There is no telling who was on the short end of the stick, but rumor has it GS, Greenlight Capital, SAC Capital, Glenview Capital, Marshall Wace, Tiger Asia, Perry Capital and Highside Capital.
What is upsetting the hedge funds is that if between 10% and 15% of VW shares were on loan to be shorted and only just over 5% were available in the market, it is likely that many of the funds that shorted VW had borrowed the shares from Porsche.
It meant that because Porsche had not declared the proportion of VW shares it controlled, traders may have been indirectly and inadvertently borrowing shares from Porsche, selling them to Porsche, buying them back from Porsche and then returning them to Porsche.
Payback is a bitch.
Don’t mess with the Piech!
“A [so-called] “green” Prius uses hundreds of gallons of oil to manufacture, extract the iron, make the steel and plastic, etc. It takes more oil to manufacture a Prius than the vehicle will ever consume. If you want a Prius, buy a used one.” -Chas Hugh Smith