Trading

Name of the Game From The Wolf of Wall Street

There is a scene in the movie The Wolf of Wall Street where Matthew McConaughey (playing Mark Hanna) explains to Leonardo DiCaprio (playing Jordan Belfort) how the brokerage business works. I find this scene excellent in explaining how much of the trading business works.

Here’s the YouTube video:

And here’s the transcription of the key bits:

Jordan Belfort

I gotta say, I’m incredibly excited to be a part of your firm. I mean…the clients you have are absolutely…

Mark Hanna

Fuck the clients. Your only responsibility is to put meat on the table. You got a girlfriend?

Jordan Belfort

I’m…I’m married. I have a wife, her name is Teresa. She cuts hair.

Mark Hanna

Congratulations.

Jordan Belfort

Thank you.

Mark Hanna

Think about Teresa. Name of the game, move the money from your clients pocket into your pocket.

Jordan Belfort

Right. But if you can make the clients money at the same time, it’s advantageous to everyone, correct?

Mark Hanna

No. Number one rule of Wall Street. Nobody, I don’t care if you’re Warren Buffet or if you’re Jimmy Buffet, nobody knows if a stock is gonna go up, down, sideways or in fucking circles, least of all stock brokers, right?

Jordan Belfort

Mm-hmm.

Mark Hanna

It’s all a fugazi. Do you know what fugazi is?

Jordan Belfort

Fugazi, it’s a fake…

Mark Hanna

Yeah, fugazi, fogazi. It’s a wazi, it’s a woozi. It’s…fairy dust. It doesn’t exist, it’s never landed, it is no matter, it’s not on the elemental charge. It’s not fucking real.

Jordan Belfort

Right.

Mark Hanna

Alright?

Jordan Belfort

Right.

Mark Hanna

Stay with me.

Jordan Belfort

Mm-hmm.

Mark Hanna

We don’t create shit, we don’t build anything.

Jordan Belfort

No.

Mark Hanna

So if you got a client who bought stock at eight, and it now sits at sixteen, and he’s all fucking happy, he wants to cash in and liquidate and take his fucking money and run home. You don’t let him do that.

Jordan Belfort

Okay.

Mark Hanna

Cause that would make it real.

Jordan Belfort

Right.

Mark Hanna

No, what do you do? You get another brilliant idea, a special idea. Another “situation”, another stock to reinvest his earnings and then some. And he will, every single time.

Jordan Belfort

Mm-hmm.

Mark Hanna

Cause they’re fucking addicted. And then you just keep doing this, again, and again, and again. Meanwhile, he thinks he’s getting shit rich, which he is, on paper. But you and me, the brokers?

Jordan Belfort

Right.

Mark Hanna

We’re taking home cold hard cash via commission, motherfucker.

Jordan Belfort

Right. That’s incredible, sir. I’m…I can’t tell you how excited I am.

Mark Hanna

You should be.

….

Mark Hanna

Revolutions, you follow?

Jordan Belfort

Revolutions.

Mark Hanna

Keep the client on the Ferris wheel, and it goes, the park is open 24/7, 365, every decade, every goddamn century. That’s it. Name of the game.

-END-

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