I like it , i like any movie about trading , but this one reflects a true story which ended painfully for this trader , he lost his wife job respect , jailed , and above all this he had cancer at the jail plus he caused Barings bank to collapse all of this because of his trading mistakes , greed , high leverage , adding to losers " averaging down" , i really felt with him , good movie , although there is some weak scenes in the film like in the pit for example there is a scene you see brokers running all around the pit like children, it doesnt reflect the real pit .
I, Nicholas Leeson, have just lost 50 million quid, in one day!
A film which I greatly njoyed and was most intrigued to watch how a single man, NICK LEESON, brought down a bank the size of Barings.The film shows just how he managed to bring dowm the Bank with no questions asked and how free he was to do as he pleased and no Auditors or even his bosses asked him how he made so much profit working at Futures and Options in Singapore.His staff was undertrained and did not really no what they were really doing.The film is very fascinating and people who either work on or are interested in the Stock Exchange will enjoy it
Thanks to the star's performance we are tempted to be on his side from the beginning, which is a strange feeling as in the public eye he was portrayed as a villain for years.
Initially, at least, he seems to have done what he did to try to protect a member of his team from the consequences of her mistakes. And then it got out of hand. Personal greed does not appear to have entered into it.
As well as the open pit outcry trading that is now largely gone, we see a world of gentleman bankers (and snobs) which has also largely gone (well, not the snobbery perhaps).
If not greed, we certainly see plenty of fear on display, so it could be an object lesson for traders.
Not much I can say about the film itself that hasn't already been covered. But worth checking out for the pit scenes alone. They're pretty true to life (at least as far as my limited experiences on the Liffe floor on the late 90s goes), and indeed most of the extras were pulled from that very floor.
The film itself follows almost to the letter Leeson's own account of events, and as such is naturally going to have a certain slant on it. But worth the rental price for a look at a world (pit based trading) that many members of the T2W community will not get to experience any other way.
according to all criteria Leeson was amateur trader (bad one). There is no single skill that can approve that he was professional. What is fascinating (if) is how ignorant and pompous those financial institutions can be. It can only teach us, trust really nobody, however high his rank is, but only yourself and waht you see on chart.
I love this film because it reminds me exactly the of emotions of greed and fear that a trader has to go through and handle in his career. The feelings of elation as the Nikkei closes at 19000 when Leeson makes back all his losses and then some and the sick feeling in his stomach as he looks himself in the bathroom mirror on the day he has lost over $50m in one day are particularly poignant! I really do believe that a trader who wants to become a long-distance runner has to experience the totally sick feeling of losing more than 50% of their account at LEAST once before they learn respect for the markets and stringent money management. Me, I had to lose more than 75% of my account 3 times.
I reckon the 2nd hardest thing to control is the elation of winning and the overconfidence it creates. I have been crushed by overconfidence just as many times as I have nearly lost all my money!
while since I saw this film, but from what I recall this film is a bit dated now - check out the brick mobile phones! and the story is a bit dry in spots, but generally its quite well put together and interesting.
There is one part before the whole thing blows up for him where Nick is coming to peices and he's sat discussing his losses with his friend and the guy is just shaking from stress.. pretty realistic, I could relate to that if I'd just lost a billion!