betting against VW costs $38b

In the most eloquent of ways, Porsche thanks short sellers for driving down the cost of VW shares, whom they have been slowly acquiring.

Schadenfreude was not the driver of that car, basic economics was. When the value of an asset drops below fair market value, someone will step up to the plate and buy. I feel as much pity for those short sellers as they felt for me when the value of my shares declined. Which is to say, none at all. 🙂