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"We knew there would be a bloodbath as soon as the market opened," said the trader. "We knew the price would rocket, widening the exposure of lots of hedge funds – they would be offering their daughters in return for the stock, just to get out of it."
The scramble for shares meant that shareholders could name their price, and VW stock went from 210 euros to more than 1,000 euros in two days, making VW, at one point on Tuesday, the world's most valuable company at £240 billion.
Meanwhile, the fund managers who hadn't managed to buy enough shares to settle their accounts watched with horror as their losses spiralled out of control. Some of the bigger funds are thought to have lost as much as £4 billion.
Originally posted by fleabit
I'm just sort of used to this now. Because for some reason, many folks here *want* there to be a crisis. They want stocks to crash, markets to tumble, martial law to be implemented, and so on. It would thrill them to no end. Why?
Who knows... either they don't want all that food they stocked up on to go to waste, or they are dying to play the "omg I told you so!" card. Or they like many humans, just like the "excitement" of a disaster. People don't like the humdrum.. they like stuff shaken up, even if it's at the cost of suffering. They don't care.. they need their "fix" of sorts.
I'm sure we'll continue to see the gloom and doom threads weekly, and if something doesn't come to pass, it will be waved off as some super-secret group or government agenda.