Wednesday, October 29, 2008

Porsche Sticks It To Em'

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/10/hedge_funds_and_vw_what_a_pile.html

This is cool if you can follow the thread. All these Hedge Fund a-holes who do nothing but make money by betting on a stock going up or down were screwed after they made a bunch of "short sales" (look it up) and then Porsche stepped in and bought up a bunch of VW.

The Hedge guys were scrambling to reduce losses because the stock went up! A lot. A nice kick in the pants to these financial pansies who deal in nothing but thin air and speculation all day. We need a better way to value the assets of the world, and all of these financial people can take the jobs vacated when we deport the illegals.

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