siehe BBC: Hedge funds make £18bn loss on VW. Grundproblem: Porsche hält mittlerweile 72% der Aktien und das Land Niedersachsen 20%. Bleiben nur noch rund 5% an frei handelbaren Aktien. Nun? The panic buying was caused by traders who had short-sold VW shares desperately trying to buy them back so they could close their positions. Before Porsche’s announcement, many traders had been betting on VW’s shares falling. They had borrowed VW shares and sold them in the market, planning to buy them back when the shares had fallen, return them to the lender and pocket the difference. But what actually happened was that the shares rose as a result of Porsche’s effective takeover and the traders found themselves forced to buy the shares at any price… 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. Sprich, die können ihre Positionen einfach nicht wie geplant glattstellen, weil die ihre Wette ohne den Wirt gemacht hatten. Bin ich jetzt traurig, dass die flennen und böse sind? Nope, nicht mal ansatzweise.
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