“The fall of the 3rd richest man in the world. No need to tax the rich denouncing fraud is enough! “. Editorial by Charles SANNAT – Insolentiae

My dear impertinents, dear impertinents,

With a fortune of 121 billion dollars he was the 3rd richest man on the planet and the largest fortune in Asia.

For the past few days, it’s been a descent into hell.

The moral of the story is simple enough for everyone.

Here as elsewhere.

The problem is in no way the accumulation of wealth and the fact that we have a few billionaires, the problem is always the respect of the laws, and the limitations which avoid excesses and more generally fraud.

When you do your job, when the press does its job, when parliamentarians do their job, when justice does its job, in a healthy and functional democracy there is no problem because the cleaning up is done fairly quickly.

However, for a few years, here, at home, as there, many forget to do their job and cover often suspicious activities. Business does not come out anymore and when it does come out, it is quickly snuffed out.

In 5 days, the ADANI group lost more than half of its capitalization and its founder half of his fortune. At current prices, he is no longer even in the 10 richest men.

An activist fund the Hindenburg Research LLC

Hindenburg Research LLC is an investment research firm specializing in short selling founded by Nathan Anderson in 2017 and based in New York. Named after the Hindenburg disaster of 1937, which they characterize as a preventable man-made catastrophe, the company generates public reports through its website that allege corporate fraud and malfeasance. It is a very young company.

It has a great particularity that I greatly appreciate. She investigates companies and once she finds what’s wrong writes a nice report that she makes public for free which is very naughty, when you have read and understood the rest.

Indeed, before publishing its report and the results of its research, the company takes short selling positions. Then, once the securities have been sold short, it makes the results of its investigations public.

And there… badaboum the course of the company concerned obviously collapsed and Hindenburg Research pocketed substantial profits.

I find the idea rather exquisite to execute by the very arms of the market and the tools of speculators billionaires at fault and guilty of fraud.

There will inevitably and very quickly arise legal problems on what Hindenburg Research has just done and by attacking the 3rd fortune in the world, it is not said that the company will not also find itself the subject of an investigation. especially on the notion of conflict of interest, even if the logic of investigating a company before investing one’s money in it is still a good idea.

In fact, it’s called working.

But no one works in our world anymore, starting with journalists who only copy dispatches from official news agencies or press releases from mamamouchis and other competent and authorized “authorities”.

In the meantime, it’s free fall for our future former billionaire!

It is already too late, but all is not lost.

Prepare yourselves !

Charles SANNAT

“Insolentiae” means “impertinence” in Latin
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