This page has been archived and commenting is disabled.
Traders: Millions By The Minute - Part 2
In the second (and final) part of BBC's 'Traders: Millions By The Minute' 2-part documentary (part 1 here) goes inside the competitive world of financial traders to meet the men and women who play the markets in London, New York, Chicago and Amsterdam.
As The BBC describes, this show offers a rare, personal portrait of what life is like for the people who do this lucrative but relentless job, against a backdrop of non-stop news, globalised markets and the rise of ultra-fast computers capable of placing millions of trades at a time. We can only assume that Johnny-5 and his algorithmic friends refused to be part of this in-depth look at market participants.
Jane is not like the normal professional City trader as she also does the school run and works as a nurse.
Justyn and Akil are ambitious and believe that trading will be their ticket to a lavish lifestyle.
»
- 12436 reads
- Printer-friendly version
- Send to friend
- advertisements -
I'm starting to think Zeroshit is part of the Problem-Reaction-Solution with a whole lot of intellectual bullshit.
Sir, I sort of agree with you.
There's always the front door. At least you capitalized Zero this time in your repetitive drivel.
Those of us who have seen ZH go (largely) to the shitter don't need to be told about the door. What we want is our old ZH back, because there's nothing else like it. Apologize for the new Tylers all you want. They occasionally surprise with the old wisdom, but mostly it's become click bait while they bitch about sellouts.
Agreed, the broth has gotten a little watered-down lately. I had a discussion with Fonz about this recently. My idea which he (sort of) agreed with was basically an invitation-only version of ZH. Maybe a little money involved, maybe not.
Nobody gets in who isn't invited by somebody. If you suck, you get voted off the island. Whatever, but exclusivity is the catch. Tell people they can't get in and watch them fall all over eachother trying to get in.
Its just an idea. But we've all watched enough boards go downhill because spammers and click-baiters take saturate the place once it become popular, there's got to be a better way.
I should note that I'm WELL AWARE that I'm not smart enough to know what that way is, but I feel like it exists. There is NO WAY that the "every click is worth the same as every other click so get as many as you can" model makes sense, yet that's what clearly rules the world right now.
And in REAL news: http://rt.com/news/188332-mox-nuclear-fuel-production/
Nuke fuel can now be used to total depleteiton... After its depleted it can be moved out virtually by hand! Oh, and they want to start a war with Russia... hmmm
I don't know if I would be invited to the exclusive Zero Hedge, but I still think it's a darn good idea.
The problems with invites only is that you get an echo chamber, not that we don't have it now, but it would be much worse. Personally I miss voices like Flakemeister to give an opposing point of view. I thought he was a smart person, but if you looked at his down votes he would have been kicked off.
Likes vs. relevancy. Got to be some way to capture that. Take EKM, for example. I would probably up-vote his stuff only 20-25% of the time. I think he's just dead-wrong on a lot of things. But on a relevancy scale I'd put him up around 80%. Blend it, he stays, in my book. (This is an example, I'm not trying to pick on any particular person.)
Nothing would be perfect, but if there was some mechanism to ditch the worst of the incompetent and offensively wrong, even if a a fair number of "marginals" still skate by, it would have to be better than the current model. You can be unpopular, you can be irrelevant, but you can't be unpopular and irrelevant and stay. And the bar would be pretty high to boot somebody since everyone who gets in would be by invitation to begin with.
I don't know what the answer is. That's going to have to come from somebody much smarter than me. I do know things have to change or this site will fade off like MySpace... Or whateverthefuckitwascalled.
That echo chamber argument is the main argument for not working with invites.
The minute that system would apply, I'd quit. I'm not only here to ventilate or have some fun, but above all to learn from others. I state something, someone replies, often disagreeing, but in his or her reply there's sometimes the potential of acquiring a little more wisdom.
I like the reasoning about popularity and relevance, but good luck with translating that into something that actually works. I don't think it's doable.
I'm not apologizing for the Tyler's and I've been on record more than once for recognizing the fact that Tyler puts a bunch of click bait shit out there. Having said that, I'm not going to let a ten week troll come and talk bullshit either. If we want the old Hedge back it's going to have to come from us... Those who stick it out and demand better. And we are going to have to demand it, even if it means throwing in the towel and getting kicked out. Sooner or later a living being (if there are any left after 4:00) is going to have to recognize the fact that fewer voices are contributing.
Ahhh, who am I kidding? The Tyler's have left the building and the robots run the place now.
You guys actually read the articles?
I just scroll down and read your comments, and have been doing that since 2009, bitchez!
While I agree with the good Dr I think that would take signifiant effort and we (collectively) suffer from too much apathy for that to happen. In the meantime the braindrain continues (i am thinking here of those like Fonz)
Couldnt agree with you more. ZH was great when it first started but has gone to shit . If its not their 3+ articles per day on "ZOMG! Gold is manipulated by banksters!!", or some huckster sovereign man bullshit writing from argentina.....it all appeals to the simpletons who buy this shit.
If you cant see a problem with the previous story on here (5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives) written by the 'economic collapse blog" (LOL) then youre fucked buying all this drivel.
amen
That's the thing, isn't it?! I am but a lay-person. Still, I came here for the real details...not the watered down crap that you get every other place. It was my duty to read between the lines and investigate what the hell the content meant. In its current form, the site is no better than Bloomberg, CNN, or any number of sites it openly mocks. The content has been dumbed down for the masses.
Occasionally, there is a gem. It is less frequent.
This article, the one about fracing from a guy who knows nothing about fracing, and countless others are just plain crap that feed on emotions and predisposed bias for a certain POV. We have become the Drudge Report and I frequent this place less frequently than I once did. However, the sad truth remains that in spite of selling out, it is still as close to real information as the pleebs can get these days.
If anybody else has a better source they'd like to share, I am all ears!
Thanks,It's a work in progress.
The Workings Of The Shanghai International Gold Exchange, Part One
https://www.bullionstar.com/article/the%20workings%20of%20the%20shanghai...
Get real ohyes
Long treasuries.
Equities will not be going to zero but believing that a floor can be put in prices is about to be put to the test.
Hoping no newbie anywhere on this planet, takes the bait on this pathetic documentary.
Trading Places, way more interesting than this POS....!
Well said - I felt so bad for the mum from Devon who was seling her kittens for £2k only to start day trading with a bucketshop - we just all know how her account balance is going to end up.
Does anyone think the timing of this show is quite suspect trying to attract newbie retail traders just when the institutions are in desparate need of fresh meat??
What totally anazed me is despite all the rigging that has been reported over the last several years of LIBOR, gold and currency markets, there are still people that believe the markets are still markets based on fundamentals. Very sad and very scary. I highly doubt there will be a part 3. We all know how it will end for them.
I had to laugh as well at the so called 'experienced' UK traders on this and in part 1 who are obviously making their money by training noobies and pretending their actually profitable day traders. Yeah right show me your accounts...
If your new to this please understand if a small outfit is making money day trading they are NOT going to want any extra noobies in the office while they are trading - so be VERY careful about parting with any money to any company willing to train you.
*slowly rubs forehead at sheeple propaganda
ZH cant actually exists without a crisis to be capitalized on. So while the next 3000 point drop on the Dow don't come, just sit back relax and anjoy the BS.
ZH has existed since the 2009 lows. It's been a bad 5 years to be a truth-teller in an epoch of lies and counterfeit money. What they weren't counting on when they started the board was that the entire concept of free markets and money would be made a mockery in the pursuit of asset reflation. Doom Porn sites have existed before ZH, yet few as popular. Someday they'll all be proven right (ZH had broken many stories exposing the fraud and corruption that exists well ahead of anyone else- honest day's work for honest, sceptical journalists). But again, what they weren't expecting that nobody would care about that corruption (nor do anything meaningful about it) once it was uncovered.
Long way around the barn to say that ZH isn't going to get super-popular or be able to do internet victory laps even if the Dow does drop 3000 points tomorrow. The entire concept of markets has been broken and discredited. What victory is there left commenting on that world, whether right or wrong?
Very well stated.
I was just commenting to a colleague this afternoon that it is amazing that for six years and running savers have earned zero and every bond portfolio of reasonable duration has now rolled off and it is earning close to zero, yet not a peep. The government reallocated the income of fixed-income investors and savers to itself and corporations without as much as a peep of protest. And it just continues.
Yet, as you stated, it wasn't in anyone's realm of possibility that this would happen. Who would imagine interest rates in the US would be zero for the better part of a decade. Hell, by the time it's over it may be well over a decade.
The anger expressed at ZH is just a sign of the frustration with a market that continues to increase in value at rates far beyond those of the underlying economic reality. We all know the day of reckoning is coming at some point down the line, but with money continuing to be free and continuing to be printed all over the world, it's hard to know when. What we do know is that if it were as easy as just printing money to solve all the worlds problems it would've been done for thousands of years now. There is no free lunch.
Ohh!! Come on, lets not over intellectualize it. People are bashing ZH because of crappy articles. And the crappy articles are effects of the lack of apocalyptic events. All the permabears are suffering. As a new bull market progresses they will endure a long hibernation or get extinct.
Think it's a bubble yet? Lots of people resources misallocated into doing nothing productive.
I like Zeroshit but it has been compromised and become just a muddle for the brain.For me my journey of truth seeking has gone on for 18 years.And i think where all afraid because it has become that bad and we know what really has to be done but where all comfortably numb.If your not afraid of what's coming you fuckin should be.
I am surprised by the nearly unanimous negative reaction toward Zero Hedge for posting this BBC program among those who have made comments here. Based upon personal experience at several levels of trading portrayed here, I think that the BBC did a credible job. The critical and most exciting elements of trading that the program omitted are those of the floor traders on the NYSE and the marketmakers on the NASDAQ.
True, ZH has had a very negative bias toward economists, financiers, politicians, and the markets in general. If we were depending upon ZH for superior investment guidance, then we were wrong to do so, because the markets have just been too good to be believed during all this time.
But the quality of reporting by ZH, and the perspectives conveyed by the writers whose articles are posted, have generally been excellent. There has been no change to my impression of ZH over the 3 years that I have been reading it.
I like ZH, plenty of good articles, points of view etc. Are some articles not woirth reading, sure, but that's no different from your favourite newspaper. Probably only those in solitary confinement read the whole paper.
I'm newish here, so what was the old ZH like that many are pining for?
Maybe I'm an ignorant but the only not corrupted information I can find on the web about finance, monetary policy and banking is here. ZH has been relevant, clear and constant in its criticts.
I've learned lot of shits here. For instance, in my country, France, you'll never find such a well documented website about those subjects.
Merci ZH!
you-all have only yourselves to blame. doom porn posts get hundreds of comments, financial discussions get a few dozen at most. besides, the "market" started dying in 1987 and we all know that it is currently deceased so what the hell.
Watched part 1 the week before by mistake after markets closed. Avoided watching part 2 as I instinctively figured it would be even more ludicrously filled with bullshit.
Operation "Retail Bagholders" is now almost complete.
OH SHit!!! Trader has CNN feed!!!! What a brokers "Gobles" propaganda....
End of the programme they showed how everyone was losing money. The disabled person, old people, frumpy mum - people which nobody would aspire to.
Only one who was portrayed to be making money - Iron man dude with porsche, hot wife, nice house, in his 30's. Hmmmmmmm
Part 2 of the endless, pathetic bullshit of people who fit the meme of "Trading Places". Gosh, I didn't know I was supposed to be like this; I better change my ways and act like the morons portrayed here to be a "real" trader. I wanna puke.
www.traderzoo.mobi
If not for ZH, I don't think I'd have a clue about what is really going on in Ukraine, the ME, Russia, Europe, etc. It's one of a small handful of "go-to" sites that I look at regularly. ZH has been diluted somewhat. That's as sure as the fact that the BBC piece is meant to entice fresh blood into the water. I exited the "markets" almost 3 years ago and bought 2 townhouses to rent out. I'm so much more at peace and less anxious than I've been in my adult life because of that. All I want now is the undiluted truth and ZH comes as close to that as anyone else out there that I know of. FWIW, I also appreciate the work of Infowars and Naturalnews. I'd love to hear some alternative suggestions from everyone who is just griping about ZH.