Adolf Merckle lost hundreds of millions of euros in the mother of all short squeezes in Volkswagen stock last October. He was short the stock. It went from 210 to 1000 in two days. His subsequent losses had a domino effect that threatened his entire empire. Forbes estimated his fortune at $9.2 billion in 2008. On Monday, he jumped in front of a train.
There will be more like him. On one hand, it seems bizarre. Even with a worst case scenario he’d still probably have many millions left over. But he was 74 and everything he’d worked for just blew up in his face. No doubt there have been many other suicides by people we never hear about, they lost a house and job, and just couldn’t go on.
But others, of course, pick up the pieces and somehow continue.
It’s getting nasty out there.