Our documentary Haiti: Where Did The Money Go won this year's Edward R. Murrow Award for Best Television Documentary. On Monday, October 14, the Radio and Television Digital News Association will hold their annual awards dinner and show. The event will be held in the Broadway Ballroom at the New York Marriott Marquis Hotel in Times Square.
In the fourth episode of our new series "The Zeroes," it's all about volatility. From the markets to--yes--the boxing ring, traders bet on volatility in a way that "was clearly delusional." If you've ever wanted to see a couple of traders literally beating each other's brains out, here's your chance:
To really understand why Wall Street went bonkers in the early 2000s, it helps to understand...men. A specific type, to be exact. The "alpha male" led to a new saying: "alpha is the currency." Alpha firms, alpha deals. You get the idea. In the third episode of our series, "The Zeroes," we delve into the mindset--and what happened to the people covering the industry at Trader Monthly as the magazine began to run out of money.
And here is the seduction episode of our five-part series, "The Zeroes." It's easy to say now that the culture of consumptive mayhem that exploded with the markets was all about greed. But as you'll see, when 28-year-olds start making $10 million, they act...like 28-year-olds making $10 million a year. And the people watching from the sidelines caught a few crumbs, too.
We wanted to know what made smart people, people who should have known better, buy into the financial madness that turned a staid industry into an orgy. There are a lot of books and movies out there that beautifully describe the mechanics and motivations of the big players. But what about the traders themselves? Why did those guys believe what they were doing was right?
We turned to the cautionary tale of Randall Lane, former editor in chief of Trader Monthly (now, he's got a nifty new job), whose book The Zeroes is the basis for our new five-part series.
As producer Ivan Weiss found out, the good times were, well, pretty damn good.