That short squeeze plus missing out on the rally is going to make 2008 a really bad year for Steve! 
Any guesses on how much SAC lost on the Volkswagen trade?
Any guesses on how much SAC lost on the Volkswagen trade?
How much did SAC lose on Volkswagen?
- Thread starter mingsphinx
- Start date
rumor is stevie the wonder boy blew up.
winding down and went to cash for margin calls.
winding down and went to cash for margin calls.
To say that SAC blew up is a little rich but most hedge funds have probably under reported their losses. Many funds are still marking to model on their ABS assets and who knows how they have been valuing their exotic portfolio. On top of the assets that have been trapped by Lehman¡¯s bankruptcy, if markets start to move higher, the wonder boys are in for a really nasty year.
Billions can evaporate very quickly, just look at the Hunt brothers. The ether has been filled with chatter of how much people have lost. If Picken's BP capital is any measure, just the trade in crude futures alone would have resulted in quite a licking for most if not all the major funds. This thing with Volkswagen could not have come at a worst possible time.
Go DOJ!I doubt any one here is "jelous" (sic)
Cohen wasn't paying 1.00 per share in transaction fees because he loved his broker.