Why I Believe the Wolf of Wall Street...

Why I Believe the Wolf of Wall Street…

Posted On September 26, 2020 12:00 pm
By: Steve Smith

I’m sure you’ve seen Martin Scorsese’s movie “The Wolf of Wall Street.”

In it, Leonard DiCaprio plays Jordan Belfort, a young stockbroker who became very rich by selling penny stocks to large investors…

Something no one else had been able to figure out how to do.

The movie depicts Belfort’s terribly debaucherous lifestyle fueled by cocaine, quaaludes, alcohol, and prostitution.

Here’s the thing, when I saw the movie I instantly believed it was a fictionalized version of the truth. Sure the volume was turned up a bit and timelines shortened…

But the story was basically true.

I saw this all in Chicago on the Commodities Exchange and the CBOE.

It was interesting because the old-timers trading soy and corn, et al would smell like booze when the opening bell rang.

On the other hand, the Options traders were younger and amped up on coke.

Young men, high testosterone, and a lot of money flowing around leads to bad places.

The part I never understood was how these guys, on both exchanges, functioned drunk and high. I would have been worried about making a bad trade if I was drinking on the job. (The nose candy and other illegal stuff was never my scene…but I did drink some in my 20’s)

Anyway, I can’t really get into specific stories here, because it just wouldn’t be appropriate. If we ever meet, ask me about some and I’ll be happy to share some crazy tales.

In the meantime, make sure to try out Options360 for an entire month for just $19.

It may even find that you make enough during the trial to pay for your full subscriptions – which is why we are offering the special trial price.

So far this year, we are up 32% – compared to about 2% for the S&P.

And I promise I am sober as a judge when I am looking for trades!

To Your Success,

Steve

P.S. There was a bar in Chicago that catered to the trading crowd. They had t-shirts that said, “Friends don’t let friends trade drunk.” It was kind of a cheeky slogan for the bar.

I always say, “Friends don’t let friends trade without Options360.” And now you can try it out for just $19

Tagged with: options360

About author

Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.