German billionaire commits suicide over finacial crisis

[Epic Fail]

bloomberg

Was ranked 36th by Forbes with $12B.

 

[Nik]

That's quite the news story ya found there.

 

[LS21]

guy was near dead anyway

 

[KLin]

Originally posted by: Nik
That's quite the news story ya found there.

Kind of rare when a former billionaire kills himself.

 

[AstroManLuca]

Aww poor baby.

 

[SSSnail]

Topic Title: German billionaire commits suicide over finacial crisis

Poster: Epic Fail.

Somehow, I don't think you can match a better combination. WIN!

 

[Arkaign]

Originally posted by: SSSnail
Topic Title: German billionaire commits suicide over finacial crisis

Poster: Epic Fail.

Somehow, I don't think you can match a better combination. WIN!

Ha, I came here to post that, but you beat me to it. GG.

 

[mugs]

I can't say I feel sorry for a short seller who gets screwed. If he were murdered I'd feel bad for him.

 

[Q]

Article too confusing to read

 

[SSSnail]

Originally posted by: mugs
I can't say I feel sorry for a short seller who gets screwed. If he were murdered I'd feel bad for him.

This is why will I never short any funds in my life, ethically it's just wrong.

 

[JulesMaximus]

Yeah, being rich sucks...

 

[ebaycj]

Originally posted by: SSSnail

Originally posted by: mugs
I can't say I feel sorry for a short seller who gets screwed. If he were murdered I'd feel bad for him.

This is why will I never short any funds in my life, ethically it's just wrong.

Why is it wrong to bet that a company will underperform expectations ?

It is risky, yes, but not ethically wrong.

 

[SSSnail]

Originally posted by: ebaycj

Originally posted by: SSSnail

Originally posted by: mugs
I can't say I feel sorry for a short seller who gets screwed. If he were murdered I'd feel bad for him.

This is why will I never short any funds in my life, ethically it's just wrong.

Why is it wrong to bet that a company will underperform expectations ?

It is risky, yes, but not ethically wrong.

Yeah, nothing's wrong with that except if more and more people started to bet that a company cannot perform (now, this is purely speculations on the greedy SOBs), public confidence maybe swayed and people WILL believe the company is going down, then more and more will bet on the company going down, then no new investments, then people have money invested money pull out, then the company fails. I think I may have seen this somewhere very recently... hmm....

All for what? So a bunch of greedy fucks can make money off other people's actual work and hard earned dollars based on their mob speculations without losing anything? They can all die for all I care for.

In this case, Porsche was smart enough to fuck a few shorters over, which is poetic justice IMO.

 

[rh71]

gambled and lost? *shrug*

 

[Descartes]

There is serious fail when it comes to understanding short selling on ATOT. It seems no one has a grasp of it other than what they've read in the media.

That said, the erosion of his wealth was pretty dramatic. Most of us have had hits to our investments, but I can't imagine how he must have felt.

 

[Special K]

Originally posted by: Descartes
There is serious fail when it comes to understanding short selling on ATOT. It seems no one has a grasp of it other than what they've read in the media.

That said, the erosion of his wealth was pretty dramatic. Most of us have had hits to our investments, but I can't imagine how he must have felt.

Can you elaborate on the short selling comment? What about it has been left out or misrepresented in the media or on ATOT?

 

[SSSnail]

If you want to bet on a company going down, do it through a bookie. At least that how it's ought to be, prices will correct themselves, panic will take a long time to settle. Especially when some big name is shorting a company. Didn't the Great Depression started with rumors as well?

Perhaps I've failed at understanding short selling (borrow, sell with promise to buy back...), care to educate?

 

[Mill]

He got caught in a massive short squeeze on VW. In fact, the German Government was investigating what happened right after it all went down. Not sure what the results were but some people felt it was fishy.

 

[Descartes]

Originally posted by: Special K

Originally posted by: Descartes
There is serious fail when it comes to understanding short selling on ATOT. It seems no one has a grasp of it other than what they've read in the media.

That said, the erosion of his wealth was pretty dramatic. Most of us have had hits to our investments, but I can't imagine how he must have felt.

Can you elaborate on the short selling comment? What about it has been left out or misrepresented in the media or on ATOT?

I'm referring to the histrionics that seem to constantly surround anything related to going short, often failing to make distinctions between obviously nefarious short-selling practices, etc.

The media has sensationalized it, made examples of the few and neglected the rest. Nothing new in that respect I guess.

 

[Azurik]

Originally posted by: Descartes

Originally posted by: Special K

Originally posted by: Descartes
There is serious fail when it comes to understanding short selling on ATOT. It seems no one has a grasp of it other than what they've read in the media.

That said, the erosion of his wealth was pretty dramatic. Most of us have had hits to our investments, but I can't imagine how he must have felt.

Can you elaborate on the short selling comment? What about it has been left out or misrepresented in the media or on ATOT?

I'm referring to the histrionics that seem to constantly surround anything related to going short, often failing to make distinctions between obviously nefarious short-selling practices, etc.

The media has sensationalized it, made examples of the few and neglected the rest. Nothing new in that respect I guess.

I have no problems with short-selling. In fact, I think it's a healthy part of the market. I do, however, have a problem with naked short selling. That is manipulative. They need to permanently restore the uptick rule too.

You opened a can of worms... I'm stopping before I get out of breath.

 

[SSSnail]

Don't get me started on naked short selling... "Can I borrow your p*ssy? I'll return it washed and as new".

 

[JMapleton]

It's quite sad when someone would become so obsessed with money that they would take their own life over it, but it's even worst when someone with no money fails to see the larger picture of this man's mental obsession/plight and fail to sympathize with his problem but instead cast any sympathy away and having jealousy cloud sympathy.

 

[Gothgar]

Originally posted by: SSSnail
Topic Title: German billionaire commits suicide over finacial crisis

Poster: Epic Fail.

Somehow, I don't think you can match a better combination. WIN!

:laugh:

 

[LegendKiller]

Originally posted by: Azurik

Originally posted by: Descartes

Originally posted by: Special K

Originally posted by: Descartes
There is serious fail when it comes to understanding short selling on ATOT. It seems no one has a grasp of it other than what they've read in the media.

That said, the erosion of his wealth was pretty dramatic. Most of us have had hits to our investments, but I can't imagine how he must have felt.

Can you elaborate on the short selling comment? What about it has been left out or misrepresented in the media or on ATOT?

I'm referring to the histrionics that seem to constantly surround anything related to going short, often failing to make distinctions between obviously nefarious short-selling practices, etc.

The media has sensationalized it, made examples of the few and neglected the rest. Nothing new in that respect I guess.

I have no problems with short-selling. In fact, I think it's a healthy part of the market. I do, however, have a problem with naked short selling. That is manipulative. They need to permanently restore the uptick rule too.

You opened a can of worms... I'm stopping before I get out of breath.

Stocks are about the only asset in the world you can "short". Yet, somehow, every other asset in the world has a seemingly more efficient market that isn't nearly as prone to inefficiencies. How many bubbles has the stock market gone through and this is the *first* widespread housing bubble? How could that be possible?

The simple answer is this. Short selling does absolutely nothing to aid in price discovery. It's merely a way to profit from negativity. People depend on it to make a living because they want to profit from the negativity.

The opposite of buying assets is selling assets you own, nor NOT BUYING ASSETS YOU DON'T OWN. Simple economics tells you this. Supply vs demand. It's not supply vs negative demand artificially created by borrowing demand and selling it.

Personally, I am getting pretty tired of the defense of short selling.

Personally, I'm glad Porsche did this to the shorts. Those who say that it hurt the German capital markets are crying foul over a game they are manipulating but were manipulated in return. Fuck 'em.

 

[Cuda1447]

Originally posted by: JMapleton
It's quite sad when someone would become so obsessed with money that they would take their own life over it, but it's even worst when someone with no money fails to see the larger picture of this man's mental obsession/plight and fail to sympathize with his problem but instead cast any sympathy away and having jealousy cloud sympathy.

Thats quite the philosophical brain you have there.