Porsche Breaks the Hedge Funds

Speaking of The Economist, they have a great summary of how Porsche more or less pantsed a bunch of hedge funds and stealthily took a controlling share of Volkswagen.

The story itself is interesting, but there’s a larger lesson. Common sense would suggest that it would be Volkswagen taking over Porsche, not the other way around. I see Volkswagens on the street everywhere; I sometimes go a week without seeing a single Porsche. But unit sales are not the goal of business, profit is — and Porsche’s is a more profitable business. (Insert your own analogy between Porsche and Apple here.)

β˜… Monday, 3 November 2008

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