- #THE WOLF OF WALL STREET (BOOK) HOW TO#
- #THE WOLF OF WALL STREET (BOOK) MOVIE#
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Unless and until you sell your assets and lock in your (hopefully) gains, you have nothing more than a bunch of eye-popping numbers ON PAPER. Those glowing reports about how much Americans’ wealth had ballooned prior to the financial crash were pure fiction. (You can save 27% when you buy it today on our website.) I devote an entire chapter to this in my new book, The Bank On Yourself Revolution, which hits the stands on Tuesday. Our clients make money (pauses for dramatic effect) -ON PAPER- while we take our commissions out in cold, hard cash”Īnd that’s the critical difference Wall Street hopes you never figure out. They always get paid, whether we win or lose. Like thinking that being a stockbroker is a win-win, because if the client makes money, the broker makes money.īelfort quickly learns that nobody knows what direction any stock will go.Īnd then Belfort gets let in on the big secret: Now for the Best 10 Seconds in the MovieĪnyway, on Belfort’s first day as a broker at the big, prestigious Wall Street firm, the head of the company (played masterfully by Matthew McConaughey) takes him to lunch at the 5-star restaurant on the top floor of the building, to rid him of his naïve beliefs. Nothing has really changed on Wall Street, as I reveal in the article I wrote this summer, “ A Month of Scams and Scandals on Wall Street.” And JP Morgan Chase just gave a 74% raise to Chief Jamie Dimon in a year in which the bank paid more than $20 BILLION in fines and other legal costs.
#THE WOLF OF WALL STREET (BOOK) HOW TO#
He was also barred from the securities industry for life.īelieve it or not, today Belfort gets paid big bucks by major corporations to teach their sales reps “the art of Straight Line Persuasion – how to create instant rapport, control the sales conversation and close every single deal that’s closeable.” Really! You can’t make up stuff this good!Īnd he hasn’t paid most of the $110 million he owes to his victims, but that’s another story. He ended up serving 22 months in prison and was ordered to pay his fraud victims $110 million in restitution. Rather than face decades behind bars, he became a government witness. Ultimately, after a Federal investigation, Belfort pleaded guilty to securities fraud and charges of money laundering. The investors were left with worthless holdings. He soon discovered a world of white-collar crime, taking over a Long Island penny-stock cold-calling boiler room, and was soon making millions by convincing investors to buy stocks his company had invested in, and then selling the stocks for a huge profit. The firm was one of many that soon closed down, and Belfort was out of a job. It was “Black Monday” – in October, 1987. The movie, directed by Martin Scorsese and starring Leonardo DiCaprio, is based on the autobiographical book by Jordan Belfort, which details his rise and fall on Wall Street.īelfort had just finished training at a major Wall Street firm, and on his first day as a licensed stock broker, the world markets crashed. But first, here’s a little background info…
#THE WOLF OF WALL STREET (BOOK) MOVIE#
It’s the best ten seconds of any movie I’ve seen in quite a while, especially given the 1,200-point drop in the Dow over the last couple weeks.
And it’s l-o-o-o-o-o-n-g – about three hours.īut whether you decide to see it or not, there’s a scene in it that is so profound, I’m going to spill the beans about it here. It’s based on a true story of Wall Street’s excesses, and it’s chock-full of graphic scenes of sex, drugs and debauchery. If you haven’t seen the Oscar-nominated movie, The Wolf of Wall Street yet, I’m not necessarily suggesting you see it. Suze Orman and Dave Ramsey: Let’s debate!.
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#THE WOLF OF WALL STREET (BOOK) FREE#