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The emperor's new valuation

Short-sellers have a role to play in market processes - but it is regulators that really make markets move

Topics
Adani Group | valuation | Markets

Mihir S Sharma 



Mihir S Sharma

Everyone has heard the story of the emperor’s new clothes. Modern shareholder capitalism is built around the principle that those who call out emperors for having no clothes should profit from the effort. Bears and short-sellers are essential to the function of markets; they keep valuations from getting out of hand.

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First Published: Sun, January 29 2023. 21:52 IST

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