Banksters (2020)

Trader's Film Library #28 · Markets and trading in fiction. A Polish story about how currency risk ended up with ordinary people.

Original title: Banksterzy · Type: film · Created by: Marcin Ziębiński · Usefulness for traders: ★★☆☆☆

What it's about

A bank employee gets a chance at promotion selling a new product: mortgages in Swiss francs. The film is inspired by the stories of Polish borrowers.

What it has to do with markets

The backdrop is a real currency-market event: in January 2015 the Swiss National Bank abandoned its minimum exchange rate for the franc against the euro, and the franc surged within minutes. Franc mortgage payments rose overnight.

Lessons for traders

• currency risk is risk, even if “it's been stable for years” (normalcy bias, the Encyclopedia)
• central bank decisions can change the market in minutes
• understand a product before you buy it

What to watch out for

The film has been criticised for oversimplification and populism. It's worth comparing with serious analyses of the 2015 franc shock.

Discussion

The discussion takes place in Hetman Capital Club (in Polish). Join the discussion in the Club →

Navigation

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The description outlines the plot without revealing the ending where possible (true stories have a known outcome). Educational content, not investment advice.