"The collapse of the world's oldest tour operator doesn't make only losers. Thomas Cook's competitors, first of all, benefited from a boost in the stock market.
But among the winners, there are also hedge funds and short sellers. This is one of the lessons of Thomas Cook's bankruptcy. The financial sector has not yet completely got rid of its old demons, far from it.
Has speculation pushed Thomas Cook into the precipice? Maybe not, but many speculators were waiting for the fall, this is obvious."
Read the article from rtbf, with the contribution of Frédéric Vrins, Professor of Finance at LSM and derivatives specialist.