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Robert Miller: I made a bad bet.
Brooke Miller: No, you committed fraud.
Robert Miller: That's a dangerous word, Brooke.
Brooke Miller: What would you prefer? That you cheated? That you stole money from people who trusted you? That you lied? That you lied right to my face? Why?
Robert Miller: Because we were going broke! Everything was finished. We'd have nothing.
Brooke Miller: How. How does that happen?
Robert Miller: You remember Alexanderov? Well he came to see me one day last year. He said Robert, we've got a great opportunity- there's a copper mine, it's in Russia, it's under- exploited- there's billions under the ground, and to get it out, all we need is a couple hundred million, you put in a hundred, we'll put in a hundred- we'll triple it all in six months. So, I go check it out. And the geological survey's right, friendly government. And to lock it in, you hedge it, right? Sell the copper ahead on the commodities exchange and it all works, it's fine, and you're making a fortune. But then there's something I hadn't accounted for-- variation margin-- and that friendly Russian government all of a sudden not so friendly anymore and they're blocking the export of the copper so I gotta make it up, I gotta put the cash in to cover the hedge. But I'm not worried about it because it's still springing money, there's so much money coming out of the ground you can't believe. You can't stop it. And, yes, I'm the oracle, I've done housing, I've arb'd credit swaps, I have done it all, and yes, again, I know it's outside the charter, but it is Fucking minting money! It's a license to print money! For everybody! Forever! It is god!...
Brooke Miller: Until...
Robert Miller: Until it's not... The money's trapped. You can't get it out. Probably never will. It's like a plane crash. It just happens
Brooke Miller: No, you committed fraud.
Robert Miller: That's a dangerous word, Brooke.
Brooke Miller: What would you prefer? That you cheated? That you stole money from people who trusted you? That you lied? That you lied right to my face? Why?
Robert Miller: Because we were going broke! Everything was finished. We'd have nothing.
Brooke Miller: How. How does that happen?
Robert Miller: You remember Alexanderov? Well he came to see me one day last year. He said Robert, we've got a great opportunity- there's a copper mine, it's in Russia, it's under- exploited- there's billions under the ground, and to get it out, all we need is a couple hundred million, you put in a hundred, we'll put in a hundred- we'll triple it all in six months. So, I go check it out. And the geological survey's right, friendly government. And to lock it in, you hedge it, right? Sell the copper ahead on the commodities exchange and it all works, it's fine, and you're making a fortune. But then there's something I hadn't accounted for-- variation margin-- and that friendly Russian government all of a sudden not so friendly anymore and they're blocking the export of the copper so I gotta make it up, I gotta put the cash in to cover the hedge. But I'm not worried about it because it's still springing money, there's so much money coming out of the ground you can't believe. You can't stop it. And, yes, I'm the oracle, I've done housing, I've arb'd credit swaps, I have done it all, and yes, again, I know it's outside the charter, but it is Fucking minting money! It's a license to print money! For everybody! Forever! It is god!...
Brooke Miller: Until...
Robert Miller: Until it's not... The money's trapped. You can't get it out. Probably never will. It's like a plane crash. It just happens
Full Transcript
00:00:01.000 --> 00:00:03.339
I made a bad bet No you committed fraud
00:00:05.339 --> 00:00:07.044
That's a dangerous word What would you prefer
00:00:07.441 --> 00:00:11.077
That you cheated
00:00:11.999 --> 00:00:12.279
That you stole money from people who trust you
00:00:13.279 --> 00:00:16.998
That you lied that you lied right to my face
00:00:16.999 --> 00:00:19.352
Why Because we were going broke
00:00:19.353 --> 00:00:21.387
Everything was finished
00:00:21.388 --> 00:00:23.524
We'd have nothing How How does that happen
00:00:23.525 --> 00:00:26.001
How
00:00:26.999 --> 00:00:28.461
You remember Alexandrov
00:00:28.462 --> 00:00:31.631
He came to see me one day last year
00:00:31.632 --> 00:00:33.006
He said Robert
00:00:33.601 --> 00:00:35.401
you got a great opportunity
00:00:35.402 --> 00:00:38.978
There's a copper mine in Russia It's under exploited
00:00:38.026 --> 00:00:40.106
there's billions under the ground
00:00:40.107 --> 00:00:42.409
To get it out all we need is a couple hundred million
00:00:42.041 --> 00:00:45.245
You put in 100 we'll put in 100
00:00:45.246 --> 00:00:47.583
We'll triple it in six months
00:00:49.583 --> 00:00:52.552
I was skeptical so I go check it out
00:00:52.553 --> 00:00:56.155
Geological survey's right Friendly government
00:00:56.156 --> 00:01:00.526
And to lock it in you hedge it
00:01:00.527 --> 00:01:03.093
Right We sell the copper ahead
00:01:03.931 --> 00:01:06.432
Commodities exchange and it all works It's fine
00:01:06.001 --> 00:01:08.901
We're making a fortune
00:01:08.902 --> 00:01:12.003
And then there's something that I hadn't accounted for
00:01:13.003 --> 00:01:14.001
A variation margin
00:01:15.001 --> 00:01:18.001
And that friendly Russian government not so friendly anymore
00:01:18.178 --> 00:01:20.245
They're blocking the exported copper
00:01:20.246 --> 00:01:23.916
So I got to pony up I got to put the cash in to cover the hedge
00:01:23.917 --> 00:01:25.001
But I'm not worried about it because it's still springing money
00:01:25.684 --> 00:01:27.654
There's so much money coming out of this ground
00:01:27.655 --> 00:01:30.455
you can't believe it You can't you can't stop it
00:01:30.456 --> 00:01:32.658
Yes I'm the oracle
00:01:32.001 --> 00:01:37.999
I have done housing I've arb'd credit swaps I have done it all
00:01:37.004 --> 00:01:40.999
Yes I know it's outside the charter
00:01:40.333 --> 00:01:41.001
but it is fucking minting money
00:01:42.001 --> 00:01:45.006
It is it's a license to print money for everybody
00:01:45.997 --> 00:01:48.011
Forever It is God
00:01:51.011 --> 00:01:55.002
Until Until it's not
00:01:55.007 --> 00:01:58.517
The money's trapped I can't get it out
00:01:58.518 --> 00:02:00.999
I probably never will
00:02:00.955 --> 00:02:02.001
It's like a plane crash It just happens
00:02:03.001 --> 00:02:06.001
It does not just happen It just happened honey
00:02:06.006 --> 00:02:09.995
You are so naive sometimes You're young but you're not that young
00:02:09.001 --> 00:02:11.965
It happens
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Movie Summary
A troubled hedge fund magnate desperate to complete the sale of his trading empire makes an error that forces him to turn to an unlikely person for help.
