Jordan the wolf of wall street7/4/2023 ![]() ![]() After all, I’d just done a piece on PFOF (payment for order flow) detailing the legacy of another flimflammer, Bernie Madoff. Does this past master of starting crazes see the Reddit phenomenon as a long-overdue democratization of the stock market, or a frenzy detached from the fundamentals of investing? I also wanted to get his view-as someone who knows how the money is really made in trading-on whether the “zero-commissions” offering that rallied the retail crowd is a boon or a rip-off. Robinhood,” I leaped at the opportunity to interview the reformed huckster. Who better than Belfort to opine on whether hordes of Gen Xers teaming to buy beaten-down stocks and online brokers selling order flow are good or bad for the little guy? When I recently received a blast email from a PR firm representing Belfort, offering his “expert opinion” on such issues as “Reddit vs. But Belfort reinvented himself as a motivational speaker and consultant to the likes of car dealerships and vacation rental outfits, and he takes pride in being able to discern the real deal from the crowd-pleasers and con jobs. ![]() ![]() ![]() He fleeced small investors out of $200 million, a scam that in 1999 landed him in prison for nearly two years. The self-proclaimed “The Wolf of Wall Street” (from his 2011 book and the 2013 Martin Scorsese movie of the same name) was a boiler-room impresario. Jordan Belfort always knew how to push the hot buttons that got regular folks to crave what he was selling-in the old days, as a maestro of penny stocks. ![]()
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