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The Best Wall Street Movies Of All Time

  
  Education
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Rogue Trader (1999)

In a sentence: Faster paced British version of “Wall Street.”

Plot: Based on the real-life story of Barings Bank trader Nick Leeson, Ewan McGregor does a surprisingly awesome job of emulating the British wunderkind down to his addiction to fruit candies. While a relatively unsuccessful movie at the box office, Rogue Trader is entertaining.

Trading Places (1983)

In a sentence: No movie about Wall Street is funnier than the 1983 comedy “Trading Places.”
Plot: Eddie Murphy and Dan Akroyd are at their best as director John Landis tells the tale of how one man’s fall from Wall Street is another man’s blessing. Watching Murphy talk about futures and markets is hilarious and unparalleled in humor.

Wall Street (1987)

In a sentence: The classic Wall Street film.
Plot: Oliver Stone originally set out to depict the greed associated with Wall Street in the 1980s. Little did he know, it would go on to become one of the finest pieces of financial cinema ever created. Traders still go nuts for this movie and everyone loves Michael Douglas’ character Gordan Gekko, who is modeled partly after Michael Milken and Ivan Boesky. (more…)

Leeson: Rogue trader culture is more rife than ever

  
Economy, Education
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Nick Leeson, the original rogue trader whose actions led to the collapse of the venerable Barings Bank and to a six-year prison sentence, yesterday warned that the culture of the City has spun out of control.

With banks reeling from numerous scandals and the London financial district under intense pressure to reform itself, Mr Leeson said that unless punishments are increased traders will continue to run amok.

“Rogue trading is on the increase. The latest scandals are just a sign that the culture is running riot without any checks in place.

“Every day you wake up and see something different,” he told The Independent. (more…)

Trading Without Ego

  
  Education
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Make no mistake about it. A trader’s self concept has to be separate from the trading. Who you are as a person began before you ever thought of trading and who you will be as a person will extend beyond your trading. When personal self-worth entwines with trading, it not only damages self esteem, it sabotages the trading.

You hear about it. You read about it. Don’t be misled. Traders tell stories. They write stories. They tell how great they are. Big trades. Big numbers. Big egos. Hubris. And sooner or later, big downfalls. It goes with the territory.

Consider the outsized egos of certain traders who brought themselves and those associated with them to ruin. Nicholas Leeson brought down the Barings Bank. Victor Niederhoffer ran his fund into deficit. John Merriweather threatened the health of our banking system by betting more than fifty times his capital that his strategies were certain to work, that he could forecast with impunity the direction of various bond markets. There’s a pattern here of seeming or real success for a while and then collapse for themselves and for those caught up in blindly following them. (more…)

How Leeson broke the bank -Must read

  
  Education
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It was the 1980s. Traders were young and greed was good. Nick Leeson, a working class lad from Watford, the son of a plasterer, was chuffed to land a job in the purportedly-glamorous world of the City of London in 1982.It was a relatively low-grade job, but he quickly made a name for himself. He worked his way up, becoming a whiz-kid in the hardworking atmosphere of the far eastern currency markets.
Soon, he was Barings Bank’s star Singapore trader, bringing substantial profits from the Singapore International Monetary Exchange. By 1993, a year after his arrival in Asia, Leeson had made more than £10m – about 10% of Barings’s total profit for that year.In his autobiography Rogue Trader, Leeson said the ethos at Barings was simple: “We were all driven to make profits, profits, and more profits … I was the rising star.”He and his wife Lisa enjoyed a life of luxury that the money brought.
He earned a bonus of £130,000 on his salary of £50,000
Nickleeson
Nicholas Leesson ,the trader who brought down the Barings Bankbarings_bank_logo in Februrary ,1995 ,is a made to order example of the business of not facing up to a loss ad getting out.He’s also a perfect example of the dangers of adding to a losing postioin in hopes of digging your way out.The Barings Bank was the bank that lent the United States the money to make the Louisiana Purchase.When Nicholas Lesson finished his trading for the bank ,Barings was sold for the equivalent of $ 1.40. (more…)

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