Business

Nathan Anderson, founder of Hindenburg, takes over Spacs


Nathan Anderson has become quite famous for his alleged corporate fraud, knowing that he could be a person at a New York party.

“I’m not leading, ‘Well, my name is Nate; I’m a short seller,'” says the founder of Hindenburg Research. “It’s a pretty good way to get rid of any party or social environment.”

Anderson has made a name for himself by taking on some of the most sought-after businesses in the latest vacancy, including the newly built electric truck Nikola Nikola Lordstown Motors.

This week, he dropped a bomb on a market already targeting special purpose target companies. DraftKings, The sports betting business is widely regarded as the catalyst for the boom. Shares initially fell more than 11 percent, but have since largely recovered.

According to Refinitiv, Spacs has a record year with more than $ 100 billion raised so far, but for Anderson, double targeting of the industry is unintentional. “We’re not really putting it և saying, ‘Oh, we’ll see Spacs today,'” he said, adding that his team was “just kind of looking back” at blatant fraud.

The 37-year-old man, who has built a small team in Hindenburg with five full-time employees and a handful of contractors, has saved his life on important research that he believes plays a role in today’s markets.

He says. “Not all funds deserve to go to the moon.”

Accessible, sometimes self-admiring, Anderson grew up in a small town in Connecticut and went on to study international business management at the University of Connecticut. Living in the “diverse diversity of life”, he chose to study abroad in Jerusalem, where he volunteered for the local ambulance service, an experience that so far informs his approach to short selling.

“As an ambulance doctor, you try your best to heal the fracture,” he says. In Hindenburg, “we go in and try to cover some of the issues that may be hidden in some of these companies, in some parts of the industry, to see if we can improve the situation.”

Returning to the United States, Anderson consulted with the financial software company FactSet, which manages client accounts for investment managers, where he realized that “the processes of these firms are almost the same, they do not stimulate much.”

This was followed by roles in Washington և New York Brokerage Dealerships, including due diligence in investing opportunities. As he began to notice the potential schemes of the pyramid, “fascinated by the combination of admiration and horror,” he began to study them on his own time.

His first big break came when he tried to improve his investigative skills. Anderson contacted Harry Marcopoulos, known as the flag bearer of Bernard Madoff’s Ponzi scheme, և they joined in a lawsuit against Platinum Partners, the hedge fund eventually charged $ 1 billion for fraud.

It has not been previously reported that Anderson և Marcopoulos has been alerted to a criminal case in which seven high-ranking officials have been charged and several have pleaded guilty.

“He’s a world-class digger,” said Marcopoulos, whom Anderson considers an educator. “If there are facts, he will find them; very often he will find that there are skeletons in the closet.”

Having to “work to turn on the lights” from time to time in the Times, Anderson strengthened his budget by selling some of his work to members of a small group of like-minded researchers for a fee. He initially followed small companies, but since then he has been building on his success.

“Nicholas made his promotion to greatness and prestige,” says Marcopoulos. “He works all the time, companies are afraid of him.”

Anderson’s emergence is a difficult time for short traders who have been brutally exposed to the longest bull market in history. Even heavyweights like Chan my Chanos: David Einhorn have struggled in a market that has moved upwards relentlessly. others, including Bill Ackman, have stopped betting against companies altogether.

This year was especially fraught with the emergence of the Reddit trading army, which is coming together to promote short-term stocks, for which short traders are the number one public enemy. Anderson has been the target of countless posts on daily trading forums, but he takes it all in stride. “Finances before memes were much less interesting,” he says.

His particular favorite is a video featuring Chamath Palihapitiya, Spac’s prolific sponsor who leaked Clover Health to the public as King Kong և Hindenburg, who published critical reviews of the company as Godzilla. In the video, “King Kong absolutely beats live resin from Godzilla. We were like, it was really well done.”

Other financial experts, even on buyside, say they welcome his research. Investment consulting firm Tony Kipreos, who first met Anderson eight years ago, says there are relatively few people who do comparable work.

“Anderson is a very honest service, because if you show that state-owned companies or private funds are misinforming, that’s a big deal,” Kipreos said.

The companies targeted by Hindenburg do not feel right, they have disputed or reduced his accusations, some claim that his reports are an advertising ploy.

Anderson insists he is not completely sour about empty vehicles.

“I still keep my mind open to the fact that there may be good Spac,” he says. “I have not seen it yet.”



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