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JayEnAar Profile picture
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Feb 19 • 5 tweets • 2 min read
Sugata Ghosh writes nonsense. #Hindenburg is an open book. They are the "sell' side of the buy/sell coin that is the stockmarket. They did Indians a service by calling out the fraud in the Adani conglomerate, and profited from their insight.

m.timesofindia.com/india/the-mess…
Shortsellers get a bad press. But if you take a dispassionate view they are no different from the early investors who oorrectly spot the next big thing like Amazon or Intel or Google.
Read my thread
Sorry I linked the wrong thread. Here, in this twitter thread I explain why shortsellers actually do us a service. They step in to correct the 'irrational exuberance' of those who think buying a stock has to be a 1-way bet.
My take: Image
If you want to follow up the idea that short sellers perform a useful clean-up function, esp when regulators cannot or will not do their job, see my tweet thread here:

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More from @GorwayGlobal

JayEnAar Profile picture
Feb 21
Let me do a proper thread that flows nicely
Re: Claims made by Mr Bagla, boss of Invest india at a Treasury Leadership Forum 2023 and shared by several people with Wow! and great!
I did a fact check. here goes. (link to his speech at the end)
1. Mr. Bagla is being disingenuous.
About GDP he says
1st Trn took 67 years
2nd Trn took 8
3rd Trn took 5 years.
So he must be starting at 1943.
I dont have data going that far back but we have this from World Bank
1960(GDP = 37 billion)
to
2021 (GDP 3 trillion) Image
Now here's the point. In 1960 Our population was 445 million. in 2021 it was about 1.4 billion. That is a 3.14 x increase. So the bulk of our GDP growth was due not to rising productivity but due to an expanding and growing labour force.
More people = higher total GDP. Duh!
Read 11 tweets
JayEnAar Profile picture
Feb 14
BBC , India and the tax survey. How the world is viewing it all.
This morning on #ValentinesDay Income tax officers in India carried out a raid (sorry, Survey) on the offices of @BBCIndia.
The BBC of course reported it as just another story, and made the obvious link between this latest run in with the Indian Govt and their niow (in) famous documentary "India - the Modi Question".
They stated that the BBC was "fully co-operating" with [the] authorities, and hoped "to have this situation resolved as soon as possible," But they also took the obvious opportunity to explain the background.
Read 17 tweets
JayEnAar Profile picture
Feb 12
I would maintain a high level of scepticism about the Indian Govt's claim of a huge lithium find in J&K. It could be a diversionary story. They have a track record.
In 2007 there was this:
Gujarat State Petroleum Ciorporation had earlier "announced its biggest ever discovery of 20 trillion cubic feet (tcf) of natural gas from this field at the Deendayal block in mid-2005"
livemint.com/Companies/eIY7…
By 2013 this became 3.61 Trillion Cubic feet of gas.
Read 9 tweets
JayEnAar Profile picture
Feb 9
Unable to counter the @HindenburgRes allegations against #AdaniGroup, the Indian rightwing zealots, probably with support of the Govt, ios seeking to rope in the #SupremeCourt to shield #SEBI fromthe need to investigate.
1. They first want to go after #Hindenburg
Next, they want to gag any discussion of the stock valuation problems of the #AdaniGroup.
Botht are misguided. The Supreme Court should take a straightforward approach.
1. The Courts cannot prevent investors from losing their shirts in the stockmarket. They must be allowed to lose their investments just as they are entitled to keep their gains.
Read 8 tweets
JayEnAar Profile picture
Feb 7
Once the first bug skeleton in the cupboard is revealed, other parts of the Palace reveal their little bits of buried evidence.
Here is @FT looking into the audit of the UK entity. Image
After he $3.5bn sale, Adani changed the auditor of Adani Energy Holdings Limited, the main UK holding company that houses the subsidiaries, from Deloitte to Crowe.

Crowe UK earned £143,000 for its 2022 audit of Adani Energy Holdings Limited, Deloitte had charged 257,000.
This is Adani Energy Holdings Ltd, from UK Companies House filings, 20 directors at var time 19 resigned leaving the one Sanjay Newatia. Image
Read 12 tweets
JayEnAar Profile picture
Feb 7
Watching @RahulGandhi speaking in #Loksabha. It is telling - the reaction of the BJP Front bench to every minor point that Rahul makes linking Adani with ModiJi.
@RahulGandhi In July 2020 this happened. Image
@RahulGandhi In July 2021 this happened Image
Read 4 tweets

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