Volkswagen

Developing story: German Government adviser says Porsche should sell some VW (VOW GY) shares to raise cash.

Disclosure: no holdings of volkswagen or porsche securities.

Glenview steps up to the Citi, BofA, JPM etc. plate and announces it also has "begun the year in a profitable fashion." Too bad there is no public stock to generate a short squeeze.

Larry, Bottom Line it For Me

We recognize that many of you, while you appreciate the completeness of the disclosure, just want the punch line.
Here it is:

1. We believe the majority of our losses will be recouped in the same securities we lost money in, as those securities rebound towards fair value.

(Please read update 4 for very important additional information)

Luxury automaker Porsche, which in October briefly became the world's largest hedge fund after it disclosed stock and derivative holdings in fellow car maker Volkswagen, prompting a massive short squeeze, and propelling Volkswagen to the status of largest company in the world by market capitalization, may be in some deep trouble after brand new disclosures by Porsche CFO Holger Härter.

In his 2008 self evaluation letter, Richard Perry notes all the mistakes that the markets did last year in not agreeing with his assessment of what sound investments are. Notable among them is the short squeeze in Volkswagen shares, which the 1 Sutton Place resident attributes as the main cause to his -26.8% performance in 2008.