Billions (2016)

Trader's Film Library #54 · Drama series. A series about a hedge fund in which the most interesting character is the performance coach.

Original title: Billions · Type: series · Created by: Brian Koppelman, David Levien, Andrew Ross Sorkin · Usefulness for traders: ★★★★☆

What it's about

A duel between billionaire Bobby Axelrod (Damian Lewis), head of the fund Axe Capital, and prosecutor Chuck Rhoades (Paul Giamatti). Seven seasons of fighting for power, money and an edge.

What it has to do with markets

The series is surprisingly good at showing hedge fund culture: the search for an information edge, risk management, managers' egos. Especially interesting for a trader is Wendy Rhoades, the fund's psychiatrist and performance coach, who works with traders on emotions, tilt and confidence.

Lessons for traders

• a fund's performance coach is a real job: psychology is part of the edge (Psychology and the journal)
• the line between an edge and inside information is thin
• a manager's ego is a risk to the fund

What to watch out for

Heavily dramatised, with storylines far from reality. The episodes on market topics (e.g. “Short Squeeze”, “Risk Management”, “Dead Cat Bounce”) are the most interesting.

Discussion

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

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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.