The dynamics of supersymmetric black holes in the small velocity
approximation can be described by geodesics in their moduli spaces. The black hole moduli spaces exhibit novel geometries which can be understood in the context of supersymmetric one-dimensional sigma models. As examples, the geometry's of the moduli spaces of supergravity five-dimensional black holes which preserve 1/4 and 1/8 of supersymmetry will be presented.