Saturday, 20 September 2014
Last updated 1 day ago
Jan 23 2009 | 1:02am ET
It was only a matter of time: The BBC unveiled a hedge fund reality show this month.
“Million Dollar Traders” is putting to the test the notion that anyone can run a hedge fund. Eight “ordinary people”—but none with financial backgrounds—were picked and given a million dollars to start their own funds. The show’s own Donald Trump, former GLG Partners trader Lex van Dam, gave the contestants a two-week crash-course in money management, and the would-be hedge fund managers then had two months to try their hand at running their funds, at a trading floor set up in London. Contestants are even allowed to keep some of their profits, should there be any.
The competition began in earnest in June, amidst the credit crisis and the early stirrings of the banking crisis. Like their professional counterparts, some of the contestants “take big risks, and others lose their nerve in spectacular fashion,” according to the BBC.
The three-part series will conclude on Tuesday on BBC2, with just three of the would-be hedge fund managers reaching the finish line.
Van Dam, who the BBC says put the money up for the competition, now runs his own hedge fund, Hampstead Capital.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.