Scam 1992: The Harshad Mehta Story (2020)

Trader's Film Library #42 · Drama series. India's answer to The Wolf of Wall Street, but better told.

Original title: Scam 1992: The Harshad Mehta Story · Type: series · Created by: Hansal Mehta · Usefulness for traders: ★★★★☆

What it's about

The true story of Harshad Mehta, a Bombay stockbroker who in the early 1990s fuelled a gigantic bull market on the Indian stock exchange by exploiting loopholes in the banking system. It's one of the highest-rated series in the history of Indian television.

What it has to do with markets

The series shows very well the mechanics of a bull market fuelled by money from outside the market, the cult of the “Big Bull” and the moment when a journalist's investigation reveals where the money was coming from.

Lessons for traders

• a bull market fuelled by borrowed money ends abruptly
• a personality cult in the market is a warning sign (the halo effect, Atlas of biases #29)
• the flow of money explains a price move better than a story does

What to watch out for

A Hindi-language series, long but gripping.

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.