1 00:00:01,652 --> 00:00:03,652 (THEME MUSIC PLAYING) 2 00:00:45,896 --> 00:00:47,596 NEWS PRESENTER: Columbians went to the polls today, 3 00:00:47,696 --> 00:00:51,397 for what could be a historic moment of change for the country 4 00:00:51,497 --> 00:00:53,717 As the second-round votes are counted, 5 00:00:53,817 --> 00:00:56,357 there are rumours and speculation in the capitol, 6 00:00:56,457 --> 00:00:58,197 that this could be the end 7 00:00:58,297 --> 00:01:00,878 of an eight-year reign for the political party 8 00:01:00,978 --> 00:01:02,918 and incumbent President. 9 00:01:03,018 --> 00:01:06,038 Columbian Presidents are elected for four year terms, 10 00:01:06,138 --> 00:01:07,678 using a two-round system. 11 00:01:07,778 --> 00:01:09,678 Well this voting year as a new candidate 12 00:01:09,778 --> 00:01:12,239 received a majority of the vote in the first round. 13 00:01:12,339 --> 00:01:14,359 (CELL PHONE RINGING) A run off has been held, 14 00:01:14,459 --> 00:01:16,719 between the top two candidates. 15 00:01:16,819 --> 00:01:18,199 Hugo, you're concerned. 16 00:01:18,299 --> 00:01:20,960 HUGO: No, not concerned. Curious. 17 00:01:21,060 --> 00:01:23,360 It'll drop. Let the others panic. 18 00:01:23,460 --> 00:01:26,080 HUGO: If it drops any further, it's going to be our money. 19 00:01:26,180 --> 00:01:28,680 The election results will start coming in, in about three hours. 20 00:01:28,780 --> 00:01:31,361 If it still hasn't changed then you can be concerned. 21 00:01:31,461 --> 00:01:33,521 HUGO: I hope you're right. I am. 22 00:01:33,621 --> 00:01:37,061 HUGO: Okay. You're the genius. Goodnight professor. 23 00:01:43,982 --> 00:01:48,962 Hi. I'm staring at the most ridiculous picture of myself. 24 00:01:49,062 --> 00:01:50,123 ALEX: We'll put it up in the bathroom. 25 00:01:50,223 --> 00:01:51,483 No, we will not. 26 00:01:51,583 --> 00:01:55,003 No-one should ever see their face this big. Ever. 27 00:01:55,103 --> 00:01:56,963 How's it going down there? 28 00:01:57,063 --> 00:01:58,803 GABBY: It's okay, I think. 29 00:01:58,903 --> 00:02:01,144 I'm almost home. I'm leaving soon. 30 00:02:01,944 --> 00:02:03,604 Okay. Love you. Love you. 31 00:02:03,704 --> 00:02:05,704 See you soon. Bye. 32 00:03:03,990 --> 00:03:05,850 Columbian officials have announced 33 00:03:05,950 --> 00:03:09,571 that the incumbent president has maintained power 34 00:03:09,671 --> 00:03:11,971 in the most tightly fought political contest 35 00:03:12,071 --> 00:03:14,051 the country has ever seen. 36 00:03:14,151 --> 00:03:17,691 This unexpected result defied early poll predictions 37 00:03:17,791 --> 00:03:20,492 and sent shockwaves through the country. 38 00:03:20,592 --> 00:03:23,492 Agricultural policies will no longer change, 39 00:03:23,592 --> 00:03:26,292 affecting millions of people in rural areas 40 00:03:26,392 --> 00:03:29,333 who were expecting ownership and economy 41 00:03:29,433 --> 00:03:32,353 to be placed back in the hands of local farmers... 42 00:04:09,397 --> 00:04:11,397 GABBY: Hi! ALEX: In here. 43 00:04:16,877 --> 00:04:18,738 (ALEX CHUCKLES) 44 00:04:18,838 --> 00:04:21,078 Hi. Hmm? Thank you. 45 00:04:23,918 --> 00:04:25,378 Thank you. 46 00:04:25,478 --> 00:04:28,219 I've wanted this book for such a long time. 47 00:04:28,319 --> 00:04:30,319 I didn't get you this book. 48 00:04:30,759 --> 00:04:32,019 What? 49 00:04:32,119 --> 00:04:34,819 Nope. You must have dropped hints to somebody else. 50 00:04:34,919 --> 00:04:36,900 Not me. 51 00:04:37,000 --> 00:04:39,000 Who do you think it's from? 52 00:04:40,320 --> 00:04:42,500 Erm... 53 00:04:42,600 --> 00:04:44,600 I don't know. There was no name. 54 00:04:45,240 --> 00:04:47,821 There's no note. Erm... 55 00:04:47,921 --> 00:04:50,901 This book is so fascinating. It's Darwin's third book. 56 00:04:51,001 --> 00:04:53,781 He would use galvanism to induce an emotional reaction 57 00:04:53,881 --> 00:04:55,381 from his subjects. It's amazing. 58 00:04:55,481 --> 00:04:57,022 Oh! Okay. That's hideous. 59 00:04:57,122 --> 00:04:59,162 Can you put it away while we eat please? 60 00:05:01,722 --> 00:05:03,722 Erm. Yeah. Sorry. 61 00:05:29,125 --> 00:05:31,125 (DIAL TONE RINGING) 62 00:05:32,085 --> 00:05:34,105 Hugo. 63 00:05:34,205 --> 00:05:36,206 HUGO: Fine. Shouldn't have doubted you. 64 00:05:36,606 --> 00:05:37,946 What? 65 00:05:38,046 --> 00:05:39,306 HUGO: What? You're not checking the figures? 66 00:05:39,406 --> 00:05:41,406 You were right about Columbia. 67 00:05:42,726 --> 00:05:44,026 Thank you for the book. 68 00:05:44,126 --> 00:05:45,266 HUGO: What book? 69 00:05:45,366 --> 00:05:47,227 ALEX: The first edition Darwin. 70 00:05:47,327 --> 00:05:48,787 I know Gabby didn't buy it. 71 00:05:48,887 --> 00:05:51,607 And no-one else knows I'd be interested in it, so... 72 00:05:52,727 --> 00:05:54,627 HUGO: First edition? Absolutely not. 73 00:05:54,727 --> 00:05:56,228 I would never spend that much money on you. 74 00:05:56,328 --> 00:05:58,328 Seriously? You didn't buy it? 75 00:05:59,288 --> 00:06:02,128 HUGO: No. Probably a grateful client. 76 00:06:03,128 --> 00:06:05,128 I've wanted this book for a long time. 77 00:06:06,129 --> 00:06:08,369 HUGO: So, VIXAL knew about the election. 78 00:06:08,929 --> 00:06:10,189 Speculated. 79 00:06:10,289 --> 00:06:12,369 HUGO: Speculation could be worth ten million. 80 00:06:13,489 --> 00:06:15,149 So, we go short on Vista Airways? 81 00:06:15,249 --> 00:06:17,510 That's what it's telling us. Right. 82 00:06:17,610 --> 00:06:20,130 I'll authorise it now. Bonsoir. 83 00:06:34,811 --> 00:06:37,192 I'm going to go up. 84 00:06:37,292 --> 00:06:39,692 Five minutes. Okay. 85 00:06:59,174 --> 00:07:01,334 ALEX: "Fear. Terror. 86 00:07:02,094 --> 00:07:03,594 "The word fear 87 00:07:03,694 --> 00:07:06,475 "seems to be derived from what is sudden and dangerous. 88 00:07:06,575 --> 00:07:08,355 "And that of terror from the trembling 89 00:07:08,455 --> 00:07:09,995 "of the vocal organs and body. 90 00:07:10,095 --> 00:07:12,675 "I use the word terror for extreme fear. 91 00:07:12,775 --> 00:07:14,756 "But some writers think it ought to be confined to cases 92 00:07:14,856 --> 00:07:17,556 "in which the imagination is more particularly concerned. 93 00:07:17,656 --> 00:07:20,116 "The frightened man stands like a statue, 94 00:07:20,216 --> 00:07:21,916 "motionless and breathless. 95 00:07:22,016 --> 00:07:23,716 "Or crouches down as if instinctively 96 00:07:23,816 --> 00:07:25,817 "to escape observation." 97 00:08:01,780 --> 00:08:04,381 Evening. Oh, shit. 98 00:08:05,621 --> 00:08:07,621 GABBY: That was a long five minutes. 99 00:08:09,981 --> 00:08:11,981 ALEX: Sorry... 100 00:08:12,341 --> 00:08:14,342 I got distracted. 101 00:08:19,342 --> 00:08:22,622 So it's the right time of the month. 102 00:08:24,543 --> 00:08:26,543 Oh, I know. 103 00:08:26,943 --> 00:08:29,743 Do you want to? Yes, please. 104 00:08:51,225 --> 00:08:54,426 Oi, you. Time to shut down. 105 00:08:56,306 --> 00:08:58,746 You're not the only one with a big day tomorrow. 106 00:08:59,546 --> 00:09:01,546 Sorry. 107 00:09:12,187 --> 00:09:14,188 How are you feeling? 108 00:09:15,628 --> 00:09:18,268 Erm, fucking terrified. 109 00:09:20,308 --> 00:09:22,408 It's so exposing. 110 00:09:22,508 --> 00:09:24,509 It is. 111 00:09:25,989 --> 00:09:27,989 You're the bravest person I know. 112 00:09:29,469 --> 00:09:31,329 I have a good feeling about tomorrow. 113 00:09:31,429 --> 00:09:33,430 You're going to sell everything. 114 00:10:33,156 --> 00:10:35,156 (SUSPENSEFUL MUSIC PLAYING) 115 00:10:46,957 --> 00:10:48,957 (LOUD THUD) 116 00:12:12,926 --> 00:12:14,926 (BEEPING) 117 00:12:53,290 --> 00:12:55,290 (DIAL TONE RINGING) 118 00:13:00,211 --> 00:13:02,211 Police, please. 119 00:13:03,411 --> 00:13:06,071 I might have an intruder in my house. 120 00:13:06,171 --> 00:13:07,951 My name is Alexander Hoffman, 121 00:13:08,051 --> 00:13:10,052 an alarm should have been triggered. 122 00:13:10,612 --> 00:13:12,792 No. 123 00:13:12,892 --> 00:13:15,292 Well, could you send somebody quickly please? 124 00:13:15,972 --> 00:13:17,972 Yes. Thank you. 125 00:14:05,297 --> 00:14:07,297 (SUSPENSEFUL MUSIC PLAYING) 126 00:14:52,902 --> 00:14:54,902 Gabby! Lock the door! 127 00:14:56,222 --> 00:14:58,223 There's someone in the house! 128 00:15:06,463 --> 00:15:08,464 Gabby! 129 00:15:15,824 --> 00:15:17,204 GABBY: Alex? Alex? 130 00:15:17,304 --> 00:15:18,885 PARAMEDIC: Dr. Hoffman, can you hear me? 131 00:15:18,985 --> 00:15:20,485 My love. Alex? Alex? 132 00:15:20,585 --> 00:15:23,545 Dr. Hoffman. Are you all right? 133 00:15:24,025 --> 00:15:26,025 (GROANING) 134 00:15:34,266 --> 00:15:36,726 GABBY: Oh, my God! You're really bleeding my love. 135 00:15:36,826 --> 00:15:40,127 Dr. Hoffman. I am Jean-Phillipe Leclerc. 136 00:15:40,227 --> 00:15:43,147 Do you feel able to answer some questions? 137 00:15:45,307 --> 00:15:48,328 How long was I unconscious? 138 00:15:48,428 --> 00:15:49,848 PARAMEDICS: Maybe 25 minutes. 139 00:15:49,948 --> 00:15:54,548 We found these in the kitchen, next to the knives. 140 00:15:55,388 --> 00:15:56,849 Do they belong to either of you? 141 00:15:56,949 --> 00:15:59,849 What the fuck? No I have never seen them before. 142 00:15:59,949 --> 00:16:02,329 It's possible that the intruder was planning a kidnapping 143 00:16:02,429 --> 00:16:03,849 rather than a robbery. 144 00:16:03,949 --> 00:16:05,949 Oh, my God. 145 00:16:06,389 --> 00:16:08,470 Are you okay? I'm okay. 146 00:16:09,430 --> 00:16:10,730 He didn't hurt you? He didn't touch me. 147 00:16:10,830 --> 00:16:13,930 Do you know if anyone has a grudge against you? 148 00:16:14,030 --> 00:16:17,371 If anyone may have wanted to extort money from you? 149 00:16:17,471 --> 00:16:19,471 No. No. 150 00:16:20,191 --> 00:16:22,451 He disabled the alarms, so how did he get in? 151 00:16:22,551 --> 00:16:24,091 What? Through the front gate. 152 00:16:24,191 --> 00:16:29,052 Did anyone, apart from you know the codes here? 153 00:16:29,152 --> 00:16:31,092 Maurice. Maurice Genoud, yeah. 154 00:16:31,192 --> 00:16:33,532 Maurice, Maurice Genoud? GABBY: Oui. 155 00:16:33,632 --> 00:16:36,293 He's the head of security for my company. 156 00:16:36,393 --> 00:16:38,393 GABBY: And for the house. Yeah. 157 00:16:39,833 --> 00:16:41,813 He took his shoes off. 158 00:16:41,913 --> 00:16:44,253 GABBY: What? Why would he do that? 159 00:16:44,353 --> 00:16:45,573 His shoes. What shoes? 160 00:16:45,673 --> 00:16:47,174 He left his boots by the front door. 161 00:16:47,274 --> 00:16:49,594 That's how I knew someone was in the house. 162 00:16:53,594 --> 00:16:56,615 Sir. Do you remember what he looked like? 163 00:16:56,715 --> 00:17:00,015 It's very important we show a description of this man 164 00:17:00,115 --> 00:17:02,115 as soon as possible. 165 00:17:06,956 --> 00:17:09,096 LECLERC: Dr. Hoffman? 166 00:17:09,196 --> 00:17:10,496 ALEX: I'm all right. 167 00:17:10,596 --> 00:17:13,336 GABBY: Oh, my God. Careful. Careful. 168 00:17:13,436 --> 00:17:15,436 ALEX: I'm all right. I'm all right. 169 00:17:16,597 --> 00:17:18,597 Just leave me alone. I'm okay! 170 00:17:21,317 --> 00:17:23,457 Just give me a second. 171 00:17:23,557 --> 00:17:25,558 It's in here. 172 00:17:27,438 --> 00:17:30,138 Someone sent me this book anonymously yesterday. 173 00:17:30,238 --> 00:17:33,238 That's him, that's the man I saw. 174 00:17:34,838 --> 00:17:39,059 You know that this photograph is more than a hundred years old? 175 00:17:39,159 --> 00:17:41,599 Obviously, I'm aware of that. Fuck! 176 00:17:44,319 --> 00:17:47,220 But that's him. He looked like that. 177 00:17:47,320 --> 00:17:49,300 Long hair, gaunt face. 178 00:17:49,400 --> 00:17:51,400 (GABBY SPEAKING FRENCH) 179 00:18:04,962 --> 00:18:06,962 (LECLERC SPEAKING FRENCH) 180 00:18:08,282 --> 00:18:10,282 (GABBY SPEAKING FRENCH) 181 00:18:12,162 --> 00:18:14,162 (LECLERC SPEAKING FRENCH) 182 00:18:22,003 --> 00:18:24,003 Forty-two million Euro. 183 00:18:28,404 --> 00:18:30,704 Yeah, it's a good price. 184 00:18:30,804 --> 00:18:35,145 Because I grew up in Geneva, you know, and now, 185 00:18:35,245 --> 00:18:37,305 I can't afford that because 186 00:18:37,405 --> 00:18:40,565 I'm living outside and driving to work. 187 00:18:42,125 --> 00:18:43,345 (PARAMEDIC SPEAKING FRENCH) 188 00:18:43,445 --> 00:18:45,446 GABBY: Come on, let's go. 189 00:18:45,846 --> 00:18:47,846 Just get off me please. 190 00:18:54,207 --> 00:18:56,207 (RADIO CHATTER) 191 00:19:07,808 --> 00:19:09,708 Merci, Inspector. 192 00:19:09,808 --> 00:19:11,808 LECLERC: Bon courage. 193 00:19:47,012 --> 00:19:49,012 (MARIE SPEAKING) 194 00:19:51,052 --> 00:19:53,052 (LECLERC SPEAKING) 195 00:19:55,213 --> 00:19:57,213 (MARIE SPEAKING) 196 00:20:02,733 --> 00:20:04,774 GABBY: Alex, you have to take it easy. 197 00:20:06,974 --> 00:20:08,974 Who are you calling? 198 00:20:09,614 --> 00:20:11,034 Hugo. 199 00:20:11,134 --> 00:20:12,794 He needs to know what happened. 200 00:20:12,894 --> 00:20:14,875 I really don't think he needs to come to the hospital, though. 201 00:20:14,975 --> 00:20:16,555 HUGO: Alex? It's 5am. 202 00:20:16,655 --> 00:20:17,995 We had a break in at the house. 203 00:20:18,095 --> 00:20:20,675 What? Yeah. We're all fine. 204 00:20:20,775 --> 00:20:24,596 I just got a knock to the head, so, we're in an ambulance. 205 00:20:24,696 --> 00:20:26,836 Which hospital? 206 00:20:26,936 --> 00:20:29,296 University. I'll be there. 207 00:20:42,898 --> 00:20:44,898 (LECLERC SPEAKING) 208 00:20:54,139 --> 00:20:56,139 MARIE: Ah oui, d'accord. 209 00:20:56,939 --> 00:20:58,939 (LECLERC SPEAKING) 210 00:22:06,706 --> 00:22:08,706 Gabby? 211 00:22:10,306 --> 00:22:12,547 A genuine patient? Oui. 212 00:22:15,267 --> 00:22:16,727 This is my husband, Alex. 213 00:22:16,827 --> 00:22:18,687 This is Fabian Tallon, the duty technician. 214 00:22:18,787 --> 00:22:20,087 Do you remember I told you about him? 215 00:22:20,187 --> 00:22:22,728 He helped me with the scans for the exhibition. Remember? 216 00:22:22,828 --> 00:22:24,648 Yeah, I remember. 217 00:22:24,748 --> 00:22:26,328 Thank you for everything you've done for my wife. 218 00:22:26,428 --> 00:22:29,288 Oh, it's been a pleasure. 219 00:22:29,388 --> 00:22:31,709 Now Alex, let's see what we can do for you. 220 00:22:38,669 --> 00:22:40,329 Alex? 221 00:22:40,429 --> 00:22:42,430 What? 222 00:22:43,510 --> 00:22:44,890 I'm sorry, what did you say? 223 00:22:44,990 --> 00:22:46,130 Can you stand up for me please? 224 00:22:46,230 --> 00:22:48,230 Of course. 225 00:23:08,112 --> 00:23:10,112 TALLON: It won't take long. 226 00:23:11,833 --> 00:23:13,173 It's going to be okay. 227 00:23:13,273 --> 00:23:15,353 ALEX: I hate these things. 228 00:23:18,873 --> 00:23:21,174 TALLON: Have you missed our conversations? 229 00:23:21,274 --> 00:23:23,274 GABBY: Yes, I have. 230 00:23:23,714 --> 00:23:25,714 (MACHINE WHIRRING) 231 00:23:31,155 --> 00:23:33,875 Alex? Alex, can you hear me? 232 00:23:36,475 --> 00:23:38,775 Can you hear me? Yeah. 233 00:23:38,875 --> 00:23:41,476 Okay. I need you to keep as still as possible. 234 00:23:43,996 --> 00:23:45,996 (MACHINE WHIRRING) 235 00:23:49,957 --> 00:23:53,877 TALLON: Alex, stop moving. Head back up, please. 236 00:24:04,678 --> 00:24:06,678 (SHUDDERING) 237 00:24:10,039 --> 00:24:12,039 (ALARM BLARING) 238 00:24:22,520 --> 00:24:25,200 Please get me out now! Okay. Okay. 239 00:24:28,200 --> 00:24:30,201 TALLON: Forget this. 240 00:24:39,362 --> 00:24:42,662 DR. DUFONT: No evidence of fracture and no swelling 241 00:24:42,762 --> 00:24:45,462 which is the most important thing. 242 00:24:45,562 --> 00:24:50,303 But you see these tiny haemorrhages in the brain tissue 243 00:24:50,403 --> 00:24:52,143 GABBY: Serious? Not necessarily. 244 00:24:52,243 --> 00:24:54,143 But I'd like to do an MRI. 245 00:24:54,243 --> 00:24:56,263 Get a clearer image of the soft tissue. 246 00:24:56,363 --> 00:24:59,264 Tell us whether or not it's related to the attack 247 00:24:59,364 --> 00:25:01,644 or is a pre-existing condition. 248 00:25:02,444 --> 00:25:03,624 How long will that take? 249 00:25:03,724 --> 00:25:06,424 It depends when the scanner's available. 250 00:25:06,524 --> 00:25:09,105 We might be able to use it around noon. 251 00:25:09,205 --> 00:25:11,185 As long as there's no emergency. 252 00:25:11,285 --> 00:25:12,945 GABBY: Sorry, is this not an emergency? 253 00:25:13,045 --> 00:25:15,045 There's no immediate danger. No. 254 00:25:16,405 --> 00:25:19,106 Then I'd like to be discharged. GABBY: No, no, no. 255 00:25:19,206 --> 00:25:20,386 You are having this scan. 256 00:25:20,486 --> 00:25:21,986 DR. DUFONT: Monsieur. 257 00:25:22,086 --> 00:25:23,866 Anyone who's been knocked unconscious 258 00:25:23,966 --> 00:25:25,186 as you have 259 00:25:25,286 --> 00:25:27,946 should be kept under observation for 24 hours. 260 00:25:28,046 --> 00:25:29,507 You just said there was no emergency, 261 00:25:29,607 --> 00:25:31,947 so, there's no immediate danger. Correct? 262 00:25:32,047 --> 00:25:33,427 My advice would be 263 00:25:33,527 --> 00:25:35,707 to take this to your doctor as soon as possible. Okay. 264 00:25:35,807 --> 00:25:38,848 Sorry. But, why? Is there a tumour or something? 265 00:25:39,928 --> 00:25:41,668 I can't say for sure. 266 00:25:41,768 --> 00:25:45,948 That's why you need an MRI. To rule out a few things. 267 00:25:46,048 --> 00:25:47,228 Like what? 268 00:25:47,328 --> 00:25:50,429 Dementia, MS? What? 269 00:25:50,529 --> 00:25:53,529 You are having a scan and you are not going to the office. 270 00:25:54,569 --> 00:25:57,269 I will have the scan. But tomorrow. 271 00:25:57,369 --> 00:25:58,590 You have to get to the gallery. 272 00:25:58,690 --> 00:26:00,790 You've been working on this exhibition for months. 273 00:26:00,890 --> 00:26:03,830 Okay. Look at me, I'm fine. 274 00:26:03,930 --> 00:26:06,150 You've seen the scan, there's no swelling, 275 00:26:06,250 --> 00:26:07,550 there's no fracture. 276 00:26:07,650 --> 00:26:11,511 And no bloody common sense. That wound must be stitched. 277 00:26:11,611 --> 00:26:13,911 And you need to sign a form releasing the hospital 278 00:26:14,011 --> 00:26:16,511 from all responsibility if you decide to leave. 279 00:26:16,611 --> 00:26:17,912 Fine. 280 00:26:18,012 --> 00:26:20,112 HUGO: Well then, professor, let's get you stitched up. 281 00:26:20,212 --> 00:26:22,532 We don't want that brain falling out now, do we? 282 00:26:31,093 --> 00:26:32,153 Thank you, Doctor. 283 00:26:32,253 --> 00:26:34,253 (INDISTINCT CHATTERING) 284 00:26:35,093 --> 00:26:37,314 Hugo, please. 285 00:26:37,414 --> 00:26:40,474 They said he needs to be observed for at least 24 hours. 286 00:26:40,574 --> 00:26:42,754 Gabby, I wouldn't dream of telling Alex what to do. 287 00:26:42,854 --> 00:26:45,694 If he wants to go to the office I couldn't stop him if I tried. 288 00:26:47,535 --> 00:26:48,955 This pitch is worth a hell of a lot. 289 00:26:49,055 --> 00:26:50,755 You could always do it. 290 00:26:50,855 --> 00:26:52,555 Oh, no you can't, 291 00:26:52,655 --> 00:26:55,575 cos you're just good at counting all the cash he makes you. 292 00:27:16,738 --> 00:27:17,958 (KNOCKING) 293 00:27:18,058 --> 00:27:20,218 DR. DUFONT: Dr. Hoffman, are you all right? 294 00:27:21,858 --> 00:27:23,858 Just a minute. 295 00:27:29,299 --> 00:27:31,299 Your CT scan results. 296 00:27:33,259 --> 00:27:35,319 Take it from me, 297 00:27:35,419 --> 00:27:37,740 it is always the unknown that is most frightening. 298 00:27:39,500 --> 00:27:41,500 See your doctor, Monsieur. 299 00:27:56,582 --> 00:27:58,522 GABBY: I know when you're not fine. 300 00:27:58,622 --> 00:28:00,202 My love, I really think your health 301 00:28:00,302 --> 00:28:02,302 is more important than a pitch. 302 00:28:02,662 --> 00:28:04,662 Don't worry, I'll look after him. 303 00:28:30,345 --> 00:28:31,805 GABBY: Alex, what's wrong? 304 00:28:31,905 --> 00:28:33,365 Nothing. 305 00:28:33,465 --> 00:28:36,166 I think the anaesthetic is just wearing off. 306 00:28:36,266 --> 00:28:38,266 It stings a little. 307 00:28:38,746 --> 00:28:40,846 Turn the radio up will you, Claude. 308 00:28:40,946 --> 00:28:43,026 (CAR STEREO VOLUME INCREASES) 309 00:28:46,147 --> 00:28:48,787 (OPERA PLAYING) 310 00:29:01,188 --> 00:29:03,208 LECLERC: Bonjour. 311 00:29:03,308 --> 00:29:04,928 Bonjour. May I help you? 312 00:29:05,028 --> 00:29:06,649 Yeah. Inspector Jean-Phillipe Leclerc. 313 00:29:06,749 --> 00:29:10,369 I am leading the investigation into Dr. Hoffman's attack. 314 00:29:10,469 --> 00:29:12,929 Any progress? Yeah. Working on it. 315 00:29:13,029 --> 00:29:15,030 Try not to worry. 316 00:29:16,310 --> 00:29:17,730 We're quite busy today, 317 00:29:17,830 --> 00:29:19,830 so I'll make sure Dr. Hoffman calls you as soon as possible. 318 00:29:20,510 --> 00:29:22,210 I'll see you in a couple of hours. 319 00:29:22,310 --> 00:29:24,470 You look after yourself, okay? 320 00:29:26,431 --> 00:29:28,211 Can I give you my card? 321 00:29:28,311 --> 00:29:30,311 Oui. Yeah. 322 00:29:32,151 --> 00:29:34,151 Thank you. 323 00:29:37,192 --> 00:29:39,972 Now this little group of investors we've put together 324 00:29:40,072 --> 00:29:43,732 could buy out all our other investors five times over. 325 00:29:43,832 --> 00:29:45,013 RECEPTIONIST: Good morning, gentlemen. 326 00:29:45,113 --> 00:29:46,493 Morning, Claire. Claire. 327 00:29:46,593 --> 00:29:48,213 I need to go find Genoud. 328 00:29:48,313 --> 00:29:49,853 All in good time, Alex. 329 00:29:49,953 --> 00:29:52,453 We can't afford to assume we've already got their investments. 330 00:29:52,553 --> 00:29:53,653 Let's not be complacent. 331 00:29:53,753 --> 00:29:55,454 I'm not complacent, I'm confident. 332 00:29:55,554 --> 00:29:57,934 And, Hugo. I'm serious. 333 00:29:58,034 --> 00:29:59,894 I'll be at Gabby's opening. 334 00:29:59,994 --> 00:30:01,454 Till then, do your worst. 335 00:30:01,554 --> 00:30:03,294 HUGO: Now let me talk you through who's coming. 336 00:30:03,394 --> 00:30:05,175 Eight investors, all existing clients. 337 00:30:05,275 --> 00:30:07,855 Four institutions and two family offices. 338 00:30:07,955 --> 00:30:10,415 Now they're due in an hour-and-a-half, right? 339 00:30:10,515 --> 00:30:12,055 So, I'll introduce you. 340 00:30:12,155 --> 00:30:13,415 You walk them through the basic principles 341 00:30:13,515 --> 00:30:16,416 in a language they'll understand please, professor. 342 00:30:16,516 --> 00:30:18,856 And after that we'll show them the hardware 343 00:30:18,956 --> 00:30:20,956 and I'll make the pitch. 344 00:30:22,036 --> 00:30:23,416 And last but not least, 345 00:30:23,516 --> 00:30:25,097 we'll take them out to lunch at the Beau Valais. 346 00:30:25,197 --> 00:30:27,377 By which point I'd like us all to be five billion better off. 347 00:30:27,477 --> 00:30:28,737 But I'll settle for four point five. 348 00:30:28,837 --> 00:30:30,577 Commission of two and twenty, all right? 349 00:30:30,677 --> 00:30:34,318 Ah! Monsieur Genoud! A word. 350 00:30:36,838 --> 00:30:39,278 Best system money can buy. 351 00:30:39,878 --> 00:30:41,298 That's what you said. 352 00:30:41,398 --> 00:30:43,979 So, you're responsible for security, Genoud, 353 00:30:44,079 --> 00:30:45,779 at the office and at our homes. 354 00:30:45,879 --> 00:30:48,739 GENOUD: This building is as well protected as any in Geneva. 355 00:30:48,839 --> 00:30:51,579 As for your home, the system wasn't breached. 356 00:30:51,679 --> 00:30:53,680 The intruder must have known the codes. 357 00:30:55,360 --> 00:30:57,140 I do the best I can, Dr. Hoffman, 358 00:30:57,240 --> 00:31:00,100 but no security system in the world can protect against that. 359 00:31:00,200 --> 00:31:01,540 HUGO: Yes, but, apart from Alex and Gabby, 360 00:31:01,640 --> 00:31:03,821 the only other person who knew those codes was you. 361 00:31:03,921 --> 00:31:05,821 GENOUD: None of my staff have access to those codes. 362 00:31:05,921 --> 00:31:07,581 And if they did 363 00:31:07,681 --> 00:31:09,221 they wouldn't be able to decipher them 364 00:31:09,321 --> 00:31:11,101 because they are encrypted. No leak came from me. 365 00:31:11,201 --> 00:31:13,262 I guess we'll just have to take your word for that, won't we? 366 00:31:13,362 --> 00:31:14,982 HUGO: All right, until this man is caught 367 00:31:15,082 --> 00:31:20,542 the priority is arranging proper protection for Alex, yes? 368 00:31:20,642 --> 00:31:22,382 A permanent guard is already at the house. 369 00:31:22,482 --> 00:31:25,383 When Dr. Hoffman leaves this building for his home. 370 00:31:25,483 --> 00:31:27,463 I would suggest he is covered by a security guard 371 00:31:27,563 --> 00:31:29,563 with counter-terrorism training. 372 00:31:30,883 --> 00:31:32,063 Counter-terrorism? 373 00:31:32,163 --> 00:31:33,984 Yes, if you or Gabby were kidnapped, 374 00:31:34,084 --> 00:31:35,384 you'd command a pretty high ransom, 375 00:31:35,484 --> 00:31:37,644 so I say let's do whatever it takes to protect you. 376 00:31:39,084 --> 00:31:41,504 All right. But I want Gabby to have whatever I have. 377 00:31:41,604 --> 00:31:43,605 She's worth more than me. 378 00:31:45,605 --> 00:31:47,605 That's all for now, thank you. 379 00:31:50,605 --> 00:31:52,385 Dr. Hoffman, I know Leclerc, 380 00:31:52,485 --> 00:31:53,946 the detective leading this investigation. 381 00:31:54,046 --> 00:31:55,306 Okay. 382 00:31:55,406 --> 00:31:57,526 May I ask, have you told him everything? 383 00:32:00,086 --> 00:32:02,186 Of course. 384 00:32:02,286 --> 00:32:04,287 Absolutely everything? 385 00:32:11,047 --> 00:32:13,548 Yes. What are you implying? 386 00:32:13,648 --> 00:32:15,648 That's enough now, Maurice. 387 00:32:24,089 --> 00:32:25,949 What the hell's he talking about? 388 00:32:26,049 --> 00:32:27,709 Look, I need you to start focusing. 389 00:32:27,809 --> 00:32:29,229 Do you trust him? 390 00:32:29,329 --> 00:32:31,589 If he wanted to do something to you or Gabby, 391 00:32:31,689 --> 00:32:33,750 if he wanted to steal from you, he would have done it already. 392 00:32:33,850 --> 00:32:36,290 And he would have been very good at it. 393 00:32:40,770 --> 00:32:42,111 (SIGHS) 394 00:32:42,211 --> 00:32:43,471 I could do without the lunch. 395 00:32:43,571 --> 00:32:45,191 We've waited a year for this. 396 00:32:45,291 --> 00:32:47,291 Remember the end game. 397 00:32:48,891 --> 00:32:50,891 Yep. 398 00:32:51,932 --> 00:32:52,952 (CLEARS THROAT) 399 00:32:53,052 --> 00:32:55,592 Now maybe take a shower and comb your hair. 400 00:32:55,692 --> 00:32:57,512 They want brilliant and eccentric, 401 00:32:57,612 --> 00:32:59,612 but not completely mad. 402 00:33:21,695 --> 00:33:22,915 Jesus! 403 00:33:23,015 --> 00:33:24,715 I did knock. 404 00:33:24,815 --> 00:33:28,655 I just wanted to know if you'd like anything done before I go. 405 00:33:29,535 --> 00:33:31,396 Oh. 406 00:33:31,496 --> 00:33:33,736 You keep a record of... 407 00:33:35,576 --> 00:33:37,796 the security codes for my house, don't you? 408 00:33:37,896 --> 00:33:39,156 Yes, Dr. Hoffman. 409 00:33:39,256 --> 00:33:41,157 Where do you keep them? On my computer, 410 00:33:41,257 --> 00:33:44,317 but I can't open the file. Only you can do that. 411 00:33:44,417 --> 00:33:46,117 Does anyone else have access to that computer? 412 00:33:46,217 --> 00:33:48,517 Certainly not. Not even your husband? 413 00:33:48,617 --> 00:33:50,617 My husband died last year. 414 00:33:53,058 --> 00:33:55,058 Yes... 415 00:33:56,338 --> 00:33:58,378 I'm sorry. I... 416 00:33:59,898 --> 00:34:01,799 Someone broke into the house last night 417 00:34:01,899 --> 00:34:05,659 and they... The police say the intruder had the codes... I'm... 418 00:34:07,299 --> 00:34:10,359 I'm sorry. That's okay. 419 00:34:10,459 --> 00:34:12,940 If you'd like anything else, let me know. 420 00:34:13,660 --> 00:34:15,660 ALEX: Okay. 421 00:34:17,940 --> 00:34:19,940 Fuck! 422 00:34:32,582 --> 00:34:34,582 BOOKSELLER: Goede morgen . Rosengaarden. 423 00:34:35,462 --> 00:34:38,322 Goede morgen. Do you speak English? 424 00:34:38,422 --> 00:34:40,423 Yes, how can I help you? 425 00:34:41,383 --> 00:34:42,883 I believe you sent me a book. 426 00:34:42,983 --> 00:34:44,923 My name is Alexander Hoffman, I live in Geneva. 427 00:34:45,023 --> 00:34:46,843 BOOKSELLER: Dr. Hoffman! Of course, I remember, 428 00:34:46,943 --> 00:34:49,403 it was a Darwin first edition. A beautiful book. 429 00:34:49,503 --> 00:34:51,764 Is something wrong? A problem with the delivery or-- 430 00:34:51,864 --> 00:34:53,924 No. I received it. I just, 431 00:34:54,024 --> 00:34:56,284 it didn't come with a note and I want to thank 432 00:34:56,384 --> 00:34:59,084 whoever bought it for me. 433 00:34:59,184 --> 00:35:01,885 Could you provide that information? 434 00:35:01,985 --> 00:35:04,625 BOOKSELLER: But, you bought it, Dr. Hoffman. 435 00:35:05,305 --> 00:35:07,445 No, that's... 436 00:35:07,545 --> 00:35:09,886 no, I didn't buy the book. 437 00:35:09,986 --> 00:35:13,166 BOOKSELLER: Dr. Hoffman, I have the order form in front of me. 438 00:35:13,266 --> 00:35:14,486 You bought the book. 439 00:35:14,586 --> 00:35:16,566 I assure you I did not. 440 00:35:16,666 --> 00:35:18,326 BOOKSELLER: Is there any way you could have confused 441 00:35:18,426 --> 00:35:20,087 this purchase with another item? 442 00:35:20,187 --> 00:35:22,587 No, no, no. I... 443 00:35:25,907 --> 00:35:28,607 can you tell me how I paid for the book? 444 00:35:28,707 --> 00:35:30,708 BOOKSELLER: A bank transfer. 445 00:35:31,228 --> 00:35:32,608 How much? 446 00:35:32,708 --> 00:35:34,708 BOOKSELLER: Ten thousand Euros. 447 00:35:38,548 --> 00:35:41,409 Okay. Who did I speak to when I bought the book? 448 00:35:41,509 --> 00:35:43,509 BOOKSELLER: You ordered by email. 449 00:35:50,830 --> 00:35:53,310 When? May 3rd. 450 00:35:56,470 --> 00:35:58,210 No, I'm looking at my emails now 451 00:35:58,310 --> 00:36:00,311 and I don't see an email to you. 452 00:36:01,431 --> 00:36:03,411 BOOKSELLER: Perhaps you have another computer? 453 00:36:03,511 --> 00:36:04,971 Could you have sent it from home? 454 00:36:05,071 --> 00:36:07,071 No. 455 00:36:15,312 --> 00:36:16,892 Are you still there, Dr. Hoffman? 456 00:36:16,992 --> 00:36:18,573 Yes. 457 00:36:18,673 --> 00:36:21,813 Yes. Do you have an account number for that transaction? 458 00:36:21,913 --> 00:36:24,373 I'm sorry, but I can't disclose that information. 459 00:36:24,473 --> 00:36:26,573 Why not, it's my account, isn't it? 460 00:36:26,673 --> 00:36:28,774 I cannot give that information over the phone. 461 00:36:28,874 --> 00:36:32,214 But I could send it to the email address given on the order. 462 00:36:32,314 --> 00:36:34,254 Great. Could you please do that? 463 00:36:34,354 --> 00:36:36,874 Thank you. I'll send the email. Goodbye. 464 00:37:04,957 --> 00:37:08,258 DR. DUFONT: The tiny haemorrhages in the brain tissue. 465 00:37:08,358 --> 00:37:10,358 I'd like to do an MRI... 466 00:37:12,558 --> 00:37:14,458 My advice would be to take this 467 00:37:14,558 --> 00:37:16,758 to your doctor as soon as possible. 468 00:37:19,759 --> 00:37:21,059 Take it from me, 469 00:37:21,159 --> 00:37:23,259 it is always the unknown that is most frightening. 470 00:37:23,359 --> 00:37:25,359 See your doctor, monsieur. 471 00:37:58,843 --> 00:38:00,843 (INDISTINCT CHATTERING) 472 00:38:05,283 --> 00:38:06,904 If they want to go for eight, that's fine. 473 00:38:07,004 --> 00:38:08,384 I'll call you back. Lin. 474 00:38:08,484 --> 00:38:10,464 I need you to check an account number for me. 475 00:38:10,564 --> 00:38:12,744 Looks like a Cayman Island's US dollar account. 476 00:38:12,844 --> 00:38:14,104 Is it a company account? 477 00:38:14,204 --> 00:38:16,104 Forward it to me and I'll run it through the system. 478 00:38:16,204 --> 00:38:17,585 What's this got to do with? 479 00:38:17,685 --> 00:38:20,105 I just need to know who's it is. And keep it to yourself. Okay? 480 00:38:20,205 --> 00:38:22,065 All right. Alex, has Marieme spoken to you? 481 00:38:22,165 --> 00:38:23,385 No. Why? 482 00:38:23,485 --> 00:38:26,065 You authorised a big short on Vista Airways last night. 483 00:38:26,165 --> 00:38:28,466 It's in direct opposition to the trend and Marieme's worried, 484 00:38:28,566 --> 00:38:30,266 wants to call a risk committee meeting. 485 00:38:30,366 --> 00:38:31,906 She's saying our risk limit's been breached. 486 00:38:32,006 --> 00:38:34,006 Tell her to talk to Hugo, okay? 487 00:38:34,686 --> 00:38:36,687 Okay. 488 00:38:41,727 --> 00:38:43,727 (SIGHS) 489 00:39:07,050 --> 00:39:09,050 MARIE-CLAUDE: Dr. Hoffman. 490 00:39:10,770 --> 00:39:12,770 They're waiting for you in the boardroom. 491 00:39:15,530 --> 00:39:17,531 What time is it? Almost eleven. 492 00:39:25,291 --> 00:39:27,392 Are you all right? 493 00:39:27,492 --> 00:39:29,792 Just tell Hugo I'll be a few minutes, okay? 494 00:39:29,892 --> 00:39:31,892 MARIE-CLAUDE: Okay. 495 00:40:04,815 --> 00:40:06,236 I need a word, now. 496 00:40:06,336 --> 00:40:07,736 Marieme, it'll have to wait till after the presentation. 497 00:40:07,816 --> 00:40:09,716 It's urgent. Not now. 498 00:40:09,816 --> 00:40:11,956 You authorised a short on Vista Airways! 499 00:40:12,056 --> 00:40:14,056 Listen, not now! Okay? 500 00:40:23,937 --> 00:40:25,478 Here he is at last, 501 00:40:25,578 --> 00:40:28,578 the president of Hoffman Investment Technologies. 502 00:40:39,219 --> 00:40:41,239 Well, as I was saying, 503 00:40:41,339 --> 00:40:43,439 it's been nearly eight years 504 00:40:43,539 --> 00:40:45,640 since Alex and I first set up shop. 505 00:40:45,740 --> 00:40:48,440 And in that time, you've all seen your net worth increase 506 00:40:48,540 --> 00:40:49,840 by eighty-three percent. 507 00:40:49,940 --> 00:40:52,240 So, you already know that bringing your money to us 508 00:40:52,340 --> 00:40:54,200 was the smart thing to do. 509 00:40:54,300 --> 00:40:55,681 About 18 months ago, 510 00:40:55,781 --> 00:40:58,881 Alex and his team made a technological breakthrough, 511 00:40:58,981 --> 00:41:01,481 for want of better words. 512 00:41:01,581 --> 00:41:03,721 As a result, we had to hard-close the fund. 513 00:41:03,821 --> 00:41:06,242 Some of you were very disappointed. 514 00:41:06,342 --> 00:41:07,402 But we had to do it 515 00:41:07,502 --> 00:41:10,042 because we had to be absolutely sure 516 00:41:10,142 --> 00:41:12,122 that increasing the size of our fund 517 00:41:12,222 --> 00:41:14,523 would not decrease our performance. 518 00:41:14,623 --> 00:41:17,883 Well, it pleases me greatly to tell you that VIXAL-4 519 00:41:17,983 --> 00:41:21,603 is now robust enough to support portfolio expansion 520 00:41:21,703 --> 00:41:25,584 from our most important existing clients. 521 00:41:27,904 --> 00:41:32,544 Now I'd like to hand you over to Doctor Alex Hoffman. 522 00:41:50,426 --> 00:41:52,426 Around 350 BC, 523 00:41:53,587 --> 00:41:55,247 Aristotle defined human beings 524 00:41:55,347 --> 00:41:57,587 as "the animal that has language." 525 00:41:59,347 --> 00:42:02,447 Language, above all, is what differentiates us 526 00:42:02,547 --> 00:42:04,688 from the other creatures on the planet. 527 00:42:04,788 --> 00:42:08,848 The development of language freed us from 528 00:42:08,948 --> 00:42:10,368 a world of physical objects 529 00:42:10,468 --> 00:42:14,389 and substituted a universe of symbols. 530 00:42:15,029 --> 00:42:16,609 For over 50,000 years 531 00:42:16,709 --> 00:42:20,089 only humans were "the animal with language." 532 00:42:20,189 --> 00:42:22,929 But now, for the very first time that is no longer the case. 533 00:42:23,029 --> 00:42:25,250 We share our world with computers. 534 00:42:25,350 --> 00:42:27,990 Everywhere we go, we leave a digital trail. 535 00:42:29,550 --> 00:42:31,810 All that data can be read and analysed. 536 00:42:31,910 --> 00:42:33,851 But here's the thing. 537 00:42:33,951 --> 00:42:38,091 We still read at the same rate as Aristotle did. 538 00:42:38,191 --> 00:42:39,291 The average American college student 539 00:42:39,391 --> 00:42:41,671 only reads 450 words a minute. 540 00:42:43,592 --> 00:42:49,372 A computer can perform trillions of calculations every second. 541 00:42:49,472 --> 00:42:53,053 There's a physical limit to how much we can, as a species, 542 00:42:53,153 --> 00:42:55,373 process and absorb. 543 00:42:55,473 --> 00:42:57,893 But there's no such limit for computers, 544 00:42:57,993 --> 00:43:01,453 as long as we give them enough processing power and memory. 545 00:43:01,553 --> 00:43:04,914 And on top of that, algorithms don't have imagination. 546 00:43:08,834 --> 00:43:14,455 They don't give in to panic, unlike humans. 547 00:43:14,555 --> 00:43:19,315 So, that makes them ideally suited to trading, 548 00:43:19,995 --> 00:43:21,995 in the financial markets. 549 00:43:23,356 --> 00:43:25,616 With our new generation of VIXAL, 550 00:43:25,716 --> 00:43:28,616 we were able to isolate, measure 551 00:43:28,716 --> 00:43:32,297 and factor in to our market calculations, 552 00:43:32,397 --> 00:43:35,737 the element of price that derives entirely 553 00:43:35,837 --> 00:43:36,857 from human behaviour. 554 00:43:36,957 --> 00:43:41,177 We built an algorithm that can adapt 555 00:43:41,277 --> 00:43:45,378 its strategy and that's what gives it a competitive edge. 556 00:43:45,478 --> 00:43:48,138 So basically, this is just behavioural finance? 557 00:43:48,238 --> 00:43:51,498 You're going to analyse every aspect of human behaviour in the markets. 558 00:43:51,598 --> 00:43:54,479 That would be impossible, as you well know. 559 00:43:54,879 --> 00:43:56,219 No. 560 00:43:56,319 --> 00:43:57,419 The solution was to choose 561 00:43:57,519 --> 00:43:59,899 one emotion for which we have substantive data. 562 00:43:59,999 --> 00:44:02,000 Which is? Fear. 563 00:44:04,240 --> 00:44:09,340 Fear is historically the strongest emotion, in economics. 564 00:44:09,440 --> 00:44:12,341 Remember FDR during the Great Depression? 565 00:44:12,441 --> 00:44:15,301 The most famous financial quote of all time. 566 00:44:15,401 --> 00:44:18,501 "The only thing we have to fear is fear itself." 567 00:44:18,601 --> 00:44:23,182 In fact, fear is probably the strongest human emotion, period. 568 00:44:23,282 --> 00:44:24,982 No one wakes up at four in the morning 569 00:44:25,082 --> 00:44:27,302 because they're happy, do they? 570 00:44:27,402 --> 00:44:30,422 Children leave the light on because they fear the dark. 571 00:44:30,522 --> 00:44:33,183 We put our money in a safe 572 00:44:33,283 --> 00:44:35,023 because we fear it being stolen. 573 00:44:35,123 --> 00:44:37,123 We act on fear. 574 00:44:37,683 --> 00:44:39,463 With VIXAL, we are able to correlate 575 00:44:39,563 --> 00:44:42,024 recent market fluctuations with the frequency 576 00:44:42,124 --> 00:44:44,024 of fear-related words in the media 577 00:44:44,124 --> 00:44:45,664 and the conclusion we've drawn 578 00:44:45,764 --> 00:44:48,924 is that fear is driving the world like never before. 579 00:44:52,045 --> 00:44:54,465 The success we've had at this firm speaks for itself. 580 00:44:54,565 --> 00:44:56,465 The market has endured two years of panic 581 00:44:56,565 --> 00:44:58,665 which has made our algorithm thrive, 582 00:44:58,765 --> 00:45:00,746 because humans act 583 00:45:00,846 --> 00:45:04,466 in very predictable ways when they're frightened. 584 00:45:04,566 --> 00:45:07,846 And we've only gone and found a way to make money out of it. 585 00:45:08,366 --> 00:45:09,866 (CHUCKLING) 586 00:45:09,966 --> 00:45:13,407 So, without further ado, shall we make our way downstairs? 587 00:45:36,369 --> 00:45:38,689 All good? Yeah. 588 00:45:47,450 --> 00:45:49,270 So, as most of you will be aware, 589 00:45:49,370 --> 00:45:51,191 the Chicago Board of Exchange operates what's known 590 00:45:51,291 --> 00:45:54,871 as the S&P 500 Volatility index, or VIX. 591 00:45:54,971 --> 00:45:55,871 It's essentially a ticker, 592 00:45:55,971 --> 00:45:57,971 tracking the price of options on stocks 593 00:45:58,331 --> 00:45:59,872 traded in the S&P 500 594 00:45:59,972 --> 00:46:02,272 and it shows the implied 595 00:46:02,372 --> 00:46:04,592 volatility of the market in the coming month. 596 00:46:04,692 --> 00:46:07,472 The higher the index, the greater the uncertainty, 597 00:46:07,572 --> 00:46:12,353 which is why traders call it "the fear index." 598 00:46:12,453 --> 00:46:14,273 So, the VIX was our starting point. 599 00:46:14,373 --> 00:46:17,433 Which gives us a mass of data going back to 1993 600 00:46:17,533 --> 00:46:19,353 which we then pair with new behavioural indices 601 00:46:19,453 --> 00:46:21,994 which we've compiled, and bring that all together 602 00:46:22,094 --> 00:46:23,474 with existing methodology. 603 00:46:23,574 --> 00:46:25,434 And we started with VIXAL-1 604 00:46:25,534 --> 00:46:28,234 now we're up to our fourth iteration, VIXAL-4. 605 00:46:28,334 --> 00:46:29,555 BILL: Is this thing operational? 606 00:46:29,655 --> 00:46:32,235 VIXAL-4 took control of the entire fund a week ago. 607 00:46:32,335 --> 00:46:33,475 And? 608 00:46:33,575 --> 00:46:36,355 Well, as of last night, it was up about 609 00:46:36,455 --> 00:46:38,455 seventy-nine point seven million. 610 00:46:40,456 --> 00:46:42,276 I thought you said it had only been running a week? 611 00:46:42,376 --> 00:46:44,556 Oh, I did, Bill. But that-- 612 00:46:44,656 --> 00:46:46,556 That means that on a ten-billion-dollar fund, 613 00:46:46,656 --> 00:46:49,056 you're looking at a profit of four point one four billion a year. 614 00:46:51,177 --> 00:46:53,177 Thereabouts. 615 00:46:54,217 --> 00:46:55,597 HUGO: You can see why we've decided 616 00:46:55,697 --> 00:46:57,997 it's time to bring in more investment. 617 00:46:58,097 --> 00:47:00,238 We need to exploit the hell out of this thing 618 00:47:00,338 --> 00:47:03,718 before anyone develops a clone strategy. 619 00:47:03,818 --> 00:47:07,058 Perhaps now would be a good time to show you VIXAL-4 in action? 620 00:47:26,580 --> 00:47:28,120 MARIE: Jean-Phillipe. 621 00:47:28,220 --> 00:47:30,221 Oui. 622 00:47:31,341 --> 00:47:33,341 (CONVERSING IN FRENCH) 623 00:47:48,222 --> 00:47:49,723 Ah, bon? 624 00:47:49,823 --> 00:47:51,823 (MARIE SPEAKING)