Devils (2020)

Trader's Film Library #73 · Drama series. A thriller about a London trader in the middle of the eurozone crisis.

Original title: Devils (Diavoli) · Type: series (2 seasons, 2020–2022) · Created by: based on the novel by Guido Maria Brera; directed by Nick Hurran, Jan Maria Michelini · Usefulness for traders: ★★★☆☆

What it's about

Massimo Ruggero (Alessandro Borghi) is head of trading at the London bank New York – London Investment Bank, and his mentor and boss is Dominic Morgan (Patrick Dempsey). The first season is set in 2011, during the eurozone debt crisis. Massimo discovers that more is at stake than his desk's P&L. The series is based on the novel by Guido Maria Brera, himself a fund manager.

What it has to do with markets

The series shows trading in sovereign debt, bond spreads and how big banks can profit from a crisis and even deepen it. There's a lot of simplification, but you can see well how politics and macro data can reshape the market within hours.

Lessons for traders

• political and macro events can reshape the market within hours: know the release calendar
• a bond spread is a thermometer of fear about a country or a company
• loyalty to a mentor is no substitute for your own risk assessment (authority bias, Atlas of biases #30)

What to watch out for

A thriller with a strong conspiracy plot in which a bank steers politics. Treat it as fiction, not a description of how the market works.

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.