Tuesday, December 31, 2013

The Wolf of Wall Street: The True Story

Jordan Belfort with Trophy Wife


Jordan Belfort, "The Wolf of Wall Street"


G.K. Chesterton Reviews Martin Scorsese's Movie, "The Wolf of Wall Street"


  1. 'Wolf of Wall Street' Jordan Belfort tells you how to persuade people ...

    Dec 10, 2013
    JORDAN Belfort knows the secret of persuading people.

  2. Jordan Belfort - The Wolf of Wall Street on Vimeo

    Jan 14, 2010
    Join Grant Lewers for a special discussion with Jordan Belfort, The Wolf of Wall Street Jordan's two ...


We sort out what’s fact and what’s fiction in Martin Scorsese's glitzy new film about a real-life scammer

    Drugs, prostitutes, crashed helicopters — the debauchery in The Wolf of Wall Street is so outlandish that audiences might leave the theater thinking director Martin Scorsese took plenty of creative license in telling the story of Jordan Belfort, a New York stock broker who conned his way to earning hundreds of millions in the 1990s. But Scorsese’s film closely follows Belfort’s own memoir, also titled The Wolf of Wall Street.
That said, Belfort glorifies his vulgar antics in his book, so how much of his account is truly real is up for debate. After all, Belfort was a scam artist — he made a living by lying. Scorsese, knowing this, portrays Belfort (Leonardo DiCaprio) as an unreliable narrator in the film (see: the changing color of the car in the first scene and the driving while high on Quaaludes episode).
TIME fact-checks the movie against Belfort’s books (he also wrote a sequel entitled Catching the Wolf of Wall Street) and a series of Forbes articles that have followed Belfort’s scheming.
Belfort’s first boss told him the keys to success were masturbation, cocaine and hookers.
Ruling: Fact
According to the book, a broker named Mark Hanna (Matthew McConaughey) gave him this advice early on in his career.
Belfort and his partner owned shares of a risky stock and had their brokers at Stratton Oakmont brokerage aggressively sell the stock to inflate the price. They then sold the stock themselves to turn a profit.
Ruling: Fact
Belfort and Danny Porush (called Donnie Azoff in the film and portrayed by Jonah Hill) utilized this age-old pump-and-dump scheme to get rich quick after graduating from scamming middle-class people into buying worthless penny stocks at a 50 percent commission.
Forbes magazine exposed Belfort, calling him a “twisted Robin Hood.”
Ruling: Fact
Though Belfort wasn’t on the cover, Forbes did run a profile of him in which they called him “a twisted version of Robin Hood, who robs from the rich and gives to himself and his merry band of brokers.” Though it was a scathing portrait, the promise of quick $100,000 commissions brought job applicants to Stratton Oakmont in droves.
Stratton Oakmont took Steve Madden public.
Ruling: Fact
Steve Madden did give a speech the day of the IPO, to which the Stratton Oakmont brokers responded with jeers. Madden, Belfort and Porush owned most of the stock and drove up the price. Belfort, Porush and Madden all went to jail for their scheme.
Belfort laundered his money into Swiss banks using his in-laws.
Ruling: Fact
His wife’s mother and aunt both helped smuggle the money into Switzerland.

Now for the really ridiculous stuff…

Danny Porush (Donnie Azoff) was married to his cousin.
Ruling: Fact
They’re now divorced.
The driving on Quaaludes scene.
Ruling: Mostly fact
It was a Mercedes, not a Lamborghini. But the rest is true to Belfort’s memoir.
The office parties included a “midget-tossing competition.”
Ruling: Fact
…According to Belfort.
The company billed prostitutes to the corporate card.
Ruling: Fact
…And wrote them off in their taxes.
He crashed a helicopter in his front yard while high.
Ruling: Fact
On a related note, he also did at least attempt to sober up in real life.
He sunk a yacht in Italy.
Ruling: Fact
And the yacht used to belong to Coco Chanel.
He called his trophy wife “duchess.”
Ruling: Fact
Though her name was Nadine, not Naomi.
He served a reduced prison sentence after ratting on his friends.
Ruling: Fact
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.
He scammed only the rich.
Ruling: Fiction
Some writers have criticized Scorsese for portraying Belfort’s lifestyle as glamorous without showing the victims of his scam. Though Belfort claims in his book and in the film that he only took from the wealthy, the New York Times reports that many small business owners are still trying to recover financially from Belfort’s scheme. (The government claims Belfort has failed to pay his restitution, and reports suggest that Porush is still running get-rich-quick schemes.)

1 comment:

  1. We’re bombarded by people and things, wanting our time and money, so naturally we’ve evolved a filter that’s highly attuned to the first few seconds of any interaction. And if you happen to be selling something, you almost get less than an instant. You have to establish that you’re a person worth listening to straight away. How long did Jordan Belfort’s Stockbrokers in Stratton Oakmont, have to make an impression on the phone?Just seconds, in a tough cold calling environment where they were looking to secure significant investments. Yet this firm was making over $50 million a year off the back of these calls. here are Jordan Belfort sales training,Straight line Jordan Belfort,Jordan Belfort straight line persuasion,The wolf of wall street Jordan Belfort,Jordan Belfort straight line system and Wolf of wall street movie.
    How was it done?
    Through a tried and tested System What’s on offer here is that exact System, used to train Thousands of Staff to make hundreds of Millions. There will be no more uncertainly in you or your method. You will close whoever is closeable. This is the absolute fast track to sales success.