• 30 Oct 2008 at 2:38 PM

In Germany There Is No Age Of Consent With Cash Settled Options

By Bess Levin

So, it’s been widely reported that Perry Capital is one of the hedge funds Porsche made sweet rape to the other day. Allegedly Perry is saying they are down approximately 8% on their Volkswagen position (this seems low to us given that the stock spiked 400% at one point and is still more than double its pre-Porsche penetration) which was 5% of PC’s portfolio (presumably this was before it got inflated by the massive spike in VOW). The portfolio is supposedly down over 12% MTD and 20% YTD. Richard P. is apparently telling people that nothing is fucked, and he still believes in the position, which they are keeping. Man Purse expects (hope, pray, please, god) to recoup the losses.

Comments (15)

  1. 1
    Posted by guest | October 30, 2008 at 2:41 PM

    doesn’t the sham wow guy say germans make good stuff?

  2. 2
    Posted by guest | October 30, 2008 at 2:42 PM

    smart, put a german on it

  3. 3
    Posted by guest | October 30, 2008 at 2:49 PM

    what does it take to get a HF manager to admit that he was wrong, the story has changed, and he is going to sell?

  4. 4
    Posted by guest | October 30, 2008 at 2:55 PM

    @ 1 yes, vince offer says “it’s made in germany, and you know those Germans make good stuff.” Also I think that vince offer is behind the VW debacle.

  5. 5
    Posted by guest | October 30, 2008 at 2:56 PM

    @3 Margin Call

  6. 6
    Posted by guest | October 30, 2008 at 2:58 PM

    WOW….

  7. 7
    Posted by MarshallStack | October 30, 2008 at 3:03 PM

    Bessie -
    age of consent
    sweet rape
    pre-Porsche penetration
    massive spike
    fucked
    You write purty good when you’re hard up.

  8. 8
    Posted by guest | October 30, 2008 at 3:04 PM

    you will never see a hf manager telling truth to the public.

  9. 9
    Posted by guest | October 30, 2008 at 3:07 PM

    @8- he didn’t say this in public. it was a private convo that somehow db was privy to.

  10. 10
    Posted by guest | October 30, 2008 at 3:13 PM

    perry is absolutely fucked. they’re done. they have all these shitty credit on their book they’re not marking honestly. But neither are most other credit funds.

  11. 11
    Posted by StupidEquityGuy | October 30, 2008 at 3:14 PM

    BOSTON (Reuters)�Hedge fund manager David Einhorn’s Greenlight Capital suffered heavy losses in his portfolio when German carmaker Volkswagen’s shares spiked 82% on Tuesday, people familiar with his portfolio said.
    …
    Mr. Einhorn’s Greenlight Capital L.P. had already lost 16.4% in the first nine months of the year, Mr. Einhorn told investors in a letter on Oct. 1. He said Porsche was one of nine losers in the portfolio that each cost more than one percent of capital in the quarter.
    Losses will be even bigger now and make October another difficult month, two people familiar with Einhorn’s positions, who declined to be identified because they are not authorized to speak about the hedge fund publicly said.
    Greenlight Capital declined to comment.

  12. 12
    Posted by guest | October 30, 2008 at 3:28 PM

    Didn’t the exact same think happen in the 1930′s. Can I short Poland?

  13. 13
    Posted by guest | October 30, 2008 at 3:29 PM

    WTF did gasbag just do??

  14. 14
    Posted by guest | October 30, 2008 at 4:09 PM

    Think Porsche just cost Horny “more than one percent of capital.”

  15. 15
    Posted by guest | November 1, 2008 at 11:43 AM

    That’s alright Rich Perry is making a killing on all those SHLD shares he bought to make nice to Ed Lampert. These guys are real SUPERSTARS.

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