The Wolf of Wall Street2013
Mark Hanna:
The name of the game; move the money from the client's pocket into your pocket.
Jordan:
Right. But, if you can make your 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 Buffett or Jimmy Buffett - Nobody knows if the stock's going to go up, down, sideways, or in f***ing circles, least of all stockbrokers. It's all a Fugazzi. You know what a Fugazzi is?
Jordan:
It's, uh... "Fugazi", it's a fake...
Mark Hanna:
Fugazi, Fugazzi. It's a wazzy, it's a woozy. It's [whistles] fairy dust. It doesn't exist. It's Neverlanded. It is no matter. It's not on the elemental chart. It's not f***ing real. Stay with me. We don't create sh*t. We don't build anything. So if you've got a client who bought stock at 8 and it now sits at 16, and he's all f***in' happy. He wants to cash in, liquidate, take his f***in' money and run home. You don't let him do that, because that would make it real. 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, because they're f***ing addicted. And then you just keep doing this, again and again and again and again. Meanwhile, he thinks he's getting sh*t rich, which he is, on paper. But you and me, the brokers, we're taking home cold hard cash via commission, motherf***er!
Submitted by wikidude on November 05, 2019
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