Interesting how quickly sentiments change. The FT and some other leading commentators have been busy trying to conjure up sympathy for the hedge funds caught in the scramble to cover their short positions in Volkswagen. They took a gamble, and lost. A classic short squeeze. Porsche’s pledge to settle options of up to 5% of Volkswagen shares to avert collapse of some of the threatened hedge funds should give those who have lost out at the hands of the very same funds similar licence for compensation. Only fair, right?