The Wolf Of Wall Street: A Cautionary Tale

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The Wolf of Wall Street:
A Cautionary Tale Most of the human population, if you asked them, would say that money does not buy happiness. They are right; however, it can buy an abundance of impractical junk. Jordan Belfort demonstrates exactly what not to do with money, and that is why I liked this book. Belfort is bluntly honest with how greed can take over your life and where you will end up if you control you. Although I was excited to read about the ridiculous endeavors that Jordan Belfort went through, I am only saying a certain group of people would like it also. The Wolf of Wall Street is an autobiography, based in the 1990s Jordan Belfort was the kingpin of the infamous investment firm Stratton Oakmont. Jordan Belfort is one of the …show more content…
Since I already understood there is a high-risk and high-reward aspect of investing, it wasn't hard to see what part of the spectrum Jordan Belfort was on. The chronicle of Jordan Belfort gave me a much better grasp of it. Looking at the story from the outside, though people just want to know how Belfort indeed became so rich. If you didn't read the book, then you wouldn't understand how Belfort become a multimillionaire. So, there is a pretty crappy company that's trading at 50 cents a share. The market capitalization is $2 million. Belfort would instruct his accomplices to buy $1 million worth of those shares, half the company. It's illegal for Belfort to personally buy the shares. Then he would instruct his brokers, that used high-pressure sales tactics and all kinds of deception, to start recommending the terrible stock to their clients. The price of the stock would start climbing, it would start at 50 cents and would climb to $5 in a matter of time. Along the way, as the brokers were pressuring the clients into investing into the shares, Jordan Belfort’s accomplices were selling them. Let me say that there are two million shares, after the price started surging 500,000 shares are sold at $1, then another 500,000 at $2 million, and the last 500,000 shares at five dollars apiece. Jordan Belfort spent 1 million dollars and made $5.5 …show more content…
For example, he bought a two-acre estate for his family of only three at the time. Belfort later sold his estate in 1991 for $1.55 million. The house was built in 1986 and spans 8,706 square feet, on two acres of land. Belfort's 167-foot yacht, which was a wedding gift to his wife, sunk off the coast of Italy when Belfort, who was high on drugs at the time, insisted that the captain take the boat through a storm a Mediterranean Storm. They had to be rescued by the Italian Navy and to make room to be picked up they had to push the helicopter off of the top deck of the yacht to make room for the rescue chopper to drop down an Italian Navy
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