The emperor then parades around town with these clothes. The people in the town pretend to be in awe. They applaud their leader. However, there is a young boy who sees through it. The child shouts out that the emperor has no clothes. It is only then that the crowd realise that they have been fooled.
Most investors have not read Hans Christian Anderson’s The Emperor’s New Clothes. This is no surprise. It was written in 1837.
It is about a pompous Emperor who was found with his pants down. This tale may help us understand the Adani Group. The group had lost US$100 billion ($132 billion) in stockmarket value at one point. The story features two swindlers who pose as weavers. They tickle the vanity of the emperor by promising him fine clothes. The clothes that they promise are said to be lavish beyond imagination. The buttons are made from gold. The fabric is of the finest silk. However, the clothes are said to be invisible to the stupid.
