This documentary is part of the BBC's "The City Uncovered" series. The presenter, Evan Davis, looks at risk management, derivatives, and how hedge funds are able to make money, if the markets go up, or down. The film is an excellent and timely review of what risk is and how it can be managed.
As most people with some finance exposure know, risk management can involve both increasing or decreasing risk exposure, the trick is know when to do what. This knowing is the job of the speculator, be they a hedge fund manager, a company treasurer, or an individual investor.
The documentary also examines a couple of risk management case studies e.g. Long Term Capital Management, AIG. As well as talking to Nick Leeson (of Barings Bank fame), and others.
Finance Documentaries: http://www.financedocumentaries.com/2011/06/birth-of-speculator-tricks-with-risk.html