I read in the ever impressive and entertaining blog of BBC’s Robert Peston that Hedge Funds have taken a rather mighty kicking over VW in the last few days. When much of the ire (and now much of the fallout) has been directed at the murky financial behemoths over the last twelve months, it’s refreshing to see some short selling take them the other way for once.
In fact, it’s a staggering 18bn loss in just two days after speculating on Volkswagen. Germany, not known for its predeliction towards funds, will no doubt be chuckling to itself (as will many of the public) but it remains to be seen which funds have taken the hit. I’ll be keeping an eye on this. Some schadenfreude for once, amongst the gloom.