No matter how hard I try, I still don't quite understand hedge funds.
According to an article in today's Economist (10/20/08), "hedge funds sold shares in VW that they did not own." From what I can tell, companies such as Morgan Stanley and Goldman Sachs and the likes might have "exposure" to VW. There is no telling, right?!
I guess if things were transparent, the general public might have a better idea of what is going on, and perhaps have a better chance of making better data-driven financial decisions. Right now, people are third-guessing. What a game the world has been playing!
From the article:
"Adam Jonas of Morgan Stanley warned clients on October 8th of the danger of playing “billionaire’s poker” by betting against Porsche."
That sounds about right.
Yes. Billionaire's Poker.
Porche and VW - Squeezy money: How Porsche fleeced hedge funds and roiled the world's financial markets
Thursday, October 30, 2008
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2 comments:
Just stumbled across this while doing research on hedge funds and VW stock. I have a video explaining hedge funds on my hedge fund blog here if it would interest you - http://richard-wilson.blogspot.com/2008/10/deephaven-capital-managment-llc-hedge.html
- Richard
Richard Wilson
HedgeFundBlogger.com
Thanks, Richard!
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