I watched Margin Call a long time ago before I understood anything about 2008 or finance in general. I thought it was so boring and confusing.
I watched Margin Call last night. Easily the best finance related movie. Way better than The Big Short.
Prove me wrong.
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Margin Call is boring, Big Short is not.
absolute trash film
For a movie about the financial collapse, there's like 30 whole seconds of content in the entire thing that actually makes an attempt to explain the forces at play behind the crash. Other than that, it's just an endless procession of stuffed suits looking constipated in board rooms.
Literally kys that movie fucking sucked they never even show what he saw 3/10 Uber shit
It's not supposed to be a documentary. They clearly explain how exposed they were MBSs which would bankrupt them. The point of the movie is to show how the firm deals with impending doom, which was interesting as fuck to see.
Great film but both are good.
Margin call is a masterpiece of a movie AND so far the best movie at depicting what it's like in a market room and to interact with management. (I actually worked in a top 10 bank -French, start with a B- for some time before quitting to create my own startup).
Some thing that brainlets might have missed.
>You NEVER see the face of a non finance related persons
>Spacey character is seen falling asleep at the beginning of the movie, then in the middle suddenly waking up
>When the CEO say that the music stop, the music stop. For the rest of the movie.
>You never get to look at any screen in detail
Best Quotes :
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Things that are wrong :
>Bloomberg is orange, not blue
>People lock their monitors before going home
Overall the message of Margin call is extremely on point and shared by most traders I talked to (I had a very technical job, which made me kinda separate to the normal hiearchy of such bank) :
>It's all bullshit, electronic numbers. A video game. Completely disconnected for the real world.
>Normal people don't make money in Finance. It's the house and the traders.
>Without finance, there is no fundamental reason for a barrista in the us to be paid 10 time as much as an engineer in india.
Watched both of these recently
tonight I have been listening to Ross Perot youtube.com
Any anons have recs for Yas Forums documentaries and reading? this shit is interesting as fuck to me and may end up saving my ass at some point
That's the ENTIRE point of the movie. That the men controlling the bulk of money on the planet are a few quiet guys in suits that spend most of the day on the phone. And that once they realize a wave of destruction is coming, they quietly make off with their winnings and go home. There's no intense discussion or speeches, they just carve up humanity like butchers.
Stupid shit boring movie. Big short would have been 10/10 if not for the stupid 4th wall narration and explanations
>they never even show what he saw
???
It's crystal clear :
>Firm is buying and packaging fixed income products backed by mortgage (AKA MBS)
>Such buying is downed with a big ass leverage (On margin, hence the name)
>Packaging take time, so these assets are in balance sheet before they are sold off
>But because they are "solid" assets, they don't trigger pos warning
>A lose in value of 25% of currently "in transits" assets would wipe the firm at the subsequent margin call.
>Fuck those toxic assets, sell it all NOW so that the margin call never happen.
Margin Call is more serious, a better in depth look into the operation of a single IB.
but Big Short is simply more entertaining. It's too fun, good mixture of information and entertainment value. You can tell they had the benefit of drawing from influences from Margin Call/Wolf of Wall Street though.
Even though this thread is a small sample size, it shows you how most people here are legit dumb. Like, I’m not exaggerating that point whatsoever. There are many, many dumb people posting on here.
Watch, 1) Boiler Room. 2) Rounders. 4) Macerick.
Found the scene
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>Rounders
That's definitely one of my top 5 favorite movies of all time
what did you study to get there user?
doing an econ degree but it seems kinda worthless, thinking in switching to compsci or mathematics
Anyone see croenbergs Cosmopolis?
This, the original Wall Street, and Trading Places are all finance kino
bonus points for the 1987 documentary called Trader that follows Paul Tudor Jones shorting the crash for pure 80s kino
>2 years of French prep school in actual engineering (Steel, mechanics, material Science, physics, all that bridge building crap)
>3 Years of Applied Mathematics + Comp Sci (Engineering Master Degree)
>1 Year of Artificial intelligence at a neaby university because I was bored at school (Master Degree)
>1 Year in Japan in a reserach lab focusing on developping what is basically a multiplayer GPS + messaging app for civilian use (think Blue Force but for police and Firemen in Japan)
Knew how to use a computer before knowing how to read (this was before the internet was even a thing). I actually started programming at 7 to learn multiplication tables, first actual complete software in C at 10 (Dad was a computer engineer).
What I did at the bank was working on High Frequency Market Making robots for ETF's (basically so that the people on Yas Forums can see a book -standing buy/sell orders- when they look up an ETF, which otherwise are fundamentally illiquid).
I hapenned to be there during the Greek Crisis, it was pretty fun.
> econ degree but it seems kinda worthless
Degree are here so that they look good on your CV, not to teach you actual skills. Most of what I learned was at home on my spare time or when not listening during classes.
Do a Master degree that you can finish in whatever is somewhat relevant for your skills, connect with the skilled/ambitious guys of your class. Dont count on people that ended being teachers to actually improve you (different with actual industry experts/scientist that get paid to teach you).
best quotes in the movie. i need to rewatch it
like this too but mostly for jeremy irons kino
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yeah, i can't tell if it's always been that way or if it's just now
>yeah, i can't tell if it's always been that way or if it's just now
Always been that way.
God damn you sound like a fucking parasite
You fucking faggots using the word kino are GAY AS FUCK
>what did you like most about your path?
Banging japanese chicks
Being a tech expert and hence hacing a very different card to play in office politic than simply suckin it up to a boss.
> trying to determine my end game on all this.
Money vs Time spent. Determine how much of your life you want to dedicate to your job and how much are you willing to sacrifice your personal life for it.
>do you prefer analysis or skimming cash off arbitrage opportunities/battling other finance bots?
There is literally no "analysis" necessary. If ETF is backed by asset from index X, then mechanically it's fair value is X. Then it's a technical race to get the fair value of the ETF to the exchange ASAP.
>I went into finance to learn how to vet securities like a pro but getting into the mechanics of actual trading always interested me. What would you recommend?
Some pills :
-Traders are NOT hedge fund managers. Most are glorified vacuum cleaner salesmen but with MLM level pressure on them. Since 2008, traders don't make that much money. Management does. But this part is also true at any other publicly traded company.
-You will not get rich by going into financial finance. It's only possible if you are already rich/connected/working smart 70hours a week (one of the main reason i bailed out). If out of uni you don't have an internship at a firm (thank to a godfather already in the firm), you'll never gonna make big cuts. You can become an irreplacable expert in a specific field/software/product of the firm you work, but then you are pidgeoned in this company and gambling on your skill being valuable for your whole career.
-Read Taleb
-If you still wanna aim to be somwhat connected to the market, develop specific knowledge and connection into what you wanna trade later. Quant/Analysts/Snake oil merchants are useful to show compliance that it was acktually not insider trading/market manipulation.
Profesional deformation. I'm not getting paid to sound nice. Just to give my opinion in my relevant field of expertise + actual implmentation of solutions with a side of sysadmin.
When was the last time you encountered an happy sysadmin ?
So the ideal path is just to find a low-stress job that pays good enough to live okay.
what i'm getting from this is I'm boned. so if I'm going to explore finance I may as well focus on the subject I'm interested in which is learning how to vet securities the same way a financial firm would. and wealth management in general. would probably get more out of working at a franchise.
>There is literally no "analysis" necessary. If ETF is backed by asset from index X, then mechanically it's fair value is X. Then it's a technical race to get the fair value of the ETF to the exchange ASAP.
i'm talking about the underlying asset within the ETF, though I could see how targeting arbitrage opportunities in ETFs would be a simple way of employing a bot, regardless of the fact that the value of an ETF is often above or below NAV. i didn't realize that market inefficiency could drive an entire career.
>You can become an irreplacable expert in a specific field/software/product of the firm you work, but then you are pidgeoned in this company and gambling on your skill being valuable for your whole career.
this happened to me in chemistry. fucked me up good; other players in the industry assumed that my specialization was the only subject matter I was qualified for. i'm trying to remain more general in finance until I find a niche that I want to fill. leaning towards fundamental analysis.
>Quant/Analysts/Snake oil merchants are useful to show compliance that it was acktually not insider trading/market manipulation.
interesting take on risk management department, you'd be interested in how CFA defines insider information
>So the ideal path is just to find a low-stress job that pays good enough to live okay.
Yes. Whatever is low stress and "good enough pay" is up to more interpretation.
>i'm talking about the underlying asset within the ETF
Banks don't do that directly. It's the job of assets management firms like Amundi/Vanguard/rtc...I worked in a bank.
>leaning towards fundamental analysis.
Pure snake oil. Assets have value because of their utility value as dices for other financial instruments gambling, not because of *snort* real world economy metrics or *sniker* past performances. If the last month haven't convinced you of that, I don't know what will.
If you are interested in this kind of in depht accounting research of companies, head up toward M&A more than "Fundamental" Quant. If you get into a small enough firm dealing with emerging market, you could even get a good enough slice of pies.
>interesting take on risk management department, you'd be interested in how CFA defines insider information
Again to quote Margin Call :
>selling to willing buyers at the current fair market price.
If you happen to research more into it than the counterparty (assymetry of information), you can't be blamed for making money out of it. What compliance don't want to do is you not being able to explain why you made a trade if you made a lot of money out of it or even thousand time worst, expose the firm politically.
where the fck do you think you are, on anime trannies image board and you complain about dumb people?
did you think that make you take IQ test instead of captcha before posting ?
