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.