Adolf Merckle, the so-called German Warren Buffett who killed himself earlier this month, was a loser in the big Volkswagen short squeeze last year. But it might be a mistake to think of that as the beginning of his downfall. According to people who know him, it was more like the last straw. Already, the credit crisis had taken a serious toll on his businesses
NYT: One theory of why Mr. Merckle speculated in Volkswagen stock is that it may have been a last, bold bid to rescue the Merckle family empire, according to one person briefed on the subsequent negotiations with banks, who spoke only on condition of anonymity because of Mr. Merckle’s death.
“Either you are a gambler, or you are feeling a bit desperate and are trying to dig yourself out of a hole,” the person said. “And I don’t think he was a gambler.”
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