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Loadsamoney

Posted on | January 19, 2009 | No Comments

I am pretty ignorant when it comes to the workings of the stock market and trading in shares. I never did any commerce/business subjects whilst at school which is a decision I regret.

This series started last week on BBC2. 8 novices have been given a fortnight’s training and then let loose on the stock exchange with a million dollars from a hedge fund manager.

The question is, how will they get on? will they do as good or better than the professionals?

million

The contestants’ backgrounds vary considerably: retired IT consultant, a shopkeeper,  retired army major, an environmentalist, a vet, a boxing promoter, an entrepreneur and more. Their response to the stress of making their first buys of shares also varies. We get the tears, the finger biting, the delay tactics, the inability to make decisions, the second guessing themselves.

Overseeing their progress is Anton who makes calls to Lex the boss, in the manner of Bosley and Charlie in Charlie’s Angels. None of the contestants are particularly sympathetic yet, a few a bit annoying already and I can see tensions may rise as its their collective profit/loss that will determine whether they recieve the bonus.

Alas the trading begins as the credit crunch effects hit so it appears making loadsamoney may not be as straightforward as originally hoped, though it is stressed it is very possible to make money in a declining market by selling short, ie gambling on a share price decreasing. The first week ends with the group making a considerable loss.

Looking forward to seeing if they improve this week.

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