Hindenburg Research’s founder said he would disband the firm whose reports sparked heavy selling by investors and investigations by authorities, wiping billions from the market values of companies including India’s Adani Group and US-based Nikola. Nathan Anderson, who started Hindenburg in 2017, cited the toll of the “rather intense, and at times, all-encompassing” nature of the work as the reason for his decision, in a website post published on Wednesday. Short-sellers like Anderson, who managed his firm’s own money but not that of others, bet against companies they believe have accounting issues, mismanagement or fraud, which they find usually after a long period of investigation. Short-selling involves borrowing a stock to sell it in the expectation the price will fall, then repurchasing the shares and pocketing the difference. Should the price rise, the seller can be exposed to potentially unlimited losses. Anderson, who did not immediately respond to a Reuters request for comment, said there was not a specific reason for his decision – “no particular threat, no health issue, and no big personal issue.”“The …