Author: Lady Trader

"Lady Trader" is a Brooklyn girl, and a Wall Street lifer! Recently fought cancer, and won! I love heavy metal, history, sci-fi, oh, and blogging about Billions and it's great lead actor, Damian Lewis!

From the Trader’s Desk: S2E5 “Currency”

“This is some fucked up universe we’ve decided to live in.”
source: Showtime

And with that, I welcome you to “From the Trader’s Desk” and my take on Episode 5, “Currency”.

There was a lot going on in this episode: currency plays, rising interest rates, 15 bips on the 10 yr.  Things that I don’t think twice about, but may need a bit of explaining to some of our readers. I’ll do my best. As always, if there is something I don’t cover, just ask! Currency trading is not something I do at all. I stick with domestic equities. However, I do have to know a little about it, since currency, and interest rates can (and do) effect the overall markets.

This was a unfamiliar Axe in “Currency“. He was taking risks he wouldn’t normally take, all because he didn’t want to have a down quarter. It clouded his vision, and his outlook in my opinion. He was willing to risk so much, just to not have one misstep. It reminded me of a classic mistake gamblers on a losing streak make: doubling down. I have it seen firsthand: down $500 on the 1:00 PM NFL bets, you try to recoup that and more by placing bigger bets on the 4:00 PM games. If you win, you can get even or maybe pull ahead; but if you lose, now you’re down $1,100 (when you bet with a bookie, you have to pay a “vig” of $5 on every $50 you lose). It’s a risk, and that is what gambling is, but it’s not a smart risk. As Axe says “Who makes a bet if they don’t know the outcome? Suckers!” Continue reading “From the Trader’s Desk: S2E5 “Currency””

From the Trader’s Desk: 2 for 1 Special!

Happy Friday from the Trader’s Desk!

This week, I’m giving you a 2 for 1 special! As the “fin speak” in “Optimal Play” and “The Oath” was at a minimum, I’ll be giving you my thoughts and observations on both today.

“Optimal Play”

I was so happy that basically an entire episode was dedicated to my sister Damianista’s specialty of game theory. If you haven’t, read her recap. It will give you a professional’s take, and it’s great.

I don’t know much about game theory (a reason I need to sit in on a game theory class, taught at a major university; know anyone that can help?), but I do know what is and isn’t insider trading. And, it’s a shame that poor flight attendant McKayla didn’t. I guess she didn’t know you are supposed to do a Dollar Bill when you are talking to ADA’s and just keep saying “Lawyer! Lawyer! Lawyer!” Continue reading “From the Trader’s Desk: 2 for 1 Special!”

“From the Trader’s Desk” Ep. 2: Dead Cat Bounce

Welcome to “From the Trader’s Desk” and my recap of “Dead Cat Bounce”. (I’m just going to say this upfront: I hate that term, but only because I’m a cat momma!)

We open up at the Spartan-Ives sponsored “Thought Leaders” conference, which costs $3,000 to attend. These types of conferences are common, and can be market movers. Certain managers will mention a stock they like (or don’t) and it will move the stock price as they are speaking.

Source: Showtime

Continue reading ““From the Trader’s Desk” Ep. 2: Dead Cat Bounce”

From the Trader’s Desk: “Risk Management”, Episode 1 Season 2 of Billions

Welcome to “From the Trader’s Desk” for the 2nd Season of Billions! The original concept of these posts was to recap of 2-3 episodes from my point of view as a trader, and to help with any confusion with “fin speak”. However, “Risk Management” was so meaty; I had to dive right in. So now, without further ado….

”Trading is gambling, legalized gambling.”

source: Showtime

Those are words I spoke to Damianista on our first meeting. I think she asked me how I got into the financial industry, and I told her I loved to gamble, and found a way to do it legally.

How fitting then is it that we open Season 2 with Axe sitting at a racetrack! Now, I’ll admit, I didn’t know it was Yonkers Raceway. I thought it was Belmont Park, a place my grandfather would take me to as a kid. Axe tells Bach “this place made me”, and I totally understand. Continue reading “From the Trader’s Desk: “Risk Management”, Episode 1 Season 2 of Billions”

From the Trader’s Desk: A Review of Season 1 of Billions – Capturing the Essence of the Hedge Fund World

Hello from the “Trader’s Desk”!

As we get ready to enjoy the second season of Billions, we thought we would introduce our upcoming new series “From the Trader’s Desk” with my review of Season 1.

“From the Trader’s Desk” will be my take on what’s going on in the show (and a little fact checking) from the point of view of a Wall Street trader. I hope you enjoy reading it as much I enjoy writing it! Now, without further ado…

“Those who can, trade; those who can’t, prosecute.”

source: Showtime

That phrase came to mind once I knew the synopsis of Billions. Hedge Fund Titan (Bobby Axelrod) vs. the US Attorney (Chuck Rhodes). It’s a scenario that’s been playing out on Wall Street for some time. The players change, but the song remains the same.

I’ve spent my whole career on Wall Street; working my way up from a back office clerk to finally running my own money. So, I come into this show not only with the knowledge of the terms and situations, but also with the perspective of the hedge fund world. Continue reading “From the Trader’s Desk: A Review of Season 1 of Billions – Capturing the Essence of the Hedge Fund World”