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]
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
FIRST with a question: Who killed Daniel Harrison, and why?
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.
@1, ep, in the billiard room with a candlestick.
Colonel Mustard in the kitchen with a candlestick?
SPODE in the closet with shamwow
anybody getting laid off today?
Dude’s been dead for 3 years.
http://www.askmen.com/editor/101_150/138_editor_letters.html
slow news day? c’mon EP, charlie can’t go on the air with this dribble.
Keith on Mott with a ’98 explorer sport?
We gotta ride tonight
My little homey Danny tonight
Must have been all thosed former lehmanites buying VWs!
http://tinyurl.com/58kwxc
I call shenanigans on the banks and Gov!
Propaganda abounds…
I found a brown dildo in the 7th floor mens room today. Please ask the security guard for it if you lost it.
SPODE is laying himself in his shamwow
Props to #5….well played sir…very well played.
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?
@16
Back in the cage.
@17
Back to work.
Where’s Danny boy? We need a good punchbag over here
So it Trish R wearing the same outfit she had on yesterdy? Maybe didn’t make it home last night?
@16–Do you believe in aliens?
Iceland bloggers are going broke. They need your help.
http://icelandweatherreport.com/
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
What, no calls to ban shorts? I’m shocked at the lack of conviction to remove these evil instruments from the system permanently.
@21.
Yes. They all come from Mexico.
Who is Tris R? Is she hot?
@26
http://media.cnbc.com/i/CNBC/Sections/CNBC_TV/CNBC_US/Bios/Regan_Trish/Cover/Regan_Trish_240x250_1.jpg
@26
http://media.cnbc.com/i/CNBC/Sections/CNBC_TV/CNBC_US/Bios/Regan_Trish/Cover/Regan_Trish_240x250_1.jpg
@ 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.
all you fucking anklebiters get your own material. SHAM-WOW was mine.
this PRGY guy is a juvenile delinquent.
Live by the sword, die by the sword…
What is a “short squeeze”?
@34–when a hooker grabs your dick
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.
@31 You’re a towel.
~Towelie
36 I agree completely. I want so badly to have been whoever pulled that fantastic play for Porsche
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
how much of the $30 billion loss was GL part of?
http://www.weeklyta.blogspot.com
@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!
I love you all.
do all you pretenders still make fun of meridith Whitney or however you spell her name?
Love,
Retired before 40 retail guy
R29J7L Thanks-a-mundo for the post.Much thanks again. Awesome.