Top 5 Videos on Warren Buffett

Warren Buffett is primary shareholder, chairman and CEO of Berkshire Hathaway, and ranks amongst the world's wealthiest people. Warren Buffett made much of his billions through applying his keen business sense and his value oriented investment style - he sees his core talent as being a skilled allocator of capital; and owes much of his investment success to picking skilled managers and letting them get on with running the business. Clearly as one of the world's most successful investors, his methods and path to success have been closely studied by many aspiring investors around the world, and in a game where knowledge is power it makes sense to learn from this master of investing. The following 5 documentaries provide an insight into the life of Warren Buffett, how he made his money, what he thinks about, and how he invests.

1. Warren Buffett Revealed
This Bloomberg documentary provides an interesting look at this legendary investor, telling how he became interested in stocks early in his life and became a disciple of the 'father of value investing', Benjamin Graham (author of the book "Securities Analysis"). Buffett mastered the style of value investing and with instincts and gumption made a strong start, but he really took things to the next level when he orchestrated the takeover of Berkshire Hathaway; later focusing the business on insurance - allowing him access to a sizeable pool of investable assets

2. The World’s Greatest Money Maker
This BBC documentary offers an intimate look at the life of Warren Buffett, how he made his money, how he operates, how he came to operate in the way he does, and how he thinks about his wealth. It also takes you on a tour of his office and the annual shareholders meeting of Berkshire Hathaway, not to mention a peak at his many eccentricities.

3. Biography – Warren Buffett
This biographical documentary takes you through the life of Warren Buffett; how he developed his value investing philosophy, how he came to be majority owner and CEO of Berkshire Hathaway, his frugality, his upbringing, his key choices in life, his mentors, the turning points and defining moments.

4. Warren Buffett – Going Global
This video is more about an applied look at how Warren Buffett operates, the CNBC show follows Warren on one of his rare trips overseas, including a look at one of his first offshore acquisitions - ISCAR. This video shows how folksy, old fashioned, and down to earth the billionaire investor is, but it also shows how he is quick to realise a good deal and his talent for allocating capital. It also shows his brilliance for identifying great companies and strong capable management teams and letting them get on with the business for him.

5. Warren Buffett MBA Talk
Finally we get a talk from the man himself, with some key messages for the MBA students he is addressing on the importance of integrity, intelligence, and energy for success; but that there is more to it than intelligence and energy - without integrity a person can become dumb and lazy. He also opens the floor to some interesting and thought provoking questions, providing an eye opening look into how the man thinks and what he sees as the key issues in business and investing.

Thanks to www.financedocumentaries.com for finding all these documentaries (and others!) 

Source: http://www.alleconomists.com/2012/10/top-5-videos-on-warren-buffett.html

6 Documentaries on the European Sovereign Debt Crisis

The European sovereign debt crisis has been a dominant force in the banking system, financial markets, and global economy over the past couple of years. Each day we have a different headline, either explaining how things are getting worse and worse, or how a big solution is imminent. But what is the cause of the crisis? How did it come about? And how will it ultimately play out? These documentaries provide a concise and engaging means of understanding the euro zone debt crisis.

1. The Great Euro Crash
This documentary starts the viewing by explaining the well intentioned ideas underpinning the Euro. Along with the history of the Euro, it also explores the present crisis and looks at how the future shape of the Euro may evolve. There's a few interesting interviews with present and past power brokers of Europe.

2. Debtocracy
The poster-child of the Euro crisis has to be Greece. Greece is a country that epitomises the crisis; it spent profligately, racking up large fiscal deficits and taking on more and more debt, all the while becoming less and less competitive with the rest of Europe. In many ways it was only a matter of time before Greece encountered a crisis. But what's next for Greece? This documentary explores the causes and potential solution to the Greek crisis.

3. Debt and Redemption
This documentary focuses on one of the many enabling factors of the crisis: derivatives and investment bankers. While ultimately it was poor economic policies, low productivity and competitiveness, and fiscal mismanagement that caused the crisis, this additional factor of mis-sold derivatives and financial contracts certainly didn't help.

4. Catastroika
In combating the debt crisis the governments of the various countries in Europe have taken on harsh austerity measures and aggressive programs to raise cash and revenues. Much of the austerity drive has been mandated by the terms of the various bailouts. This documentary looks particularly at the cash raising part - privatisations. Privatisations are often controversial, but have many potential benefits and some risks.

5. Britain's Trillion Pound Horror Story
The UK is not immune to the Euro crisis, sure it didn't join the currency union, but it's experience isn't too far removed from Ireland's. Britain has likewise accumulated a large sovereign debt load, but has recently embarked on significant austerity moves to sure up it's fiscal sustainability. 

6. The Great Euro Crisis
The last stop on the video tour of the European debt crisis is "The Great Euro Crisis". This documentary probes into what may come of the Euro - will Greece stay in, will get kicked out, or will it opt out? One thing is for sure: the Euro will not look the same in 5 years time; but it remains to be seen what will come... 

Thanks to www.financedocumentaries.com for finding all these documentaries (and others!) 

Source: http://www.alleconomists.com/2012/08/6-documentaries-on-european-sovereign.html

Top 8 Documentaries on Financial Crime and Fraud

Finance has received a bad reputation through the financial crisis, and while not all that went on around the crisis was outright fraudulent, there have been through history some notable episodes. Be it from incompetence, poor governance, or deviousness; through history several figures have achieved noteriety for their sometimes spectacular misdeeds. This article lists the top 8 documentaries on financial crime and fraud. While these cases are extremely interesting and appalling, they are also very informative in terms of equipping yourself to notice some of the warning signs.

1. The Madoff Affair
This one takes the number one spot due to the scale of the fraud and the temerity of the perpetrator. Indeed Madoff has become the word to describe ponzi schemes and investment scams. Madoff was ultimately responsible for losing billions and billions of dollars in a phony investment scheme that suckered in famous people, other financial institutions, and many individual investors. Watch and learn!

2. Enron: The Smartest Guys in the Room
This list would be incomplete without this one. In fact this documentary has become a key tool for classes that teach on corporate governance. What you had with Enron was a complete failure of corporate governance, where greed took over and rogue executives ran wild, serving their own selfish interests and dooming a company that employed thousands of people and was invested in by thousands.

3. Bigger Than Enron
Who was bigger than Enron? The auditors - the guys who should have picked up on the games they were playing over at Enron, but instead chose to cover up and hide the fraud. This lead to the demise of a once highly esteemed, 89 year old major accounting firm. A good case study on ethics and corporate responsibility.

4. Masterminds - Crazy Eddie
Remember Crazy Eddie? Eddie Antar cooked the books, faked inventory and sales, committed insurance fraud, and stock manipulation. The company's financials were doctored to present a booming profitable business, and of course, when the company listed on the stock exchange in an IPO, Antar got rich,while investors were duped into buying a shoddy company. Here's how he did it.

5. American Greed - Hedge Fund Manager
Here's another version of Madoff - this is on a smaller, but by no means trivial scale. Samuel Israel set out to start a hedge fund, he started with the best of intentions, but one mistake lead to another. In the end he was dipping into client funds, making stupid investments, and ultimately falling for a scam himself as he tried desperately to make the money back. Warning: check your investment manager very carefully!

6. 25 Million Pounds
Ever heard of Barings Bank? Or a guy called Nick Leeson? Or have you seen the movie "Rogue Trader"? Basically this is a case where a young up and comer rose to management, started trading on the bank's book, initially making large profits, before losing billions, and hiding it through his having control over back office functions. This is a lesson on why you need good controls and processes!

7. Frontline - Black Money
This PBS documentary investigates the influence of money in politics. Remember the saying "money is power"? Well here's how it works. Corruption, graft, blackmail, bribes, and other shady dealings dilute the proper functioning of democracy and add costs and inefficiency to doing business. This is financial crime on a larger scale.

8. Tricks of the Trade: Outsmarting Investment Fraud
The final documentary focuses more on how you can avoid investment fraud. This is a great documentary to cap the list off with, because it is important to realise what's a scam and what's a good opportunity. You shouldn't be discouraged by fraud and scams, rather you should learn from them so you can make the right financial moves.

Thanks to www.financedocumentaries.com for finding all these documentaries (and others!)

5 Documentaries That Explain Investment Banking

Investment banking, what is it? Well it depends who you ask: some might say it's what those people on Wall Street do, others will say it's all about greed and using other people's money to maximise bonuses, and some will say it's an essential set of services for efficient allocation of capital and an important part of the workings of the financial system. Well I'm not going to give you an answer, but I will give you 5 documentaries on investment banking that will help shed light on the industry and help you come to your own conclusion as to what investment banking is all about.

1. Investment Banking
This documentary was put together by an Australian University in conjunction with UBS, and provides a good introduction to the key roles within an investment banking organisation. While the focus is on one institution it does provide an inside perspective on investment banking.

2. Wall Street Warriors

The Wall Street Warriors series follows a variety of Wall Street professionals in a range of professions and variety of experience levels. It gives a real inside perspective on how these people live and what they do and what kind of people they are; quite an eye opener.

3. Goldman Sachs: Power and Peril

CNBC put together a very interesting documentary on Goldman Sachs. This documentary takes a more critical view point on investment banking, and highlights some of the conflicts of interest and moral hazard present in the industry. 

4. Super Rich: The Greed Game

Adding further perspective, this BBC documentary shows how investment bankers, hedge fund managers and private equity investors have become 'super rich' and includes some interesting interviews and insights into how the big earners operate and the consequences of greed and success.

5. Cityboy: Secrets of Investment Bankers

The final documentary rounds it off with a tell-all from a former investment banker who tells of the guts and glory of being a banker in the City of London, giving an insight into some of the excesses indulged by some in certain circles of high finance.

Thanks to www.financedocumentaries.com for finding all these documentaries (and others!)

Top 10 Trading Documentaries

With the popularity and feedback on my previous article on the top 10 financial crisis documentaries, here's my take on the top 10 trading documentaries. In the list that follows, the topics covered range from quantitative trading, getting started as a trader, a day in the life of a famous trader, the demise of trading pits, a look at the global foreign exchange market, and a history of market bubbles. These documentaries are a great source of inspiration as well as learning, and anyone who has traded in the markets knows that inspiration and learning are critical inputs to success.

1. Trader - Paul Tudor Jones
This documentary follows famous hedge fund trader Paul Tudor Jones, giving an insight into how a typical day looks, but also some of the unique personality traits and thoughts the man has. The documentary is somewhat dated, but is long on entertainment and inspiration, but perhaps a little short on education, but definitely worth a watch.

2. Million Dollar Traders
This 3 part reality TV show is an experiment by hedge fund manager, Lex  van Dam, to see whether he can train a handful of ordinary people into becoming successful traders. Basically this is The Apprentice meets financial markets. Perhaps the most interesting learning that this series gives is the psychological aspects of trading, you see some of the traders blowout, some of the get caught like a deer in the headlights, while others keep their cool. This one is long on inspiration, entertainment, and insights.

3. Rookie Trader
This is one for the beginners, it follows a CNN news anchor as he attempts to learn how to trade. He speaks with some trainers, coaches, and experts in trading to learn the basics e.g. market terminology, risk management, psychology, and basic operations. Informative for the beginners, and likely entertaining for the more advanced traders.

4. Billion Dollar Day
Here's another oldie but a goodie, this one follows a day in the life of three foreign exchange traders/dealers in New York, London, and Hong Kong. While the fashion and the technology have certainly moved on, it's still an interesting watch from the perspective of understanding the various players in the forex market, particularly in terms of the commercial banks - who largely rule the market.

5. Quants: The Alchemists of Wall Street
Some traders rely on luck, some on their instincts, some lucky ones use their employer's balance sheet, but another breed of traders takes the psychology and luck aspect out, instead focusing on the more scientific side of making money in the markets. The quants develop sophisticated algorithms and use highly advanced computing and connectivity technology to exploit statistical anomalies and patterns in the market. This documentary provides one of the best insights into this arcane corner of Wall Street.

6. Trillion Dollar Bet
But market scientists are not infallible; this documentary looks at the rise and fall of Long Term Capital Management, a hedge fund founded by PhDs and Nobel prize winners; the big names of financial theory. While their meteoric rise and profitability were astounding, equally astounding was the fundamental flaws in their trading thesis and underlying assumptions that lead to their subsequent demise. A fascinating documentary and a good reminder that so-called 'long-tail' events can have a nasty habit of derailing the best laid plans.

7. Floored
With the rise of technology came the fall of old ways of doing things, Floored is a documentary movie that chronicles the demise of the pit trading, or "open outcry" markets (the old days where markets were not trading engines housed in server farms, but a rowdy crowd of individuals shouting out and hand signalling orders to each other). Very interesting look at how the pits used to work, and an interesting look at how the old traders are adapting (or otherwise) to the new world of technology based markets and trading.

8. Tricks With Risk
As anyone who deals with financial markets should know, to make money you have to take on risk. How you manage or package the risk makes a great degree of difference as to how much you will make or lose in various scenarios. Indeed, some say the role of traders is to take on risk from those who do not want to hold the risk themselves; risk is a key stock in trade of a financial market participant. But as this documentary reveals, dealing in risk can get you burnt - and in the worst of times e.g. AIG, mismanaging risk can burn the entire system!

9. Betting on the Market
Anyone who was around during the late 1990's can attest to the euphoria of the massive bull market. Valuations went to extremes, everyone was talking about the new economy, and of course everyone was an expert! There will certainly be another massive bull market at some point, and this euphoria will return, so take a look at this documentary for a glimpse at what will be to come. Brilliant little documentary for stock investors.

10. Tulipmania
Speaking of bubbles, why not look back in time to see one of history's most infamous bubbles, the dutch Tulip bulb trading bubble. Perhaps nothing illustrates best the excesses of crowd psychology than the tulip bubble, so this one makes the list as a reminder that all markets are ultimately driven by the thoughts and emotions of the people that are buying and selling.

Hopefully these documentaries help your trading, or at least entertain you during the holiday period. Please be sure to point out any I might have missed, or that should be in the top 10. Best wishes for 2012, may it be a year of profits and prosperity!

Thanks to www.financedocumentaries.com for finding all these documentaries (and others!)

Top 10 Financial Crisis Documentaries

The global financial crisis of 2008/9 has left a significant economic dent, with the global economy slow to rebound, and with a banking crisis transitioning to a sovereign debt crisis in some countries. Indeed many people have felt the impact on their own balance sheets; with house prices and stock prices well off their highs, and in some cases with fixed income assets wiped out. The crisis is sure to leave a lasting psychological impact on all who were touched by it. But of course, with great challenge comes great opportunity, and one of the opportunities is for learning. So after watching a series of crisis related documentaries, I present here what I think are among the top 10 financial crisis documentaries.

1. The Fall of Lehman Brothers
   To me the very title of this documentary was one of the defining moments of the financial crisis. What was previously unthinkable became reality, and at this moment I believe the greatest shock-wave was sent out across the global financial markets. So if there's any documentary on the financial crisis to watch, I think this one tops the list.
2. America's Bankrupt Banks (Inside the Meltdown)
   And of course, before there was Lehman's there was Bear Stearns. Bear Stearns was much closer to the sub-prime crisis and played the game in such a way that it was first to bear the full brunt of the collapse in the housing market. This documentary focuses on the collapse of Bear Stearns.
3. Meltdown
   The 4-part documentary from Al Jazeera released this year is one of the most talked about documentaries on the financial crisis. Meltdown takes you through all of the facets of the crisis, but places a particular emphasis on the human impact, and reviews some of the civil unrest that grew out of the discontent that the crisis left behind.
4. How the Banks Never Lose
   This one takes you over the other side of the ocean to get a glimpse at the conditions that led up to the banking crisis in the UK, where a similar story was unfolding alongside the US banking crisis.
5. The Boom & Bust Years (The Age of Risk)
   This BBC documentary provides more background on the activity and conditions that lead to the crisis. Of course we are blessed with hindsight, but looking back it is at once appalling, mystifying, and embarrassing what was going on, and it seems to leave little wonder that a crisis was the logical conclusion.
6. Breaking the Bank
   We've got Lehman's and Bear Stearns on the list here, but another key bank (which actually survived)  that played a pivotal role through the crisis was Bank of America. This documentary follows the actions of Bank of America CEO Ken Lewis, and the events that went on at the Treasury that prevented the collapse of the entire banking system.
7. Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders
   The list would be incomplete without a close look at consumer credit. The core cause of the crisis was really an unsustainable explosion in the growth of debt and credit. For a time debt was super cheap and super easy to get, so of course asset prices were sent to unsustainable levels, unsustainable industries were propped up, and people borrowed well beyond their means. Of course, because of this the recovery from this crisis has and will continue to be hard because people (and governments) still need to get back to more sustainable levels of borrowing.
8. Debtocracy
   The last 3 documentaries on this list are not about the 2008 crisis, but are well worth a look for additional context. This one in particular talks about the Greek debt crisis that has precipitated in the wake of the financial crisis, and which has caused considerable contagion and escalation of economic distress in Europe, and much more water has yet to pass under the bridge.
9. Prisoners of Debt: Inside the Global Banking Crisis
   This is not about the banking crisis of 2008, no this is about the 1980's third world debt crisis. It bears stark resemblance to today's banking, and of course Sovereign debt crises. I'm sure most people who watch this documentary will think "why didn't we learn?" 
10. The Crash of 1929
    Like number 9, this is not about the 2008/9 crash, but many people have drawn parallels to the great depression and the crash of 1929 with today's crisis. So to be able to participate in the debate it is well worth taking a look into what went on all the way back then. But also, in terms of the scale of the crisis and the impact, the 1929 crash is the closest comparison to the 2008 crash.

Thanks to www.financedocumentaries.com for finding all these documentaries (and others!)