shell corps mentioned in cold fusion) trading adani stocks between themselves to drive up prices.
@@ramnathnayak9211 Think school is very govt. biased and exaggerates in their favor even smallest of things.
It's hard to stay apolitical with a topic like this but you did a remarkable job. This is one of your best, and I've been around for a long time here. Much love, Dagogo!
A few random thoughts
-Hindenberg calling Adani "the greatest corporate fraud in history" should, itself, raise flags. That is tabloid hyperbole, coming from someone with a financial interest in trashing Adani shares.
-It is unfair to say Adani subsidiaries "are on the verge of breaking Indian law" because management *almost* owns 75% of the shares. 75% is, apparently, the threshold and is perfectly legitimate to hold 74.99%, given that. You see exactly the same thing in all jurisdictions, including Australia. After all, the whole point of having a threshold is that you can own a % of shares up to it, right?
-"paper wealth payout" is meaningless; it involves no payout.
-Stock market manipulation by pushing the company share price higher is *not* "accounting fraud". The share price is not part of the accounts. That does not make it a good, legit, or legal thing to do, but it is not accounting fraud. It would be better to stick to the facts.
-14:23. That table does not show that '5 out of 7 companies don't have enough assets to cover their debt'. It is a measure of short term liquidity, which is different. Even the Hindenburg report incorrectly states it: it is liquid assets divided by near term liabilities, NOT "less".
-No money has been "lost" except by those who sold shares at a loss. A falling share price, while it may indicate something tangibly bad, is otherwise meaningless. It is not part of the business operations, and has no bearing on them, except as it affects confidence among investors. Or short sellers who might be doing a reverse pump and dump.
Hindenburg seems to have a solid record of uncovering corporate fraud, so should not be dismissed lightly. But when you look through its history, it has dealt with companies where the *operations* were a fraud. eg Nikola trucks where the fraud was actually about a product that isn't. In Adani's case, it operates a vast array of businesses, which produce cash flows. As far as I can see, not one of H's allegations relate to the business operations of any company in the group. Nor does H appear to have actually alleged any stock market manipulation. Moreover, this presentation highlights a completely understandable and benign reason for such high stock valuations: ESG investment requirements which have more or less forced billions of $ into a restricted pool of investments. Ok, so now the share prices of Adani companies are lower, the companies still operate, their price to earnings have become more realistic.
So where is the 'biggest fraud in corporate history' in all this? At worst, it seems there are disguised shareholdings which breach Indian securities laws, and which lead to excessively high share prices. Have the Adani's sold any shares at these excessively high prices? Well, no, actually. Meantime, it is now 2 months since the allegations surfaced, and nothing further of substance has come to light. SEBI is looking into it. 8 weeks isn't long for such an endeavor and Bad Stuff may come to light, but it is coming across to me that Hindenburg has deliberately done its own 'overstating' to benefit its own bottom line. That is not to sound negative about short sellers per se; they do great work in uncovering fraud simply because they have no interest in ignoring it. Which is good for the market at large.
As an Indian, I can confirm this the most neutral & unbiased reporting. Love ColdFusions every video ❤
As an Indian, I can confirm this that we do not need to be Indian to know this fact about the various reporting done by Mistef Altraide and the Coldfusion team.
Sorry to say but it's not. Think School has a far better and neutral video on this matter.
@@ramnathnayak9211 I can smell the bhakt in you
@@vanarqwq3660 Haha. They're getting more subtle these days not as provocative as they were a few years ago.
@@vanarqwq3660 better than being a andhnamazi 🤣
good to see you back Cold Fusion, keep making these vids and I'll keep watching them
there are probably more crooks in business stories then minutes left in my life, but i can try to fill one with the other
Adani is not my problem right now. I keep loosing in real trade but win in Demo.
Should I give up on Trade?
What should I do?
How may I do better?
What I'm I doing incorrectly?
here is my problem I have been making losses trying to make trade. I thought to trade demo is just like the real..can anyone help me out or at least tell me on what to do.
I always advice new members to have an orientation on how it works before getting involved. Trade offers more benefits than just holding.
Kate Floretta
Face book
having a mentor is also very important when it comes to Trade, with out that, it can be very frustrating.
you must have these things in mind
1. Have a long term mindset.
2. Be willing to take *risk*.
3. Be careful, if you're not spending to earn back, then stop spending.
4. Never claim to know - Ask questions and it's best you work with an assistant.
I live in Mauritius. Let me tell you the amount of scam/fraud offshore companies here is insane. The tech city ebene full of them, people are educated but don;t know much about these types of companies, so they end up in jobs there.
Well, clearly - having not heard of Adani* before - the ColdFusion channel is definitely a source of news for me. Thanks for keeping me informed - even if it comes at a price of knowing how messed up the world is; greed & stupidity everywhere.
* nor FTX, nor many other previously unheard of names/companies mentioned on the channel.
Even people of India never heard of adani until he was all over the news
@@KiranKumar-uv6kd u guys must be living in caves
@@ernavendu Most people in India do. I know him only because I live in Mumbai and a lot of people there know adani brand because of the power bill they get
@@ernavendu just because we know adani doesn't mean the entire country does. He's not that famous.
@@ernavendu India is a massive country with 1.4 billion people. Are you sure every single person in the country knows about Adani ?
"There's one name that's unknown to many" - unless you live in Australia or India.
Great video as always, fair, objective, engaging 👍
This is NOT A fair video. It is paid hit job on a financially strong group….
A company with 27 billion dollar debt wons 75% of their own stock by themselves is a stong company? Indeed very stong to survive in front of a regulator like SEBI
@@skwazeedali8448 If you want to have an informed debate, we can do it. Hindenburg doesn’t understand the groups businesses and wants to profit off the dip in its valuation, that’s fine. But there is NO scandal. Adani is a big Utilities player, debt will always be high in the initial stages of the utility business like Green Hydrogen, Oil and gas etc. these businesses have a long tail and returns come after substantial capex investment which is usually borrowed leading to high debt.
Amazing analysis cold fusion, respect to the research, my favourite CZcams channel!
I guess you have to think about changing the video caption now. (no hate for the channel)
I think it is fair to say that Coldfusion can be considered the industry standard of swift yet thorough news reporting nowadays. Been a subscriber for a while now and Coldfusion just doesn't disappoint. Honestly, where else to go for such qualitative video format research nowadays? Keep up the great work!
Sabine 🤔👀
This isn't swift... It was all over the news in February it's late if anything
He isn't swift, and that's a good thing. He lets the story simmer and accumulate for a while before putting it all together. Let the nighttime news shows compete in the BREAKING NEWS!!! rat race. Unless I'm a stock trader, I don't need to know this immediately.
Not this time though. Watch the video on the same matter by Think School and you'll know the vast difference in the research done. Cold Fusion has been biased and lazy in their research on this topic. It's like he put some news articles together and made a video on it... that too after the news had turned stale.
@@ArawnOfAnnwnalright, I’ll drop the ‘swift’ then 😉
Thanks for the great content, the deep dives here are wicked! Big ups from Melb.
Just FYI, Adani group prepaid $2.15B loan before their due date last week.
Where did they get the money from?
The great Hidenberg forgot the Silicon Valley Bank but dug to Ends of Earth for Adani... Grow UP!!
I think you forgot to include the part where Adani used government connection to strike a deal with the Bangladesh government for supplying electricity where Bangladesh had to pay three times the market price for each unit. Nevertheless, it's an extensive coverage of the Adani group and I applaud you for deep research behind every episode you create. Cheers mate
Wait till you learn about how the western military complex lobbies the entire Congress in USA. The western regimes have always supported their companies and have influenced other countries to strike deals. Your info on Bangladesh had to pay 3 times higher is clearly false and baseless.
@@sandeepsrinivas7 my info on Bangladesh is accurate and fact checked. Even Rahul Gandhi talked about it and stated the three times market price info in the Indian parliament. Source: the Wire, the Daily Star.
@@slapadanko source is Rahul Gandhi and wire 😂🤡
Re Bangladesh: I read it in a Guardian article.
@@slapadanko bro you haven’t read the deal. That deal is genius. Stop listening to politicians. they’re are not paying the 3x price. They are paying the market price based on the price of coal which is industry standard. Company is only profitable cause government made that plant sez which reduced the tax drastically.
Absolutely love the content you painstakingly create Dagogo! Keep up the great work!
Video is filled with these words: 'Allegedly', 'Claims' & 'Accused'. Also lots of false information as well for example: Modi wasn't a minister in 90s as claimed in the video. He even got the basics wrong.
Yeah Sandeep.. you are right, Adani Exports is right, Ketan Parekh is right, Inter National Democratic Alliance is right, Blow Job Party is right, Mansi Soni's s3×ual perp Napunsak Dagabaaz Manushya is right.. and everyone else.. is wrong!
@infarno keep blindly support to your blind family not others
@@sandeepsrinivas7 okay mr adan godi fam
@@daviddiveroli9331 name calling when you have no counter arguments.
Hindenburg didn't predict on Silicon Valley Bank....Signature Bank.....😁😁
Lemme guess. You're Indian too? 😂
NO. because it's against there interest
@@troll2637 I am indian too?
what's your point?
@@troll2637 if you are yankee, then wake me up if the debt ceiling is raised 😆
@@EX_MUSLIM_FREETHINKERS Indians are blindly nationalistic. Indians in this comment sections are seething. Read the other comments from the Indians. Nationalism is rampant amongst Indians, can't watch a land rover video without Indians going in the comment section "so proud of India 🇮🇳 😍".
Quite a well balanced summary video, not opinionated, very rare in current scenario but really good job presenting the facts!!
I watched that report on the ABC, and was saying to my wife "this is the kind of stuff Coldfusion does videos on, can't wait"
Wow, this is an eye-opening video that really sheds light on the Adani vs Hindenburg scandal. It's shocking to see how easily a company can lose billions in value over just a few tweets, and the legal implications of what Hindenburg did are fascinating. Thank you for providing such an informative and engaging episode, and don't worry about the voice change - it just goes to show that you're human and dedicated to delivering quality content even when you're not feeling 100%.
Attack on India by George Soros
Britain hates seeing an Indian at 3rd richest
You haven’t even watched it yet.
You must be a time traveler since you commented 4 minutes after the video was uploaded on a 24+ minute video
A HUMBLE beginning as a middle class diamond trader?????
Adani bought some local coal mines in Australia, these mines were listed for closer as their production quality and output wasn't feasible anymore..
somehow Adani pumped enough money into them and made them profitable again (to the surprise of geo techs and exploration experts).
an ex-Prime Minister (Tony Abbot) even has shares in a port contract that is owned by Adani for 99years (lease agreement).
now it all makes sense.
Apparently Hindenburg research was in the "toilet"(chernobyl) during svb collapse that's y they didn't see it coming but were in the room during Adani
The disgusting thing is that Adani's stock price has basically recovered. Within the time of the production of this video, the market has essentially stated "Fraud, meh, carry on now..."
Maybe its not a fraud. They are just overvalued nothing else. Lots of short seller gonna loose billions.
So it's not a fraud?.
How is over valued stock a fraud . Heck is it even over valued when it recovers total value even after such an attack.
Their stock recovered after florida investor purchased 3% of the company. Their portfolio is solid. So i don’t think anything will happen to them
It recovered because it is not a scam. This is just another political witch hunting
The work done by adani with the ports and the supply chain is still outstanding to say the least. He could have done over evaluation etc, money laundering maybe. But damn, his enterprise has done such great work! I have heard from numerous people who work in the shipping industry that have said so.. they said these ports are the best in the country and are equal or better than many international ports, and the wait time is so low. They are making good profits and are also saving a lot of money for Shipping companies.. so even if adani did some wrong, the good he has done is much much more. Many indian economists, even if they don't agree with adani, say that this report might actually be good for adani enterprises. They not just too big to fail, they doing pretty good too. Stock manipulation or not. The market would always adjust itself.
You also forgot to mention that very next day of this turmoil, Adani withdrew their massive fully subscribed FPO in interest of public trust.
He will bounce back.
Coz his stocks are being held now and no sellers. People know he'll bounce back.
Credit Suisse, which said Adani having bad loans and negative opinion on adani went to bankrupt and share price dropped to 99% low, UBS bought for 3 billion where the bank market cap was 6 billion and credit Suisse made several layoffs.
Whereas Adani group started expanding their businesses, investments, looking to increase employment, increasing their profits and revenue YOY.
130B was the amount lost by adani group but not the `scam` amount 🤔 I don't actually know how to quantify this scam but ig it's a thing worth noticing
I immediately knew he was fuckin sketchy, no one climbs that fuckin fast.
Exactly. You can't 20x your wealth from $7 billion to $140 billion running a commodities and ports business... especially when your company has a P/E ratio 3x that of Tesla.
Adani fashioned himself a pair of wings of feather and wax and tried to join Bernard Arnault, Musk, and Bezos up by the sun
So a modern day Icarus.
Hasn't Tesla lost billions in share value too recently? The idea that no one from global south can challenge billioniars from the west should be done and dusted...American and European corporations have been acting much more unethically over the last century, to the point of overturning regimes or starting wars to make profits in business...compared to them, Adani has done zilch
One point you missed is that prominent indian Mutual Fund managers were advising against investing in any of Adani stocks for many years and interestingly none of them has had exposure to Adani stocks even after its meteoric rise. Hindenburg didn't find anything new, they collected accusations on adani group and released just a few days before their secondary listing on the stock market (Correct me on this term) on which adani has to back off. I have seen some investment advisors advising against adani stocks for manipulating stocks using offshore entities in early 2022. So overall Hindenburg just took the opportunity to pull the rug to make the money by just summarizing Adani accusations. It's just a classic example of Opportunists taking advantage of a Fraud.
Btw, oligarchs and western billionaires always remain close to their Government and many other Indian billionaires remain close to the current government. It's common everywhere. Almost all strong indian entrepreneurs are Gujratis or marvaris. The accusation of Government involvement with Adani should taken with pinch of salt.
Adani pays ruling party by Electoral Bonds ( which are secret of the doner name).
Everything is all about the money, Hindenburg's main motivation for doing all of this is so that they can get against Adani stocks and make millions. so why should I care??
In theory, Internal Audits, regulatory organizations, and Indian stock trading platforms should have flagged the issues noted in Hindenberg’s published research.
In theory markets will regulate themselves.
In reality a bunch of con artists are using capital to steal and rob a bunch of dullards. While the state is paid to ignore that problem.
Well its all speculation at this point. No one has concrete proof of that. They have setup penel for that. Will see what happens next.
In India:)
In India:)
🤣🤣 In India, there is no truth in Journalism! All are bootlickers for Modi and his friends!
No gimmick only pure research.....hats off to u bro
Corruption is widespread and systemic - nobody can accumulate $billions over such a short time with honest, legal and ethical work
You do a great job on this doc. Amazing how you can bring out all this info without mentioning his brother.
I've been waiting for you to cover this, I knew something wasn't right about this guy. Makes you wonder what other companies' value are inflated.
Tesla. As long as Elon musk remains Washington's darling, it won't be corrected. But it can't last forever.
@@charlesk22
Their value has already fallen a lot, On top of that other companies have already caught up in the EV business so its already on borrowed time.
Great work as always, and I just want to say, Dagogo Altraide is a really cool name.
One good thing with increased interest rate is that we get a chance to crush all these BS companies with over leveraged positions
I always wonder how someone can be an expert in so many diverse fields. I suppose if you have the money, you can hire the best managers to run your companies, while sitting atop and reaping the profits.
I've been hearing from some ofmy mining friends that Adanis operation in Australia is awful. Lots of accidents and trouble with pay, management issues, mine shutdowns etc. Really bad. So doesn't suprise me they are as bad as you say.
That is what is bound to happen when a company from a developing country with pathetic working conditions brings their "standards" elsewhere.
@@rabbit-ku1bn I didn't want to be so blunt but yes I agree. Just because they come here with their pockets full of cash and splash it around does not mean they are good operators. How the Aussie government let such a corrupt and obviously dodgy business come in and buy up what they like is pretty alarming. Knowing that even a basic forensic look into their business would uncover all the stuff mentioned in this doco. It was public record and very well known....the Aussie government tend to look the other way when big $$$$ come onshore. Which is a real shame. Hard working men and women suffer because of little to no foresight or diligence.
@@UltraMagnis because regardless of how mighty and ethical you think are in your first world countries, your politicians are corrupt and can be bought.
These are always so good! You guys should do one on the corruption in the current SEC and Gary Gensler. That would be AMAZING!
Not needed now.
I really want a follow up video on this after 6 months to check how much it affected Adani or what Adani did change in his business practice.
The supreme court of India has cleared him and his stocks have skyrocketed once again
Cogent, interesting, informative, and engaging. I come to this channel expecting nothing less and always receive it. Great episode.
ColdFusion: The definitive up-to-date events analyser of analysers I trust for conclusion.
OMG !!!! I dont know how you do it but your videos are always so entertaining and educational!
hey great content love your channel personally taught me a lot. just wanted to ask how do you do your research and were do you get your information from when making a idea
Been rooting for new episode, thanks!
Coldfusion I’ve enjoyed EVERY VIDEO you’ve ever made. Thank you so much! You’re making fantastic content. Just wanted to show my appreciation. Keep up the great work!
I didn't had any trust over the government before and even after Hindenburg's reports but trusted that market will find it's course
*Note: My opinions only*
The funny thing is Hindenberg report was not the eye opener for many. The Adani political favouritism, their debt, public sector banks holding most of their equity, and also providing loans at such high valuations and all other allegations were known to almost everyone actively involved in the Indian stock markets several months before the report.
There were memes and reports circulating on social media about all the allegation.
The reason for the increase in share price was not because investors believed in the company's growth. The growth came because of intraday traders who would pushup the stock prices. Maybe the intraday traders had connections to the company.
The hindenberg report only served as the center of attention for people to debate about.
You have no idea how deep this corruption rabbit hole goes..
15:21 And this is why I vehemently disagree with Govts forcing people’s retirements plans (e.g. 401K) to be invested in ESG. People want max returns on their money, at least I do.
If these companies were doing something that would make buying their stock a good financial move then wouldn’t the retirement fund managing people’s retirement plans already be invested in it without being forced?
Now adani enterprises got clean chit from Indian court where is your reply for that.😂
That rebuttal is also a common technique used to circumvent strata/rental laws in Australia.
I always wondered when the Satyam scandal is exposed, that there could
be many such corporate frauds lurking in the country.
Insanely well researched, thorough and definitely not one sided. Loved this video
Amazing video ColdFusion as always. I have been your follower since the early android days :)
Well Hindenburg Research probably could not or failed to detect the financial inaccuracies and the disasterous fall of Silicon Valley Bank, whose ripple effects are felt across the tech industry.. it tells a lot about Hindenburg's capabilities and vested interests..
crazy part is their stock basically has 100% recovered since being shorted by hindenburg.
but trust might never recover though
@@Onion_Knights no denying that for sure, just shocked at like loosing 50% of its price since it was shorted, to now being down about 3%. it literally bounced right back.
@@Ali__C no one knows for sure about the stocks, since trust is way down. stocks can be manipulated remember? so, i am sceptical
@@Onion_Knights agreed, will see how it goes but it defo looks really bad
@@Ali__C indeed 👍🏻 lets see
Being born and raised in Poland in the nineties and two-thousands, unfortunately, all these stories sound way too familiar to me... Even today, political scandals around bribe burst daily.
How does one explain the drastic fall in share prices of the adani businesses including the conglomerate, if 75% of public shares are actually held internally?
Why is this not being explained by critics?
The Indian government supports privatisation of entities such as ports, airports, infrastructure etc in order to kill corruption that happens via Tenders wherein majority of Tenders is won by interanal members via under table money. Also Private entities like Adani, GVk provide better services, maintenance and facilities in airports. We have seen the conditions of airports and power infrastructure before it was a tender system and now it's way better.
Government entities such as MTNL, Dolphin, BSNL, Air India etc have failed majorly in the past and the government workers had to be paid or shifted in other departments as they cannot fire a huge number of people but to adjust them in some other government departments. Hence privatisation of such entities is better as the government won't be entitled to look after 100k+ employees just in case things don't work out and company dissolves.
As an Indian fan of yours, I did not expect you to do this video. I'm glad you did.
Well it was not that short to go under the radar. Whole of India is affected by this, I would be a little disappointed if coldfusion didnt make a video on this.
@@kanishkjaiswal5088whole of India?
I actually made money during short sell and still making money when it's going up.
So speak for yourself. You don't represent 1.4 billion people.
I'm more surprised that people continue to fall fool and victim to these scandals, than I am at people who continue to operate a profitable venture.
"If you can't stop the hustler, learn to not get hustled."
This has to do with Hindus and Hyper nationalism prevalent currently in India.
These guys are ready to support even genocides now 😑
....I'm pretty sure by now that every major company is a scam... Some play just more carefully to don't get caught
Desperation has no expiration date.
If you were from India, may be you wouldn't be all that surprised.
.
We had always had varying levels of opacity and corruption that ensures that the 'elites' are reasonably cushioned.
And yes.. we (including the supreme courts) literally let them (elites) get away with murder.
(Look up the premise of the movie "No One Killed Jessica" or the drunk driving murders said to have been committed by Indian actor Salman Khan or how a judge by the name of 'Brijgopal Harkishan Loya' mysteriously dies/ is murdered.. just weeks after having been assigned to a case involving a dirty politician who was an accused in a string of murders)
.
Democratic People's Republic of Korea/ North Korea gets a bad rep.. but in the past 9½-10 years (the years since 2014) when the ultra right wing, fascist elements have got prominence and encouragement in India.. we (India) make North Korea look like a heaven.
Here (in India) even dead bodies are not found.. they simply report them as 'missing.
Or if needed.. ask the police to make it look like an encounter (with the victims.. who are labelled fugitives).
You make this all sound simple. You do realize why companies go to such great lengths to hide and deceive, right? This isn't exactly the Nigerian prince e-mail scam here.
He redeemed all the lost investor confidence and got back into business with banger, thats adani!
Amazing channel and videos! Please do one on the Carillion Scandel
Video I was waiting for so long 🙌🙌