Hindenburg Research Is Closing Up Shop: 'We Shook Some Empires That We Felt Needed Shaking'

Short-seller Hindenburg Research on Wednesday announced plans to disband the New York-based investment firm.

“The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today,” Hindenburg founder Nate Anderson said in a blog post.

What To Know: Anderson founded Hindenburg Research in 2017. The first half of the letter published on Hindenburg’s site is a reflection on the success of the company and how it came to be.

“Nearly 100 individuals have been charged civilly or criminally by regulators at least in part through our work, including billionaires and oligarchs. We shook some empires that we felt needed shaking,” Anderson said.

See Also: Fed Beige Book Flags Moderate Growth, Yet Tariffs, Immigration Policies Spark Concerns

About halfway through, Anderson addresses the disbandment, but he said there is no particular reason why. Anderson noted that he felt like he had some things to prove to himself early on, but that he has “finally found some comfort” with himself. Anderson also suggested his professional life has taken a toll on his well-being, adding that the “intensity and focus” required for the role has come at a cost.

“Someone once told me that at a certain point a successful career becomes a selfish act,” he said.

Anderson said his immediate focus is on finding opportunities for members of the Hindenburg team. Some will be starting their own research firms, while others are seeking different opportunities.

Anderson also noted he plans to spend the next six months or so working on putting together materials to open-source Hindenburg’s research model and share how the firm conducted its research so that others may be inspired to do the same.

Hindenburg was the short-selling firm behind some major sell-offs in recent years including Adani Group and Super Micro Computer Inc SMCI. Hindenburg has also targeted big names like Icahn Enterprises L.P. IEP, Roblox Corp RBLX and most recently, Carvana Co CVNA.

Read Next:

• Hindenburg Shorts Carvana Stock, Claims Used Car Retailer’s Turnaround Is A ‘Mirage’

Photo: Courtesy of Hindenburg Research.