Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in restitution to any swindled stock buyers of his brokerage firm (A&E Networks Television). Though his lavish spending and berserk party lifestyle was consumed by excessive greed, he displayed both positive and negative aspects of business communications. Before being cultivated with cocaine and hookers as the key to success in Wall Street, Jordan Belfort demonstrated the incontrovertible advantages of positive business communications. One of which pertains to the effectiveness of corresponding with customers over the telephone. Especially for stockbrokers, having a conversation over the phone is pivotal when trying to sell a stock to a potential investor. Jordan Belfort began his process with a potential client by stating his name, where he was from, and what he had to offer. This was a method of gaining the trust of a customer that he did not know. Furthermore, he engaged the customer with an optimistic attitude and stated how the stock could affect him or her in the best way possible. Jordan coul... ... middle of paper ... ...In conclusion, learn from your mistakes, remember what talents got you where you are today and success will eventually come along the way. Works Cited Belfort, Jordan. The Wolf of Wall Street. New York, NY: Bantam, 2007. Print. Flatley, Marie, Kathryn Rentz, and Paula Lentz. Business Communication. New York: McGraw Hill/Irwin, 2012. Print. "Jordan Belfort Biography." Bio.com. A&E Networks Television, n.d. Web. 15 Feb. 2014. "Jordan Belfort Quotes." Jordan Belfort Quotes (Author of The Wolf of Wall Street). N.p., n.d. Web. 13 Feb. 2014. "Memorandums." The Free Dictionary. Farlex, n.d. Web. 29 Mar. 2014. "Securities And Exchange Commission - SEC." Investopedia. N.p., n.d. Web. 28 Mar. 2014. The Wolf of Wall Street. Dir. Martin Scorsese. Perf. Leonardo DiCaprio, Jonah Hill, Margot Robbie, and Matthew McConaughey. Red Granite Pictures/Paramount Pictures, 2013. Film.
...: Wall Street Insider - Financial News, Headlines, Commentary and Analysis - Hedge Funds, Private Equity, Banks. Retrieved January 15, 2012, from http://dealbreaker.com/2010/06/wachovia-vp-had-good-reason-to-steal-money-from-bank-that-youll-probably-never-understand/
The novel Liars Poker by Michael Lewis is a very interesting firsthand account of an inside look into the investment banking world, in particular bond trading at the firm Solomon Brothers in the 1980s. Lewis took an interesting and roundabout way to end up on Wall Street, studying art history at Yale and bombing his interview with Lehman Brothers. But he eventually found himself at Solomon Brothers through a lucky encounter with two managing directors wives. Through his book, Michael Lewis conveys the inner workings of investment banks in the 1980s to the average person using his own experience at Solomon Brothers. The book goes into Lewis’s own rise in the firm, as well as the rise and fall of the entire Solomon Brothers Mortgage department.
In the Frontline documentary “The Madoff Affair”, it is revealed and painfully evident that the ability to predict, prevent, and prosecute white collar crime is flawed and highly complicated even for the government. Frontline takes a look at the first global Ponzi scheme in history and helps create a better understanding of the illegal conduct that led to the rise and fall of Bernie Madoff and those associated with his empire (Frontline, 2017). When the leadership at the top of any organization is founded on lies, secrecy, and empowered by the leaders within the industry, the corruption is deep and difficult to prosecute. The largest stock market fraud in history reinforces the need for better government regulations, enforcement of the regulations, and oversight, especially in it’s own backyard (Yang, 2014).
In Karen Hos’ Liquidated, she aims to study the relationships between corporate America and the world’s greatest financial center. . . Wall Street. The. She puts all her three years of research in her ethnography and thus on the very first page of chapter one, we can already understand Hos’ determination to understand what Wall Street is all about. The first main theme explained is the relations on Wall Street that are based on a culture of domination of staff members, their irresponsibility dealing with corporate America, and constant changes that occur during this process.
“Money and sex motivate people, Andy. And money is the one thing that gets their hands off their dicks and into work” (Prebble, Act 1 Scene 5). And so with dicks and dollar bills flying all over the place, “Enron” by Lucy Prebble opens the curtain for us, the audience and participants of consumers, to look into the backstage of the notorious Enron collapse in 2001, revealing the discourse and bizarreness of the corporate culture. From the coexisting affair and competition between Skilling and Roe, to the hissing raptors eating up debt from the dark basement of Andy Fastow’s office, the darkest characters of Man are brought under examination and questioned with the unethical rise and the inevitable fall of Enron. With its plot rooted from a
Jordan Belfort is famous for his crooked way of earning his millions as a stockbroker on Wall Street. Even Belfort started at the bottom, on his first day in Wall Street he was told he was “lower than pond scum”(Belfort 1). After writing a book about his happenings on Wall Street, we’ve seen the
The Web. The Web. 22 Apr. 2014. The 'Standard' of the 'Standard'. Rothlisberger, Miles.
The stock market is an enigma to the average individual, as they cannot fathom or predict what the stock market will do. Due to this lack of knowledge, investors typically rely on a knowledgeable individual who inspires the confidence that they can turn their investments into a profit. This trust allowed Jordan Belfort to convince individuals to buy inferior stocks with the belief that they were going to make a fortune, all while he became wealthy instead. Jordan Belfort, the self-titled “Wolf of Wall Street”, at the helm of Stratton Oakmont was investigated and subsequently indicted with twenty-two counts of securities fraud, stock manipulation, money laundering and obstruction of justice. He went to prison at the age of 36 for defrauding an estimated 100 million dollars from investors through his company (Belfort, 2009). Analyzing his history of offences, how individual and environmental factors influenced his decision-making, and why he desisted from crime following his prison sentence can be explained through rational choice theory.
The Wolf of Wall Street is based on the life and also the author, Jordan Belfort. Jordan becomes discontent with his everyday life and realizes his talent for selling. As he continuously gains more money, he begins using more drugs. Way more drugs. Jordan starts his own brokerage firm named Stratton-Oakmont. Jordan hires a staff of, well, criminals to help him sell cheap stocks. They would sell all of these cheap stocks to their customers, then Belfort would buy large amounts of these stocks, running up the price, and then dump it. Finally, Jordan begins running into a lot of legal trouble as the FBI is on to the ways his brokerage firm works. Although Belfort has the FBI watching him very closely, he continues to spend huge sums of money on things such as boats, cars, houses, strippers/hookers, and last, but certainly not least, drugs. As Jordan’s already massive drug problem continues to escalate, he has to keep a very large portion of his money in a European account to hide it from the Feds. Belfort ends up going to prison for 22 months for fraud of his
Mackay, Tim. "The Ethics Of The Wolf Of Wall Street." Charter 85.2 (2014): 67.Web. 23 Mar. 2014.
One of the most infamous characters that captured the public’s attention this past year is Jordan Belfort, a stockbroker better known as the “Wolf of Wall Street.” Jordan Belfort, played by Leonardo DiCaprio in the reenactment of Belfort’s first book titled, “The Wolf of Wall Street,” became a public spectacle when he aired his crime-ridden past and the momentous downfall of his life in his autobiographies turned blockbuster hit (McFarland et al., 2013). Belfort, who started his career by no unusual circumstances, became a multi-millionaire in the late 90’s selling a “pump and dump” scheme to unsuspecting investors (“Jordan Belfort Biography,” 2014). According to his autobiography, which admittedly could very well be an exaggeration of himself, claims that Belfort was a natural stockbroker, landing his first job because of an impressive sales pitch of a pen in his initial interview. Once he developed a reputation on Wall Street, Belfort opened his own firm called Stratton Oakland. He details the extraordinary company culture that he was part of and explains how it led to his eventual arrest for fraud and money laundering. His pompous personality is emphasized by his anecdotes of sex, drugs and money that were the three most important aspects in his life, whether it was at work, or in his personal life. It is clear that Belfort sported a type of superiority complex, as well as some kind of inherent drive for this type of lifestyle. Once he reached the top, no expense was too much, and he actively sought the attention from his peers for his style of living. Belfort’s personality was excessively grandiose and eccentric, revealing a sort of maladaptive manner in dealing ...
This case study is not about Ms. Stewart direct participation with illegal insider trading as the media had steered the public to believe. To begin, Ms. Stewart received a phone call from Ann Armstrong, her assistant, stating that Peter Bacanovic, her stockbroker, “thinks ImClone is going to start trading down.” (Arnold, Beauchamp, Bowie, 2013, p. 390) Although Ms. Stewart was not able to get a hold of Peter, she talked to his assistance, Douglas Faneuil,
Without Boeskey’s help, catching other insider-trading criminals would have been almost impossible. Ivan Boesky even wrote a book about his involvement in the world of insider trading; he called it Merger Mania. This case illustrates that there are real consequences to white collar crime. In addition to paying the fifty million dollar fine, he relinquished another fifty million dollars of his illegal trading profits. He still had millions remaining, however, from his illegal gains.
The Wolf of Wall Street produced and directed by Martin Scorsese tells a story of Jordan Belfort, a stockbroker living a luxurious life on Wall Street. Due to greed and corruption, Jordan falls into a life of crime and abusive activities. Belfort made millions of dollars by selling customers “penny stocks” and manipulating the market through his company, Stratton Oakmont, before being convicted of any criminal activity (Solomon, 2013). Jordan reveals behaviours and impulses all humans have, however, on an extreme level. This movie illustrates “why ethics is another tool whose importance cannot be overstated” (Delaney, 2014). Without ethics and morality, individuals can never truly live an honest and happy life.
Before being cultivated with cocaine and hookers as the key to success in Wall Street, Jordan Belfort demonstrated the incontrovertible advantages of positive business communications. One of which pertains to the effectiveness of corresponding with customers over the telephone. Especially for stockbrokers, having a conversation over the phone is pivotal when trying to sell a stock to a potential investor. Jordan Belfort begins his process with a potential client by stating his name, where he was from, and what he had to offer. This is a method of gaining the trust of a customer that he does not know. Furthermore, he engaged the customer with an optimistic attitude and stated how the stock could affect him or her in the best way possible. By providing the customer with onl...