Thinking about getting into the business.

[Markthebroker]

What the f*ck are you talking about you tiny left handed freak?

Monkey boy takes particular interest in my anatomy. All my life I have been teased about my odd sized hand. Finally, in adulthood I thought I had gotten away from the taunting, and here on the forum I would be in a safe place. But no, Goillini52 forces me to relive it on a regular basis.

 

[Life Hawk]

Monkey boy takes particular interest in my anatomy.

...not a real good way to start that post.

 

[goillini52]

Monkey boy takes particular interest in my anatomy. All my life I have been teased about my odd sized hand. Finally, in adulthood I thought I had gotten away from the taunting, and here on the forum I would be in a safe place. But no, Goillini52 forces me to relive it on a regular basis.

Here's your Safe Space. I wouldn't recommend being in your Safe Space while flying.

 

[goillini52]

...not a real good way to start that post.

In his dreams.

 

[JoeWolf2020]

Grant Cardone is an extraordinary snakeoil marketer - he succeeds by overpromising and underdelivering. Belfort is the real deal. Cardone is not.

In that interview with Belfort, Cardone revealed the depth of his fraud more than most of his listeners will know. I picked up on it right away because I Have a unique perspective on Cardone that goes back 11 years or more.

Back when I was in the car business, Cardone, or so we all thought, was a hot shot car salesman, and what we thought was his company sold sales training to dealers across the country, and included a deal desking software. Turns out that Cardone was not the car salesman he told folks he was. However, he had talked himself up enough that he convinced a training company to license from himself the Cardone name and his likeness and sell this as "The Cardone ePencil Method."

I still have most of the CD's - Cardone's face, but a hired gun narrator.

Cardone actually has a video on youtube where he visits a car dealer down in Louisiana where he claims "it all began." But he was never the mover of metal he claimed to be. In the interview with Belfort, he admits he was not a good salesman, doesn't mention his "success" as a car salesman (or even that he ever sold cars at all), and mentions the licensing deal without revealing he is talking about the "Cardone ePencil Method."

Belfort, on the other hand, knows how to sell. Back in the 90's when I was in my 20's I spent some time as a series 7 broker in NYC for CIBC Oppenheimer and as a Series 3 futures/commodity broker with a now defunct introducing broker.

But I got my start working for a little "discount" broker named J B Oxford. I can't prove it, and as far as I know, the government never looked at it as seriously as they should have, but my guess has always been that the "JB" of JB Oxford referred to none other than Mr. Belfort.

I started as a cold caller. We were trained to use scripts that are literally straight out of The Wolf of Wall Street movie. We were the firm that cleared the trades for Stratton Oakmont, Belfort's firm.

I remember like yesterday the day Ian Clay, our manager, came out onto the floor and announced "We have the Stratton Oakmont leads!" These were the folks who had been taken by Stratton Oakmont and our job was to sell them more $hit by playing on their desire to "get back to even." I remember the stock we were to pitch that day: "Opthalmic Imaging Systems - OISI I think was the symbol. It was $2-$3/share stock paying the broker a $1/share commission.

I started looking for a blue chip firm to take me the next day and about a week later I was with CIBC Oppenheimer. The day after I left, the FBI was in J B Oxford's NYC office looking into the connection between J B Oxford and Irving Kott. We were always told Irving was the owner of the company. However, 'til the day he died he claimed he was merely a hired consultant.

The point of all that is this: Belfort knew how to sell and he know how to teach people to sell and he knew how to teach people to teach other people to sell.

Cardone, on the other hand, is a con man. He is currently making most of his money, it seems, from sucking non-accredited investors into his real estate deals that are funding his guru lifestyle and private jets. And if Cardone ever finds this post, he'll probably have his lawyer send Sam a letter demanding it be taken down.

I follow Cardone. I know people on his training. What I was told is that more or less he is a guy who (and is very open about it) had his personal issues and overcame them by always working and keeping himself busy with selling and that he was good at what he did because he played the numbers game but just had such high volume that he made alot of sales. I thought he said in an interview that he created Cardone training because he got into an issue with someone at that Louisiana Car dealership and got fired maybe I heard wrong though.

So are you saying that he basically just branded a "Private Label" training course??

 

[Markthebroker]

I follow Cardone. I know people on his training. What I was told is that more or less he is a guy who (and is very open about it) had his personal issues and overcame them by always working and keeping himself busy with selling and that he was good at what he did because he played the numbers game but just had such high volume that he made alot of sales. I thought he said in an interview that he created Cardone training because he got into an issue with someone at that Louisiana Car dealership and got fired maybe I heard wrong though.

So are you saying that he basically just branded a "Private Label" training course??

"Just keep working more hours."

That's a great way to make you or your employees go nuts and/or quit.

 

[Tahoe Ray]

NYC, North Jersey, and Long Island were the wild west of the east for stock jockies in the 90's. I hate to admit it but until that day when everyone was celebrating the Stratton Oakmont leads, I thought I was doing good lol. I thought it was normal to get paid $15K to sell someone 10,000 shares of a $3 stock - I mean, they were speculative, right? I'm embarrassed how naive I was.

Yep...started the same way (NYC). Cut your tie, 40 accounts, all that BS. Loved the D&B leads.

I started (without direction) trying to pitch companies like Microsoft and IBM and was told (with direction) that the stock doesn't matter, all that matters is the story and to start selling house crap.

I got my 7, made some money and bounced to the packaged products/wholesale side in less than a year.

I took a pay cut but it was well worth it in the long run.

 

[Tahoe Ray]

"Just keep working more hours."

That's a great way to make you or your employees go nuts and/or quit.

When I started in financial services, the "managers" tried to get you in debt...gotta pay it back! But then again we were already nuts and working crazy hours.

 

[JoeWolf2020]

When I started in financial services, the "managers" tried to get you in debt...gotta pay it back! But then again we were already nuts and working crazy hours.

What do you mean get you in debt, like get you spending money so you would be motivated to make money.

 

[DHK]

What do you mean get you in debt, like get you spending money so you would be motivated to make money.

Yep. This thread was an AdvisorToday article (NAIFA publication) that actually advocated for new agents to go lease a Mercedes and invest in a better address so you can network with more 'affluent' clientele.

https://insurance-forums.com/commun...t-till-you-make-it-article.64505/#post-842644