godo come un maiale... gestori di hedge in lacrime... uhhh come godo
i teteschi li hanno uccisi con le loro stesse armi
30 MILIARDI di euro, ciulati da Porsche agli hedge british-ammericani.... uuuuuuhhhhh come godo
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Porsche and VW share row: how Germany got revenge on the hedge fund 'locusts'
Gordon Rayner discovers how financial predators became the prey in the audacious multi-billion takeover of VW by Porsche
By Gordon Rayner, Chief Reporter
Last Updated: 9:22PM GMT 29 Oct 2008
A new Volkswagen Tiguan is stored at the Autostadt distribution centre next to the Volkswagen plant in Wolfsburg. Porsche had quietly been adding to its 42.6 per cent stake in VW Photo: REUTERS
With its jaws gaping, poised to swallow its prey, Damien Hirst's tiger shark in formaldehyde takes pride of place in the $700 million art collection of the hedge fund manager Steven A Cohen.
Until now, it had served as a symbol of the killer instincts which made Mr Cohen and his fund SAC Capital one of the biggest predators in the world's financial markets, earning him a personal fortune estimated at $8 billion.
"I liked the whole fear factor," he said cheerily when explaining what had attracted him to the Hirst shark which he bought for $8 million four years ago.
The fear factor is something Mr Cohen, and around 100 other hedge fund managers, are experiencing, like never before, as SAC Capital and others collectively lost a staggering £24 billion with a doomed gamble on Volkswagen shares, according to the Wall Street Journal.
The biters have been well and truly bitten, and in a week full of ironies it was Porsche, manufacturer of the hedge fund managers' transport of choice, which was to blame.
While "hedgies" bet on VW shares falling because of the global economic downturn, regarded by some as "the safest play in town", Porsche had been secretly building up a 74.1 per cent stake in VW through intermediaries.
When Porsche showed its hand, it sent the VW share price rocketing and exposed the hedge funds to breathtaking losses.
"I have had hedge fund managers literally in tears on the phone," said one London-based analyst yesterday. Others likened the Porsche disclosure to a "nuclear bomb going off in our faces", describing the resulting losses as "a bloodbath".
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http://www.telegraph.co.uk/finance/...ny-got-revenge-on-the-hedge-fund-locusts.html
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Funds lose £24bn as VW shares take off
Hedge funds have lost as much as €30bn (£24bn) short selling carmaker Volkswagen after the shares soared on the revelation that rival Porsche had secured 74pc of the equity and planned to seize control of its rival.
http://www.telegraph.co.uk/finance/...46/Funds-lose-24bn-as-VW-shares-take-off.html
