How much did SAC lose on Volkswagen?

Quote from flytiger:

http://www.deepcapture.com/verasun-energy-failures-to-deliver-vs-share-price/#comment-91755

Read this. 500 jobs, gone, and it took two years of raids to do it.

Tell me I should feel sorry for SAC or Einhorn.
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how are shorts to blame for this management decision:
VeraSun, facing a liquidity crisis last month, retained Morgan Stanley to help it evaluate "strategic alternatives" that could involve anything from a buyout to a partial sale of assets. The company found itself short of cash after it locked in corn at higher-than-market prices. VeraSun converts corn into fuel.
 
Quote from mingsphinx:

Billions can evaporate very quickly, just look at the Hunt brothers...
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Look at Sheldon Adelson. 30 billion to 1 billion in 12 months.

That's riiiich, biiitch!!!
 
Quote from Topsurfi:

Porsche will be sued of market manipulation and they will have to pay lots of billions to the hedgefonds that suffered.
The next big looser in this game will be Porsche.
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What market manipulation? Porsche made a brilliant move, at an opportune time. The fact that their announcement had shorts trampling each other is hardly a fault of Porshe.

If the shorts were over leveraged or made a big bet, well, that's the biz.

For individuals and companies who have cash to put to work, you can expect a lot more of these scenarios to unfold in the near future.

More power to them.

I don't think it takes a Stevie Cohen to realize that at these market levels, holding serious shorts looking for more downside is a high risk bet.
 
Quote from mingsphinx:

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.
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Where does the money go?
 
Quote from lindq:
What market manipulation? Porsche made a brilliant move, at an opportune time. The fact that their announcement had shorts trampling each other is hardly a fault of Porshe.
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its insider trading. They CAUSED the short squeeze by their announcment to own more options than previously said and NOW they profit from this by buying back a 5% stake with a HUGE profit. If they would have just collected the stocks and kept them it would have been OK.
It fullfills every aspect of market manipulation and insider trading and Bafin is investigating already. Porsche will be screwed. I think this was the first big mistake from Wiedeking with fatal consequences for Porsche. It will take a few weeks until people will take notice of the enormous consequences but finally Porsche will pay.
 
We are talking about German law.

We are talking about 10 b 5 type disclosures in the U.S. -- perhaps germany has no such law.

The first thing a big shorter does is check the available float and institutional holdings. (Guys in my old office had once worked on desks for big shorters - this is not rocket science - they are all scared of short squeezes.)

The next thing they should do is figure out if there is some way they could get screwed by bad info or assumptions.

That question should lead to wondering what the disclosure law in germany requires.
 
Quote from Topsurfi:

its insider trading. They CAUSED the short squeeze by their announcment to own more options than previously said and NOW they profit from this by buying back a 5% stake with a HUGE profit. If they would have just collected the stocks and kept them it would have been OK.
It fullfills every aspect of market manipulation and insider trading and Bafin is investigating already. Porsche will be screwed. I think this was the first big mistake from Wiedeking with fatal consequences for Porsche. It will take a few weeks until people will take notice of the enormous consequences but finally Porsche will pay.
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nothing will happen to Porsche.

If you were naked short, you deserve to be screwed royally. And then put in jail.
 
Quote from Topsurfi:

its insider trading. They CAUSED the short squeeze by their announcment to own more options than previously said and NOW they profit from this by buying back a 5% stake with a HUGE profit. If they would have just collected the stocks and kept them it would have been OK.
It fullfills every aspect of market manipulation and insider trading and Bafin is investigating already. Porsche will be screwed. I think this was the first big mistake from Wiedeking with fatal consequences for Porsche. It will take a few weeks until people will take notice of the enormous consequences but finally Porsche will pay.
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I'd put my money on nothing happening to Porsche...
 
Quote from lindq:

What market manipulation? Porsche made a brilliant move, at an opportune time. The fact that their announcement had shorts trampling each other is hardly a fault of Porshe.

If the shorts were over leveraged or made a big bet, well, that's the biz.

For individuals and companies who have cash to put to work, you can expect a lot more of these scenarios to unfold in the near future.

More power to them.

I don't think it takes a Stevie Cohen to realize that at these market levels, holding serious shorts looking for more downside is a high risk bet.
More...

Well said! Indeed a brilliant move by Porsche.
 
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