Extremely
accurate. Down to the fleece vests that are ubiquitous on trading
floors. In fact, that is among one of the first things that people in
the industry mention about the show. Some of the jargon they use is…
okay… but not entirely appropriate. I say okay, because you have to make
the show accessible to the general population.
In
the few times where the show has specifically mentioned hedge fund
compensation in dollar terms, those numbers are not entirely
unreasonable, though they do probably lean on the upper tail of the
industry bell curve. On average, hedge fund compensation is probably
more tame than what the show indicates.
Many
of the major plot lines have some basis in truth and are based on real
people and real events. It’s easy to go back through hedge fund lore to
try to figure out which persona inspired a particular Axe plot line.
There’s probably a one-for-one correspondence.
You
take a kernel of truth and multiply the amount of “drama” by 5x and
you’ll end up with approximately the show “Billions.” That being said,
there’s lots and lots of hedge funds out there and many many years of
history to draw upon. No individual hedge fund experiences as much
scandal/drama in its lifetime as Axe Capital does in 10 weeks. (Maybe
sample size bias but my personal sense is that the hedge fund community
really enjoys watching this show.)
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