Eight ordinary people are given a million dollars, a fortnight of intensive training and two months to run their own hedge fund. Can they make a killing?

The experiment reveals the inner workings of a City trading floor. The money is supplied by hedge fund manager Lex van Dam: he wants to see if ordinary people can beat the professionals, and he expects a return on his investment too. Yet no-one foresees the financial crisis that lies ahead.

The traders were selected in spring 2008, before the US credit crisis gathered pace. The successful candidates were chosen, trained and dispatched to their specially created trading room in the heart of the Square Mile. Among them are an environmentalist, a soldier, a boxing promoter, an entrepreneur, a retired IT consultant, a vet, a student and a shopkeeper.

As the novices learn the dark art of trading stocks and shares, the financial markets start to buckle. Making money takes second place to basic survival as the brutal realities of global economics take their toll on the traders. How do they cope? Will they secure themselves a bonus, or walk away with nothing?

http://www.bbc.co.uk/programmes/b00gthhq

Now see the unseen City-4 January 2009

Lex Van Dam and his million dollar TV gamble-07 Jan 2009

Hils re the geriatric, any ideas or suggestions for a nickname for a geriatric set in his ways;-)
I hope the woman pulls through, going to be really interesting to see how she progresses,

Oh I've got several that spring to mind, Ruthie.

:o)

Hils. ;-)

Surprising they are placing trades on the horn rather than electronically must make better telly and fewer fat fingers!

I found the program very interesting and was worn out just looking at the stress volumes generated-lol

'The novices' had two weeks of training before making any trades and I'm sure they swotted up on the subject months before actually entering and being accepted,well,most of them!

Also what is and will be interesting is the timeframe which the program was filmed,I'm sure many will watch there own gains/losses being played out as the series progress.

As a bus pass holder, feel you girls are being a bit hard on the "geriatric", although he did make me cringe. Pity they could not find a better representative for the older and wiser generation. If I recall correctly, he did make the first trade of any of them, even if it was a dog!

i want to be on it if there is a follow up!!!

Strange how your perception of age changes as you get older - I used to think 50 was old

I've set up a blog dealing with the Million Dollar Traders to see how they get on over the 8 weeks

Million Dollar Traders

TheVoid, interesting , thanks, will be watching it with interest.

Watched this last night. He's given them $1m = 600k. Using CFD's, margin of 10x, that means he's risking 60k of his own money. Cheap way to fame! I noticed one of the positions was automatically stopped out, so most likely is CFDs.

Also the phone chat between them is so contrived, he's getting upset about 2k???

Yes, the amounts lost seemed small to me too - 200 ! I use that in toilet paper on a bad day.

Plus, I'm convinced he's hedging against all the losses, he would be nuts not to.

Ruth I will try and update the blog regularly, hopefully when the show really gets going there will be more to say.

hopefully when the show really gets going there will be more to say

There are only two more episodes so I doubt it's really going to 'get going' in the way that 'The Apprentice' does when it runs for twelve weeks.

Good show. I get the impression that the winner will be by luck rather than judgement.

I really liked Evan Davis' programme about banking a couple of evenings ago. I think it's a series rather than a one-off, so looking forward to the next one.

I thought there were 8 shows. Seems like I should pay more attention !

Watching it now on IPLAYER

TheVoid, thanks, looking forward to this weeks show,
They couldnt have picked a more volatile time to film it could they.right in the middle of the banking crisis, poor buggers,its hard enough at the best of times,
never mind 200 point swings in the dow in 5 mins;-)

Quite a harsh introduction... in at 6am assessing news/ creating strategies and then stuck in front of blinking numbers til the close, no wonder they freeze/ trade like headless chickens. They should work like real hedgies quaffing champers in Curzon street for a liquid lunch, may be that comes later in the series!

Ruthie: never mind 200 point swings in the dow in 5 mins

I don't think this lot could get on the phone to trade in less than ten minutes by the look of it.

I wonder if the trades actually go to the market? That would seem to me the other good reason for using the telephone. The broker at the other end just enters a dummy trade.

K: I hadn't thought of that -- I bet you're right.