It is surprising how few people got the joke...
The hedge fund trade was long Porsche, short Volkswagen.
Porsche after all owns many times its market cap in VW shares so the trade was obvious...
This has been a disastrous trade. Plenty of hedge funds got hurt bad. Most of them are still long Porsche.
When I suggested the only responsible trade was short Porshe I was teasing. A serious tease because Porshe is playing with fire and there are ways that Porsche could go bust. But it is not a position I would put on.
Calling it "the only responsible trade" was a tease. Pure and simple...
Sorry if it did not translate to print.
John Hempton