In this video we go over the story of German billionaire Adolf Merckle. Merckle made his fortune in the in the pharmaceutical industry and eventually diversified into the cement industry. He borrowed billions of dollars to finance his stake in Heidelberg cement. When the company went tits up in 2008, he lost almost everything and suffered a margin call. In a desperate attempt to make back his fortune he made a final YOLO by shorting VW stock. Unfortunately, VW had a short squeeze causing him to lose even more money.

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