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Tuesday, March 31, 2009
Porsche Capital LP Gets The Nitrous Boost
The world's most profitable hedge fund, which also makes luxury cars on the side, just reported its H1 2009 results. Porsche, which generated a total of 6 month revenue from car sales of roughly EUR 3 billion, made more than double that, or EUR 6.8 billion, through the company's hedge fund which executed the most clockwork-like and illegal short squeeze in recorded history. In the linked filing, the total amount of hedge fund carnage recorded in those october days is presented on page 5. Too bad the update does not come with a subscription agreement: maybe the hedge funds that got blown away by BAFIN and POR can put what money they have left in the Carrera maker.
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9 comments:
The hedgies got downgraded into Boxsters, no Carreras for them.
Tyler why no update on GGP today. Seems like you only like to post negative articles on this one. Would appreciate your opinion on todays news.
Larry Summers: CDO Salesmen for DE Shaw
!!!
Larry Summers is rumored to have been selling mortgage-backed securities for DE Shaw to sovereign wealth funds and foreign banks, including after credit hedge funds started failing.
http://blog.atimes.net/?p=552
"According to sources who attended meetings with him, Summers traveled to Asia during July 2007 with a pitchbook recommending the AAA-rated tranches of collateralized debt obligations to Asian sovereign funds and financial institutions, in his capacity as a Managing Director of the hedge fund D.E. Shaw."
World's best run and most profitable Aryan fund = Porsche.
I suspect that neither myself nor Zero Hedge would ever condone illegal stock price manipulation.
That said, forgive me Lord for not feeling a single shred of sympathy for the short selling hedge fund titans who got caught on the wrong side of the Volkswagen "trade".
If the hedge funds were willing to come in from the deep dark shadows of their unregulated existence then maybe that can have real protection from this sort of thing - until then, if you want to play in the big leagues, you better be willing to play hurt (and refrain from complaining about hedge fund tactics used against you . . . . ).
I don't think the hedge funds are asking for your sympathy - in fact, think one of the more well-know hedge-funds that got caught the wrong way in this trade actually mentioned that "There's no tears in baseball." Pretty tough way to take a loss though...
BTW, Tyler, am I missing something? You mention that "In the filing presented below..." - where is the ink to this filing?
good point, it crashed scribd when i tried to post it, so just linking up to it. plus everyone seems to hate scribd anyway
fyi...your rss feed isn't updating (at least not for the past two days...xml via IE 7)
I like to watch on Porsche cars. But , I do not drive any of that superb killing machine :P
Good day.
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