Jailed Cityboy Stock Broker guide to sales

[jthetrader]

At 26, I was self employed doing a 5 month contract in Knoxville, TN earning $950 a day doing....

A LEGITIMATE FNCKING JOB.

Now add on the inflation of 15 years and you won't be too far off $30k.

Waaaaay too much theft and self-pity in this thread.

FFS people - stop feeling sorry for yourself & go out and do something people will pay money for.

Ain't no reason to rip people off for that sort of money. Not at all.

Find what people want & learn the fnck how to do it.

What is it you do, out of interest?

Anyway, I agree, in part anyway. I do find it hard to feel sorry for some of the victims of these frauds though, I mean, if someone rang you up and said, "Give me your life savings and I'll double it in a year" what would you do? If you answer is anything other than tell him to **** off and put the phone down you almost deserve to lose your money (not literally of course, but as they say, a fool and his money are soon parted).

 

[DionysusToast]

My background is in software - there was money in it for Westerners back in the 90's! I was lucky enough to be in Asia when it turned to the outsourcing model, so was able to ride that too.

I do feel sorry for the victims of these frauds. When I say get a legit job - I'm talking to these sheisters that go work in boiler rooms, not their victims.

Bangkok is full of them, there needs to be a cull.

I get them call me all the time "it's xxx from xxx company in Japan" asking them for a mobile number to call them back on usually ends the call...

 

[jthetrader]

My background is in software - there was money in it for Westerners back in the 90's! I was lucky enough to be in Asia when it turned to the outsourcing model, so was able to ride that too.

Yeah, I know salaries in IT, or some areas of it anyway, have dropped a lot though. My dad's a programmer, and he says the money now is worse, in relative terms at least, than it was 20, or even 10, years ago.

Outsourcing is somewhat to blame, cheap ****ers in India especially jk Once again, supply of qualified people grew out of step with the growth, or stagnation, of demand. As you say, it's about seeing the next big thing before it gets big and getting out while you're ahead.

I do feel sorry for the victims of these frauds. When I say get a legit job - I'm talking to these sheisters that go work in boiler rooms, not their victims.

Bangkok is full of them, there needs to be a cull.

I get them call me all the time "it's xxx from xxx company in Japan" asking them for a mobile number to call them back on usually ends the call...

I empathise with them too, but it is hard to believe there are people quite so thick out there. I mean, it should not strain the critical faculties of the average man to realise that there are no guarantees in the world of finance, beyond perhaps a normal account paying enough to keep pace with inflation (if that).

I feel more sorry for people who get their card details cloned at a cash point than I do someone who thinks a £50,000 passive investment will make them rich in 6 months and then loses every penny. Due diligence doesn't just apply to big mergers and acquisitions, it should apply to every investment anyone makes.

I think the people who do it are of a very particular kind, probably not incredibly intelligent, or original, but with the gift of the gab and no conscience. Maybe a sense of adventure too. I was just stunned by the money that is on offer, even better when you think that £2,000 a week in Bangkok must have the buying power of about £20 grand a week in England.

 

[jthetrader]

Its not hard to make money by breaking the law or resorting to predatory tactics.

People who do that generally get their comeuppance fairly quickly. And you do need to know something, I, for example, could not set up a boiler room because I don't have the knowledge required. I think it would be fairer to say that it's not hard for people who operate in the underworld to make money (how long they keep it is another thing).

Its a bit like the 'Wolf of Wall Street'

Firstly he wasnt on Wall Street. He was in some sh***y office space on Long Island. (and nor incidentally is the OP a 'banker' let alone a disgraced one)
Secondly its easy to generate massive profits if you are just going to steal wantonly.
Thirdly Jordon Belfort (and the OP) couldnt even do it without getting caught.

Why would he need to be on Wall Street where rents for an office are probably millions of USD a year? He just needed a room with enough space for a load of brokers and a load of phones. Lower costs=more profit.

Why anyone would be interested in self-agrandising pulp published by these people is a mystery to me. That such books are published merely indicates the continuation of delusions of grandeur on the part of the authors.

True, you can find people willing to brag about their exploits in any pub or, indeed, on any forum. Though, I find separating out the bull****ters from the truthtellers is often not worth the candle.