Business

History Buffs: The Wolf Of Wall Street

A coverage of The Wolf Of Wall Street. Who was Jordan Belfort and what he did? Find out below.

The Wolf Of Wall Street
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History Buffs: The Wolf Of Wall Street

Transcript

My name is Nick Hodges and frankly just for the fun of it I’ll be covering the Wolf of Wall Street as one of the greatest Martin Scorsese movies ever made. This is based on the real life story of Jordan Belfort a crooked stockbroker who made his career by embezzling his investors out of millions of dollars and then spending it all in an excess of debauchery depravity and outright douche Bagheri. In 1989 he cofounded a brokerage firm called Stratton Oakmont and was hugely successful. It’s employed hundreds of aspiring young brokers who were all instructed to carry out a pump and dump scheme. What this basically means that they would buy worthless stock. The cost next to nothing. Then they would inflate the price by lying to their naive investors and then sold everything before the inflation bubble popped. For years the scam went on and by the end of it. Jordan Belfort had swindled his investors out of hundreds of millions. It didn’t take long for the FBI to find out and lock everyone up for audiences find so fascinating via Jordan Belfort it’s less to do this crime and more with his decadent lifestyle of drugs booze and women. What we see in the film is so ludicrous so bizarre so insane that it has to be the work of Hollywood fiction right. Well grab yourself a drink and let’s find out how accurate was this movie. And yet for anyone that comment section asking seriously Nick is this even related to history. Absolutely fucking not. This is The Wolf of Wall Street.

Now normally when I do a history buffs episode I starts off by exploring the historical background of the movie to provide some context but honestly how much do you need to understand what these Wall Street wankers were like. You want to know what money sounds like go to a trading forum. FUCK THIS SHIT THAT CAN’T cock asshole. I couldn’t believe how these guys talked to each other. I was hooked. The second the life of Jordan Belfort was not exactly that complex. He started off as a young broker who had just passed the Series 7 exam and got himself a great first job Ella Rothchild an investment firm had been around since 1899 but he wouldn’t join for very long because on his first day of the job was Black Monday was when the stock market fell by 500 points on October 19th 1987. Up until then it was the worst crash that happened since the Great Depression. And given how many stockbrokers view that trade it’s not hard to imagine why I got to say I’m incredibly excited to be a party firm. The clients you absolutely top the client your only responsibility is to put meat on the table. Name of the game move the money from your client pocket. You right. But if you can make a client’s money at the same time it’s advantageous. Everyone I’m correct. So after being laid off from Ella Rothschild Jordan Belfort found himself a job at the investor’s center which was penny stock house that sold worthless stock to gullible working class investors.

Normally this would be considered a major step backwards for any self respecting broker until Belfort realized that he would gain a 50 percent commission out of anything he sold. So using the skills he picked up on Wall Street he robbed these people of their livelihoods and the money he was able to make from that allowed him to open up his own brokerage firm in 1989 where he planned to do the same thing except to rich people in an abandoned auto body shop in Long Island. Stratton Oakmont was born and it was there that Belfour provide his team of stockbrokers with a carefully written script that he called the straight line. The way it worked was that they would learn new investors in with blue chip stocks. Successful brands and companies that the general public were familiar with. Once those investors have paid a little bit of money on those safe bets then the Straton guys will take advantage of their newfound trust and push them to buy the high risk penny stocks which of course they did. This tactic allowed the company to grow from its quote unquote humble origins. It’s one of the largest Odissi firms in the entire country and just like we see in The Wolf of Wall Street Jordan Belfort would spend every morning giving epic speeches over a microphone to his brokers and appeal to them. Agreed. But enough of that exposition. You want to know by Jordan Belfort misadventures and all the other crazy stuff we see in the movie. Most of them concerning drugs I take away Ludes 10 to 15 times a day for my back pain adderall to stay focused Xanax take the edge off pop to mellow me out cocaine to wake them back up again and morphing well because it’s awesome.

Admittedly it’s difficult to 100 percent verify which of these stories are true but based on I was able to find here the ones that seemed to be like for example the Seima where Jordan Belfort almost crashed his private helicopter.