porsche and VW kill off hedge funds
 

Interesting article.

Basically, Volkswagon became the world's largest cap company for the past day or two in what maybe the biggest short squeeze in HISTORY.

Essentially, a lot of traders, most likely hedge funds, shorted Volkswagon's stock like crazy without realizing that Porsche sort of secretly bought out EVERYTHING.

So in a massive panic all the short sellers had to buy back the stock to cover, and volkswagon became the largest company on earth in market cap overnight.

Actually, now is the perfect time to short VW's stock. lol. :p

This is stranger than fiction, folks!

http://www.marketwatch.com/news/stor...st=morenews_ts

Reading the article more carefully also reveals that Porsche made have made a friggin KILLING on this situation. Possibly billions and billions of Euros if I understand correctly.

Porsche owned options to some 30% of all shares outstanding at VW in addition to the 40% of the company they own outright.

IF Porsche is excercising these options at the top of this short squeeze, they may collect $1000 Euros PER SHARE. Minus their initial investment which I assume may be about $200 euros per share.

HOLY SH!T!

Porsche just made what MAY BE THE BIGGEST SINGLE STOCK KILLING IN THE HISTORY OF OUR CIVILIZATION.

FOR REAL.

Disclaimer: I am not sure of the particulars of the options they control so I may be incorrect about the ability to excercise options before expiration. But they are still going to make a killing either way as they said they will exercise the options.

And it means that they will own 74% of VW and get paid royally to do so.

This story is still developing.

Thats very very cool.

So, when do the rumors about Porsche buying either BMW or Mercedes begin? If you'll remember, in the bad days, both were rumored to be in pursuit of Porsche. Turn about and all. . .

This is a MUCH better story than GM and Chrysler merging.......:cool:

Or maybe Renault and Peugeot :lol: :lol: :twisted:

Serves the hedge fundees right. Maybe they can move on to jobs actually making things or helping people.

Or standing in soup lines.

Believe me, some of those guys are getting wiped out and they are not likely to get a sweetheart bailout on my dime either... :D

so they gonna drop the 911 GT2 pricing down to realistic levels so I can buy one?

True, but don't be shocked if "wiped out" means rendered merely well-off. There were a LOT of pricey assets accumulated by Wall Streeters. Their homes may not be worth what they owe, but they've got lots of stuff. Maybe I should be watching Craigslist-Darien,Conn. for my dream car.