Wednesday, October 29, 2008


"348% Two-Day Gain Is Pain for Hedge Funds"
I won't rewrite the Volkswagen short squeeze story since it has been written to death this week, but let me just say that the above headline from the WSJ should not, under any circumstances, be written about a global company that has been around since 1937 and has a market cap in excess of $100 billion. Well, if it happened then it should be written. The whole thing shouldn't have happened is what I mean.
By the way, Volkswagen is down 40% in DAX trading today. If you see a stretcher in midtown today being loaded into an ambulance, it's a hedge fund getting carried out.

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