I’ve been intrigued by a show on BBC2, Million Dollar Traders, where eight people are given a million dollar hedge fund to play with, a couple of weeks training and then let loose on the ‘market’ to do their best.
A couple of the expected high-flyers, on paper at least, have shown to be truly awful. The pensioner who dabbled with shares and fancied a new life as a trader has an uncanny knack of being able to back certain loosers with amazing accuracy and is loosing money hand over fist. The super graduate who had a great analytical grasp of the market lost her bottle when her first trade nose-dived and has since not traded anything being too nervous of loosing her money.
Last night’s second show raised the interesting topic of ethics. One guy is trying to trade 100% ethically, another is seeing that dealing in arms and military companies is proving very profitable. The question raised by the ethical guy was is just because a trade is ‘legal’ and government approved does it mean it’s ethical? Is everything fair game in the sole pursuit of profit? Interesting stuff.
One guy hoped that by getting an ‘insiders’ view of being a trader, he’d change his mind about them, but he’s found that it’s only hardened his views still further about his distaste of people making money on the back of other peoples suffering purely in the search for profit.
Have a great day guys.