Porsche’s move took three years of careful maneuvering. It was darkly brilliant, a wealth transfer ingeniously conceived like few we’ve ever seen. Betting the right way, Porsche roiled the financial markets and took the hedge funds for a fortune.

Betting the wrong way, Adolf Merckle took his life.

A very readable explanation of a winner-takes-all poker game, where a number of hedge funds got taken by Porsche. How strategically played by Porsche may not be known for many years, but hedge funds bet like mad against them … and lost all.

ivan krstić · code culture » How Porsche hacked the financial system and made a killing

(via tedr)

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