So, we're running a supermarket, huh?
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Nick Leeson:
[voiceover]
My team were young, they were hungry, and they didn't have a clue. [in a cafe with his newly hired team] Nick Leeson:
A futures contract is an agreement to buy or sell a specified amount of a commodity at a specified price at a future date. [no one responds] Nick Leeson:
All right, um... it's like if I agree to sell you this cup of cappuccino, which I don't yet own, at 45 cents a month from now, if I can buy the cappuccino at say, 43 cents, I make a profit. If the price goes the other way, I have to pay more and I lose. It's timing, it's buying and selling at the right moment. Sometimes expresso might be the best deal, or salt or pepper. George Seow:
So, we're running a supermarket, huh? [they laugh]
[voiceover]
My team were young, they were hungry, and they didn't have a clue. [in a cafe with his newly hired team] Nick Leeson:
A futures contract is an agreement to buy or sell a specified amount of a commodity at a specified price at a future date. [no one responds] Nick Leeson:
All right, um... it's like if I agree to sell you this cup of cappuccino, which I don't yet own, at 45 cents a month from now, if I can buy the cappuccino at say, 43 cents, I make a profit. If the price goes the other way, I have to pay more and I lose. It's timing, it's buying and selling at the right moment. Sometimes expresso might be the best deal, or salt or pepper. George Seow:
So, we're running a supermarket, huh? [they laugh]
Full Transcript
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they were hungry and they didn't have a clue
00:00:04.237 --> 00:00:07.264
A futures contract is an agreement to buy or sell a specified amount
00:00:07.034 --> 00:00:10.799
of a commodity at a specified price at a future date
00:00:14.213 --> 00:00:16.512
Right Um
00:00:16.582 --> 00:00:19.078
It's like if I agree to sell you this cup of cappuccino
00:00:19.852 --> 00:00:23.414
which I don't yet own at 45 cents a month from now
00:00:23.489 --> 00:00:27.927
If I can buy the cappuccino at say 43 cents I make a profit
00:00:27.994 --> 00:00:31.431
If the price goes the other way I have to pay more and I lose
00:00:31.497 --> 00:00:35.127
It's timing It's buying and selling at the right moment
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Movie Summary
The story of Nick Leeson, an ambitious investment broker who singlehandedly bankrupted one of the oldest and most important banks in Britain.
Actors
Nick Leeson
George Seow
