We think David Einhorn is dreamy. So you can imagine our alarm when rumors reached us to the effect that Greenlight was involved in this shabby Volkswagen business. Greenlight, apparently, was betting against Volkswagen via short positions. Not a bad play early in the game of a budding global recession. Equally deft given the powerful union at Volkswagen, a force preventing any sort of cost mitigation during a downturn. So when Porsche, which has been quietly and not so quietly angling for control ("domination" in the German) of Volkswagen for some time, surprised the market with a set of rather aggressive announcements, panic set in, shares quadrupled and shorts scrambled to cover. You can be fundamentally right and still take it on the chin.
We hope David comes through. Don't let us down, Einhorny!
Panicked Traders Take VW Shares on a Wild Ride [The New York Times]
Posted by guest , Oct 29, 2008 10:50AM
FIRST with a question: Who killed Daniel Harrison, and why?
Posted by MarshallStack , Oct 29, 2008 10:53AM
How do you know he is dead?
Seems like you know too much my friend.
Maybe you should come downtown and talk it over.
No - you won't need an attorney.
Posted by guest , Oct 29, 2008 10:54AM
@1, ep, in the billiard room with a candlestick.
Posted by guest , Oct 29, 2008 10:56AM
Colonel Mustard in the kitchen with a candlestick?
Posted by guest , Oct 29, 2008 10:57AM
SPODE in the closet with shamwow
Posted by guest , Oct 29, 2008 10:58AM
anybody getting laid off today?
Posted by guest , Oct 29, 2008 10:59AM
Dude's been dead for 3 years.
http://www.askmen.com/editor/101_150/138_editor_letters.html
Posted by guest , Oct 29, 2008 10:59AM
slow news day? c'mon EP, charlie can't go on the air with this dribble.
Posted by Anal_yst , Oct 29, 2008 10:59AM
Keith on Mott with a '98 explorer sport?
Posted by guest , Oct 29, 2008 11:00AM
We gotta ride tonight
My little homey Danny tonight
Posted by guest , Oct 29, 2008 11:03AM
Must have been all thosed former lehmanites buying VWs!
Posted by guest , Oct 29, 2008 11:04AM
http://tinyurl.com/58kwxc
I call shenanigans on the banks and Gov!
Propaganda abounds...
Posted by guest , Oct 29, 2008 11:04AM
I found a brown dildo in the 7th floor mens room today. Please ask the security guard for it if you lost it.
Posted by guest , Oct 29, 2008 11:05AM
SPODE is laying himself in his shamwow
Posted by guest , Oct 29, 2008 11:06AM
Props to #5....well played sir...very well played.
Posted by guest , Oct 29, 2008 11:07AM
So what do you guys think? Does the market actually manage to hold up this massive gain or do we retest the lows yet again at the end of the week?
Posted by guest , Oct 29, 2008 11:08AM
@16
Back in the cage.
Posted by guest , Oct 29, 2008 11:10AM
@17
Back to work.
Posted by guest , Oct 29, 2008 11:11AM
Where's Danny boy? We need a good punchbag over here
Posted by Debter , Oct 29, 2008 11:12AM
So it Trish R wearing the same outfit she had on yesterdy? Maybe didn't make it home last night?
Posted by guest , Oct 29, 2008 11:13AM
@16--Do you believe in aliens?
Posted by guest , Oct 29, 2008 11:15AM
Iceland bloggers are going broke. They need your help.
http://icelandweatherreport.com/
Posted by guest , Oct 29, 2008 11:17AM
And I shall hear, though soft you tread above me;
And, oh, my grave will warmer, sweeter be:
http://www.youtube.com/watch?v=YJZ6hAYRI8U
Posted by EricM , Oct 29, 2008 11:17AM
What, no calls to ban shorts? I'm shocked at the lack of conviction to remove these evil instruments from the system permanently.
Posted by guest , Oct 29, 2008 11:22AM
@21.
Yes. They all come from Mexico.
Posted by guest , Oct 29, 2008 11:22AM
Who is Tris R? Is she hot?
Posted by guest , Oct 29, 2008 11:25AM
@26
http://media.cnbc.com/i/CNBC/Sections/CNBC_TV/CNBC_US/Bios/Regan_Trish/Cover/Regan_Trish_240x250_1.jpg
Posted by guest , Oct 29, 2008 11:26AM
@26
http://media.cnbc.com/i/CNBC/Sections/CNBC_TV/CNBC_US/Bios/Regan_Trish/Cover/Regan_Trish_240x250_1.jpg
Posted by prgy , Oct 29, 2008 11:26AM
@ 12 I agree 100%. Speaking of squeezed, I just squeezed out a giant fart in the office and people are starting to gag. No one knows it was me.
Posted by guest , Oct 29, 2008 11:26AM
all you fucking anklebiters get your own material. SHAM-WOW was mine.
Posted by guest , Oct 29, 2008 11:28AM
this PRGY guy is a juvenile delinquent.
Posted by guest , Oct 29, 2008 11:35AM
Live by the sword, die by the sword...
Posted by guest , Oct 29, 2008 11:47AM
What is a "short squeeze"?
Posted by guest , Oct 29, 2008 11:48AM
What is a "short squeeze"?
Posted by guest , Oct 29, 2008 11:54AM
@34--when a hooker grabs your dick
Posted by VOL IS KING , Oct 29, 2008 12:21PM
Einhorn is utterly utterly incompetent. Great he can read a fucking balance sheet. but beyond that... the guy is supposed to be HEDGE fund manager, emphasis on hedge not double down on the same bet you're short and lock in your loss, Hedge as in protect your gain.
The fucker can't short a bankrupt company and make a profit. He should turn over his capital to John Paulson and admit he has had two go ideas in his whole life and even when they were exactly right on price, direction and timing he STILL lost money, pack it up and see if Arby's is hiring.
done.
Posted by guest , Oct 29, 2008 12:47PM
@31 You're a towel.
~Towelie
Posted by guest , Oct 29, 2008 12:53PM
36 I agree completely. I want so badly to have been whoever pulled that fantastic play for Porsche
Posted by guest , Oct 29, 2008 12:54PM
these short sellers were not fundamentally right. they went long porsha and shorted VW as an arb and it blew up on them. this was not an outright short trade
Posted by guest , Oct 29, 2008 3:23PM
how much of the $30 billion loss was GL part of?
http://www.weeklyta.blogspot.com
Posted by guest , Oct 29, 2008 7:33PM
@36 I agree; Einhorny really deserves to have a VW Phaeton ($90K) permanently implanted in his annus; (in a sense he already has) to remind him he is not MASTER OF THE UNIVERSE!
Posted by guest , Oct 29, 2008 10:55PM
I love you all.
Posted by guest , Oct 29, 2008 11:54PM
do all you pretenders still make fun of meridith Whitney or however you spell her name?
Love,
Retired before 40 retail guy