How Hindenburg Research gave a masterclass in financial globalisation

Even for those Indians who don't have shares in the Adani group, the concern now is the health of their portfolios

Without even betting a single dollar in the Indian market, a short seller from New York managed to torpedo the country’s most prestigious share sale, dimming the aura of unassailability around its sponsoring tycoon. That’s the power of borderless money — it can pull the ladder from under the world’s largest fortunes from 8,000 miles away. In winning the first round of its battle against Gautam Adani, Hindenburg Research has given us a masterclass in financial globalisation.  
 

Late Wednesday night in India, Adani Enterprises Ltd. informed stock exchanges that it had decided not to proceed with the $2.4 billion public