TV Show: Million Dollar Traders
- Thread starter Businessman
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Quote from Cygnus Atratus:
Bloomberg alone would be an outlay of £24 000( 8 traders x 2 [8 weeks] x £1500/month) for the 8 weeks, don't think they would get that set up for a demo bucket shop account. Also Bloomberg does not need advertising on BBC, they use other suitable media. Remember we are British we do not fuck around, or pretend, thats why our teeth are natural and our women let nature grow to its full extent in those sweet places
seen bad teeth in UK.. i guess people dont like going to the dentist there.. with all the free medicine..
Ahhhhh here on our small island work within the financial services used to be a reserve for upper classes and minor royals, and as most firms used to be within the City of London (google ), saying a "city trader" is considered to be a badge of higher social standing. But times have moved on, hedgies are now around Mayfair, St James, Knightsbridge, Wimbledon. Some major players have over the years moved to a site /dock ( Canary Wharf) that used to be for prostitutes (lawyers) , drunkards (bankers) and pirates (traders)
anybody have access to "the city uncovered" on the bbc? it's supposed to be about financial engineering.
I'm from the UK and so have been keeping up with the show.... The BBC are doing a series of programs based on the City because of current events.
I havent seen all of the programs, but shows like "the city uncovered" aren't really anything to get excited about - most of the time it is the BBC's economic editor talking through the usual suspects - leverage, what an option is and BSM, and so on... nothing of interest to anyone in the industry "proper". They also throw in some examples - Nick Leeson and LTCM to name but a few (FWIW, the BBC have a habit of dumbing down issues so they can maintain the majority audience).
w.r.t "Million Dollar Traders"... yeah I think their trades are real, I know that their broker are Mint which is a very real house... I also think they must have been given some half decent training - for example, I have heard them talking about the VIX, which I guess your average SB punter isn't going to have the foggiest about.
Infact, one might go as far to say that it is an education for the retail market about how institutional investing might go on - certainly they are not pushing out the boundaries with covertible arbitrage or black box algo's, but volume wise, the proportion of the market that use an MACD crossover system or candlestick pattern is pretty thin. Keeping up with the environment, generating an idea, doing the sums and sticking a pair trade on is much more like institutional investing than an MA crossover.
The most interesting thing about the show, in my opinion, is that it is pretty good evidence that being: "booksmart", "a good trader", and a "wanker" are mutually exclusive - you can be one, all, or any combination.
If you can't get to see the show (or the series of City programs), you aren't missing much. It's more about bringing in viewers and cementing them by lambasting short sellers than anything worthwhile.
I havent seen all of the programs, but shows like "the city uncovered" aren't really anything to get excited about - most of the time it is the BBC's economic editor talking through the usual suspects - leverage, what an option is and BSM, and so on... nothing of interest to anyone in the industry "proper". They also throw in some examples - Nick Leeson and LTCM to name but a few (FWIW, the BBC have a habit of dumbing down issues so they can maintain the majority audience).
w.r.t "Million Dollar Traders"... yeah I think their trades are real, I know that their broker are Mint which is a very real house... I also think they must have been given some half decent training - for example, I have heard them talking about the VIX, which I guess your average SB punter isn't going to have the foggiest about.
Infact, one might go as far to say that it is an education for the retail market about how institutional investing might go on - certainly they are not pushing out the boundaries with covertible arbitrage or black box algo's, but volume wise, the proportion of the market that use an MACD crossover system or candlestick pattern is pretty thin. Keeping up with the environment, generating an idea, doing the sums and sticking a pair trade on is much more like institutional investing than an MA crossover.
The most interesting thing about the show, in my opinion, is that it is pretty good evidence that being: "booksmart", "a good trader", and a "wanker" are mutually exclusive - you can be one, all, or any combination.
If you can't get to see the show (or the series of City programs), you aren't missing much. It's more about bringing in viewers and cementing them by lambasting short sellers than anything worthwhile.