Can The Wolf change his ways? After a life of shady Wall Street deals, drugs, and hookers, can a person truly change and do a complete 180 towards a better way of life? Jordan Belfort the featured character in the controversial movie by Scorsese, “The Wolf of Wall Street” was based off Belfort’s own book. It reveals the fast paced lifestyle he lived. Taking advantage of unwary investors and leaving their lives in shambles. In this interview we take a closer look at a man who made millions and lost it all…… overnight.
The interview is quite interesting. He seems to have an upbeat attitude about life despite being prosecuted by federal authorities for his illegal actions. Jordan talks about the highs and lows of his life as a criminal. Over the years he claims to have discovered his ability to inspire people, and now is in the business of doing motivational seminars for those seeking to become successful. He talks about what it takes to become successful in all endeavors of life. He reveals his mistakes and triumphs candidly, and speaks about his formula of what actually made him rich.
Jordan Belfort’s Daughter Has a Few Words
His daughter’s scorching letter in LA Weekly seems to caution the public about who this man really is. In the letter, she makes it a point to shame Hollywood for glorifying a man who has only brought harm to this world. Emphasizing that this destructive attitude has brought down American’s financial system, and put the economy at risk. She verbally bashes DiCaprio and his co-stars for playing roles in this movie. She clearly states that the “Kings of Hollywood have been conned”. Jordan Belfort is not viewed highly by his own daughter.
This Activity May Still Go on Today.
Belfort has engaged in what is know as the “Pump and Dump” scam. The firm acquires penny stock shares of a highly illiquid stock, and gets unsuspecting investors to buy shares. The buying action of investors pushes the stock price up, then Belfort’s firm starts to sell out at higher prices. Soon there after, because of selling, the price of the stock comes crashing down leaving the investors with huge losses.
Believe it or not, this scam still goes on. If anything should be learned from the movie, don’t trust a fast talking broker on the phone. It would be wise for investors to seek prudent investment opportunities and stay away from ideas that can make you rich quick. While Belfort was sent to prison for doing this, many firms who still do this scam operate within the boundaries of the law. So, yes it may be perfectly legal for companies to do this type of illicit activity. Always check the reputation of the company you are dealing with. It would also be wise to check the legal standing of the companies you are investing in to see if they actually exist.