Why the Hindenburg Report should lead to a more detailed investigation on the organisation

Dear Hindenburg: 

There are two essential elements of research: The first is independence, and the second is integrity. 

Both involve not shorting the stocks of a company you have "researched" and then being found out, because you did not declare a conflict of interest. Since then, there hasn't even been a whiff of an apology from you. Which makes your case truly unique in the world. Any other research firm that did not disclose conflict of interest would have found itself de-registered. 

Then, you come up with ANOTHER "Research" report, this time targeting India's regulator personally, just as the regulator was starting to regulate finfluencers and lending apps. 

I have spent yesterday (It was Sunday, after all) reading your report, the statement from Madhavi ji, and your 'second explosive report' at 9 pm. 

Here's the thing: 

You are not connecting the dots. You are imagining connections. I invested in a fund that also invested in a suspect company x years ago. Therefore, I must be not investigating the said company today. 

Here are my questions to you: 

A. What did the rest of the investment portfolio of the fund? What has been the history of SEBI investigations or regulation upon these companies under Ms. Buch's leadership? 

B. What is the quantum of the said "gain" that prevented Ms. Buch from acting on Adani? USD 870,000? You might want to compare that to Ms. Buch's family income to understand why that figure makes no sense. 

C. What is the evidence that the investigation from SEBI into Adani was inadequate (other than you opinion, which, as you know, is less that worthless, in that if you point at someone we will only trust them more)? 

D. And the best part is your 416-word disclaimer: 

    - We are not a registered investment advisor. 

- The report is the nothing but “opinion and investigative commentary” and that readers should do their own due diligence.

- Following publication of any report or letter, we intend to continue transacting in the securities covered herein, and we may be long, short, or neutral at any time hereafter. - Meaning, you are not saying you will not long or short them again to make moneys. 

- Hindenburg Research makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information

And my favourite part of the disclaimer: 

All expressions of opinion are subject to change without notice

- huh, really? 

Also, Hindenburg, the market of unethical finfluencers is MUCH BIGGER. If one wanted to make unethical monies, delaying investigation and regulation of that segment is much easier. In fact, her actions to protect small investors, to release a report on the performance of FnO traders, have only earned her respect - which is more than one can say for you. 

I want to know how your reports get the kind of media attention that they do. Other good researchers I know release better quality stuff and they have to share those reports on Whatsapp. 

Your report deserves to remain unread because it is ridiculous. But more importantly, it is time to look at your registration. You have now demonstrated two deliberately malicious attempts to influence India's securities market. 

PS: I tried to check what kind of legal entity you are, and Surprise, that information is not present on your website. There is no address, no leadership, no team, no information at all. Just one email id on the Contact us Page. It's a 3-page website. 

PPS: I would post this widely but that would only give u more publicity, which, in all honesty, you do not deserve at all. 

Original Quotes

 We should not denounce our idols just because someone else is calling them pagan. #Hindenberg #SEBI 

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I just realised that basically, Jane Austen is the mother of all Mills and Boon plots - average girl, very talented, roasts the rich, handsome, ideal bachelor and he falls for her hook, line, and sinker. Then, couple of mis communications, one separation, and then reunification.

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You cannot hide the shine of a diamond by smearing it with coal. Shine on!!!!

****** 

My memory is a worse than my ingenuity. So, i get great ideas, but forget them. 

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Middle managers are the teens of the corporate world - they are dying to assert their individuality, but struggling to make sense of this brave new world. 

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The trouble with democracy is that we expect great marketers to be great administrators. 

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The ecosystem is, and has always been, the enabler and the disabler for all human enterprise. 

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What Shrimati ji means

We often address the wife as "Shrimati ji" in India. 

Ever wondered what the term Shrimati means? 

Shree(big ee sound, not the small i sound)  means Lakshmi and Mati means brain or wisdom of. 

So, Shrimati means one with the wisdom of Shree Herself. 

Some other ways to address wives: Bhagyawam (the lucky one), Karmaanwaaliye (the one with good karma). 

It was written in our scripture that the wife is the one who brings good luck to the husband, and his destiny begins only after marriage. 

Air Vistara and Air India

The merger of Air India and Vistara reminds me of an old Khushwant Singh joke.

When Giani Zail Singh became the 7th President of India, his lack of fluency in English led to some embarrassment. So, Mrs. Gandhi personally appointed an English tutor for him. He was to receive instruction every evening.

After 3 weeks, Mrs. Gandhi called up the Singh household and asked to speak to Giani ji. She found that his English was halting, if that. She then had a word with the tutor and asked him to expedite the progress.

Three weeks went by, and Mrs. Gandhi called again. With the same result. This time, her words to the tutor were stronger.

Since Mrs. Gandhi was travelling, she could only call after a month. As luck would have it, the tutor picked up the phone.

"Oh, hello, Martin. Does your student speak English now?" she enquired.
"O seekh jayega haule haule. Kaali kyun karni hai?" Martin replied. (Translation: Punjabi for - He will learn gradually. Why the rush?)

Short version: Air India may be learning a few things from Vistara, but Vistara is learning a lot from Air India.
hashtag#SundayHumour hashtag#FlyingExperience

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Book Review: The Secret of a Telltale Diet

This book reads like a series on TV, screenplay intact. That is to say, the writing is very visual - one can totally imagine each scene being played out. That is one of the biggest strengths of the book. 

The characters are easy to imagine, partly because they are monochromatic. 

I am not sure if we needed all of them though. The story telling might have been more fluid with fewer characters. 

The book tells the story of a certain section of society, and tells it rather well. If one does not belong to that section, the book acts like a window to peek into morning coffees, gym sessions, dinners and parties with family friends, open conversations about attraction (and lack thereof), flirting, and attention. 

It also delves into the many emotions a middle aged (?) woman has to go through - friendship, comfort, insecurity, envy, cattiness, judgement, camaraderie, professional accomplishment, a sense of companionship with the partner... and does so in a rather effortless, non-preachy way. 

At just about 252 pages, the book is an easy breezy two hour read. The writing is effortless and flows naturally. The emotions are expressed just so and are easy to understand. There is neither too much melodrama nor too much stiff upper lip. 

The highlight of the book, however, is the love story of Samar and Siya. Their arguments are glossed over, their good-natured banter, their frank, honest conversations, and way that they are always there for each other. What is unreal is that Samar never reaches out to Siya for help on anything. Maybe I would have liked a little bit of that. 

#SpoilerAlert: 

Oh, and an AND size 6 is a mistake the editor should have pointed out. AND dresses start at size 8. A size 8 is not likely to fit a 52-kilo petite 5 foot 2 or five foot 3 person. More likely a Size 10.  

https://www.indiainfoline.com/blog/key-mutual-fund-trends-observed-in-june-2024

Madam Finance Minister 

FnOs are not leading to the bulging of your equity markets. SIPs are. 

Quoting from this report: 

SIP flows in June 2024 touched a record ₹21,262 Crore. This is the third consecutive month that the mutual fund monthly gross SIP flows have been above ₹20,000 Crore. The month of June 2024 also saw 55.13 Lakh fresh SIP accounts, compared to 49.74 Lakh fresh SIP accounts added in May.

 Active equity funds saw record monthly inflows of ₹40,608 Crore, after setting a record of ₹34,697 Crore in May 2024. 

Now, if you are a mutual fund manager, and you have this much money coming into your equity fund, what will you use it for? Well, buying equities!! 

This is how much FII brought into and took from the country: 

https://www.cdslindia.com/Publications/FIIFPIInvstmntFinYrData.aspx