Rich.. Bankrupt.. Rich Again (Wolf of Wall Street)

[Intrinsic_Value]

this guy committed fraud, he wasnt bankrupted due to an unfortunate turn of events. he readily admits to committing a hell of a lot of crimes so yes, in this case a lot of the comments directed his way are entirely deserved.

and this is what really gets my goat.

He took that money directly from na?ve other people, that took advice based on a position of trust.

There have been other members on this forum in times gone by that have done a very close approximate replication of this.

I wont go into details because obviously the topic risks getting shut down or worse for the forum owners (because of legal action).

To me these type of guys are scum, they prey on the hopes and dreams of the more na?ve and swindle their money in the process.

Intrinsic value is no White Knight. There are many things in my past that I am ashamed of myself. But at least I can look at myself in the mirror and say that for the most part, my personal dealings with people have been done with reasonable honour.

 

[dex]

http://en.wikipedia.org/wiki/Dennis_Levine

http://en.wikipedia.org/wiki/Michael_Milken

Wall Street the movie and Gordon gecko was loosely based on Michael Milken and Dennis Levine and their antics with junk bonds and insider trading. Milken made over US$1 billion during a 4 year period.

 

[Michael_X]

https://www.youtube.com/watch?v=G3K92uugO9o

Watched this interview on Jordan, interesting what he says. 4 keys to success:

1. Vision
2. State management
3. Beliefs
4. Strategy

 

[b simpson]

I enjoyed both books and the movie. Below is an interesting section from the second book.

The wolf was out of money and in the middle of legal proceedings when he moved into mortgage refinancing which was meant to lower the interest rate and save the house owners money...

...I finally got down to business, I grossed $7,000 in commission in less than thirty minutes and saved her $300 a month in the process. Or at least that's what I tried to do. What ended up happening was slightly different...

*snip*..she said, "I do not give a **** about lowering my mortgage payment, Jordan. I just want to take cash out of my house." She winked at me. "You know, a little mad money? Didn't you ever get the urge to spend a few dollars?" Her name was Thelma. I smiled and held back from saying, "Well, Thelma, there was this one time when I was high on Quaaludes and decided to extend my yacht to make room for my seaplane!" Then I said, "How much cash would you like, Thelma?"

As I would soon find out, Thelma's answer was typical of many American homeowners, the majority of whom would eventually fall behind on their mort-gage payments and end up in foreclosure. She so much as said, "Listen, Jordan, get me as much ****ing cash as possible, and I don't give a **** if the rate's exactly the same as it is now. I just want to redecorate my home and travel to exotic places and buy a new sewing machine and a flat-screen TV and a twin engine speedboat, and then I want to pay off the balances on my credit cards so I can run them back up again in six months and refi once more!

"And, by the way, Jordan, if you can figure out a way to get me approved for one of those newfangled adjustable-rate mortgages, where the payment is supercheap for the first few years and then explodes to a level that I won't possibly be able to afford, then that's what I want too. I'll worry about the payment when I'm living in a homeless shelter!"

Ahhhh, the refi boom *snip* Within a week I had grossed $50,000 in commission, and the week after that I doubled it. And just like that my money problems were over.

 

[ok180]

Don't do it unless you want to hear bad language, storyline which completely misses the most important factors, people jumping on each others bones..... yes, non stop. Give it a big miss I can tell you very disappointed.

Famous actors... Leonardo DiCap, even he can not save it, I think director is Scoresse (spell), he sure got it wrong.

Go see Prisoners, this was very good, Hugh Jackman

I agree. I found the movie overly long and not at all interesting. Made me dislike Belfort even more if that is possible. I noticed a lot of people I have on facebook saying OMGGGG Best movie ever but those are the same people who are in credit card debt up to their eyeballs and get smashed every weekend. I guess all the hoopla and get rich quick message in it appeals to people like that. I just found it to be sensationalised garbage.

If anyone is into "financial" type movies you should check out Arbitrage, Richard Gere is in it. Good show.

 

[Teshy]

I can't believe people are paying to watch this guy talk.

I saw this on Media Watch on Monday night.
http://www.abc.net.au/mediawatch/transcripts/s4021789.htm

 

[TMNT]

The movie was fantastic
Leo was fanatastic
The whole belfort story is interesting

BUT

The guy is a crook who ripped off people left right and centre

Im sure he ripped off old grannies as well as rich and greedy investors

He is a criminal, period

I don't care whether he made 100 million during or after he whole story

I certainly wouldn't pay a cent to go see him

Why would you want to? To get tips on how to rip people off? Or motivational speaker? Motivation for what?

It simply disgusts me

And no i didn't get ripped by him nor know anyone who did

 

[MTR]

https://www.youtube.com/watch?v=G3K92uugO9o

Watched this interview on Jordan, interesting what he says. 4 keys to success:

1. Vision
2. State management
3. Beliefs
4. Strategy

I posted this some time ago, I thought it was very good.

 

[MTR]

https://www.youtube.com/watch?v=G3K92uugO9o

Watched this interview on Jordan, interesting what he says. 4 keys to success:

1. Vision
2. State management
3. Beliefs
4. Strategy

I posted this some time ago, I thought it was very good.

As I mentioned before I particularly liked the book as it got into his psyche which was fascinating and I would recommend over the movie any day of the week.

 

[Michael_X]

I posted this some time ago, I thought it was very good.

As I mentioned before I particularly liked the book as it got into his psyche which was fascinating and I would recommend over the movie any day of the week.

Thanks for the heads up, definitely going to get the book. Sure he did alot of wrong but there are nuggets of gold there. Just need to shift through the drugs, prostitution and scamming.....

 

[MTR]

I agree, you don't have to like what the person did.
Yes, definitely nuggets of gold.

 

[Bantam Roosta]

Who knows the full truth? Not me, but here is a recent piece about his current exploits.

BR

 

[redwing]

My thought is if someone can achieve serious wealth they have the ability to do this again, they have the formula

Whats the formula...The Power of Persuasion

According to a TIME piece

Turns out Belfort was even more of a jerk than they show in the movie. In the film version, Belfort tries to save his partner from incriminating himself. In reality, Belfort ratted out his partner Porush, among others, for a reduced sentence (the two reportedly no longer speak). Belfort spent only two years in prison and had Tommy Chong (of Cheech and Chong) as his cellmate. Chong convinced Belfort to write a memoir.

 

[MTR]

Hi RW
View youtube above which covers it formula/mindset.

Vision
2. State management
3. Beliefs
4. Strategy

Of course he ratted on his colleagues, that's how it works in US they do a deal, the Feds were actually after higher prices. Placed in the same position I would no doubt do the same, self preservation.

 

[MTR]

Got an email on this, so some of JB clients pay $50,000.

Riches... to rags.... to jail....to riches again

http://www.mastersofwealth.com.au/affiliate/

 

[redwing]

Of course he ratted on his colleagues, that's how it works in US they do a deal, the Feds were actually after higher prices. Placed in the same position I would no doubt do the same, self preservation.

It's a wonder they ever make it in prison then and the US has some nasty one's.

This was interesting

The Wolf of Wall Street's Jordan Belfort's Biggest Weakness

Her's a link to a Times article in 1991 Steaks, Stocks ? What?s The Difference? which was also of interest, you've gotta be wary of the wolves when investing your hard earned, after all wasn't it he who said

The way I looked at it, their money was better off in my pocket. I knew how to spend it better

Between a fellow who is stupid and honest and one who is smart and crooked, I will take the first. I won't get much out of him, but with that other guy I can't keep what I've got
~Lewis B Hershey

 

[Ausprop]

seems your name is one brand that you can never lose in bankruptcy!

 

[boeman]

Leo was great in the movie, but the movie had nothing to do with the book.

The book had the finer points of how he made the fortune and what an excellent (though corrupt) salesman he was.

Movie was all about the excess that came with it. Mindless entertainment but didn't have half the finesse of the book/s.

 

[MTR]

Leo was great in the movie, but the movie had nothing to do with the book.

The book had the finer points of how he made the fortune and what an excellent (though corrupt) salesman he was.

Movie was all about the excess that came with it. Mindless entertainment but didn't have half the finesse of the book/s.

Totally agree, really enjoyed the book, some very very funny stories.

Seems his still a very good salesman