Jan 23, 2009 11:40:47 AM
- easy_rider911
- Rennteam VIP
- Loc: London , United Kingdom
- Posts: 22190, Gallery
- Registered on: Nov 8, 2004
Porsche profits
There was a very good 30 minute documentary programme on BBC2 last night about how Porsche made billions of Euros through secretly buying options to buy VW shares. It was made by the Money Programme and was called 'Fast Bucks: how Porsche made billions'.
http://news.bbc.co.uk/1/hi/business/7843262.stm
If you can watch it on iPlayer or from some other website, it's worth a look.
It basically explained how PAG outsmarted the investor community (especially the hedge funds) that engaged in short-selling VW shares. There is currently a BaFin investigation (the German financial services regulator) in progress as to whether this action in some way manipulated the market in VW shares.
It was interesting to learn how PAG made about Euros 1 billion in profits from manufacturing cars but made around Euros 6 billion from its involvement on the financial markets. Some commentators on the programme were saying that PAG now seems to be more like a hedge fund that happens to make cars!
Interesting stuff.
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997S GT Silver/Cocoa, -20mm/LSD, PSE, SportDesign rims, Zuffenhausen collection: I love this car!!!