Boiler Room (2000) Trivia (19) Add new. Ben Affleck's speech to the new recruits is very similar to a speech given by Alec Baldwin in Glengarry Glen Ross (1992). Affleck took over Baldwin's The Hunt for Red October (1990) role in The Sum of All Fears (2002), appeared with Baldwin in Pearl Harbor (2001), and played Baldwin on an episode of. Boiler Room Quotes Simple Ben Affleck In Boiler Roomclassic Speech Movie Quotes picture is in category Quotes that can use for individual and noncommercial purpose because All trademarks referenced here in are the properties of their respective owners. You can browse other picture of Boiler Room Quotes Simple Ben Affleck In Boiler Roomclassic Speech Movie Quotes in our galleries below.
I’ve watched four times and I still don’t get it!! Here’s the best I could come up with about how JT Marlin makes its money, using examples mentioned in the film:(1) Before companies like Farrowtech go public, they need to raise capital for the maintenance of their operations. So they approach an investment bank such as JT Marlin.(2) JT Marlin helps the company out through bridge financing, which means they give the company the capital they want, as a loan.(3) In return, JT Marlin receives discounted shares in the company.
JT Marlin also has to find outside investors who will buy these shares, and thus use the sales revenue to pay themselves back.(4) The investors JT Marlin attracts aren’t outsiders, but friends of the managing director, Michael. Farrowtech’s shares essentially belong to Michael alone, and he’s free to sell them to who he likes.(5) Since the “investors” are fake, JT Marlin hasn’t actually raised any cash, so their newly acquired shares are worthless. Now, JT Marlin hires brokers to cold call people, exaggerate the value of their products (lying, basically).
And encourage them to buy the Farrowtech stock.(6) As the shares belong to Michael, he can fix the commission each broker receives for each share they sell. Fixing it at $2 or $3 entices the brokers to sell as much as possible, and brings out their sense of greed, but I think this is illegal, according to SEC and FINRA rules.(7) The brokers’ hard work at selling Farrowtech stock creates artificial demand, which initially drives the share price up. Eventually it gets high enough so that JT Marlin can sell the shares on the stock exchange at a profit. This is a pump and dump. So far, so good.Here’s where I’m stuck.
At around the 76 minute mark of the film, Seth Davis states that (1), (2), and (3) are fine “as long as there’s no connection between the investors and the firm.” What firm? The investment bank, or the company trying to go public? We know that JT Marlin’s investors aren’t outsiders but Michael’s friends. This suggests collusion and an unfair advantage, which is illegal, right?
But what if it’s the other one, and the investors know the company trying to go public? So what?Additionally, numbers (1) through to (7) make sense for real companies e.g. Farrowtech was real in Boiler Room, and it offered JT Marlin microcap stock, by the looks of things. What about when JT Marlin bridge finances companies that don’t exist, like Med Patent?
In the Med Patent case, whose shares did Seth sell to Harry Renard? My theory is that the Med Patent case is outright fraud. The brokers cold call people believing they’re selling stock (a la Michael’s speech halfway through the film). But all that actually happens once the brokers successfully “sell” Med Patent stock to a person, is that they’re passed on to the secretary, who takes down their bank details, and the monetary equivalent of the “purchased” shares is deducted from their bank account.
This process is repeated across the trading floor every day until Michael is happy to move on.I’m unsure if the last two paragraphs are accurate. Can someone please give me a hand on nailing this once and for all? Here’s how it works.JTMarlin games Farrowtech meaning it buys craploads of shares when its inactive and buys some in the early stages of the move. It then uses its brokers to stimulate demand so that JTMarlin and friends can get out with a healthy profit, selling to the chumps that Seth is talking to. Commissions to JT brokers are high but not crazy in this scenario.JTMarlin CEO creates MedPatent and insiders (JT and friends) own all of the shares. It then stimulates demand and forces the price up and eventually sells the shares to other investors as the stock continues to rise.
When JTMarlin is all out of stock to sell, the only holders are retail and the stock eventually crashes. This is why JT can give such large commissions on the trades b/c its 100% gain and the need to dump the stock is higher.this is all illegal and why the SEC/FBI or whomever is a big part of this movie. Boiler Room was mad homo.1. Bunch of faggie white guys acting hard. One does a line of coke and drops a N bomb in the first 10 min.2. Rap music is constantly playing in the background of this movie full of white guys. The only diversity is a fat black female secretary?!
Seth quotes the late Notorious B.I.G. Christopher Wallace must be rolling in his grave.3.
Ben Afflec is bragging about all his money. He dumps it on a car and has a huge house with nothing in it. Bunch of BSD ballers are watching Wall Street on a Friday night. Now das gangsta!?4. One of the bar scenes they are playing dice. I think this is the only time in history white boys played ghetto dice.5.
The white jew in the movie calls his white coworkers.-rich.6. The white two jews are fighting over the fat black secretary.
Since when do white guys chase the brown chocolate?And so forth. This movie was just bad all around. CFAvsMBA wrote:Boiler Room was mad homo.1.
Bunch of faggie white guys acting hard. One does a line of coke and drops a N bomb in the first 10 min.2. Rap music is constantly playing in the background of this movie full of white guys. The only diversity is a fat black female secretary?!
Seth quotes the late Notorious B.I.G. Christopher Wallace must be rolling in his grave.3. Ben Afflec is bragging about all his money. He dumps it on a car and has a huge house with nothing in it. Bunch of BSD ballers are watching Wall Street on a Friday night.
Now das gangsta!?4. One of the bar scenes they are playing dice. I think this is the only time in history white boys played ghetto dice.5. The white jew in the movie calls his white coworkers.-rich.6. The white two jews are fighting over the fat black secretary.
Since when do white guys chase the brown chocolate?And so forth. This movie was just bad all around.i think that was the point. They’re basically dumb school bullies making cash. /quoteBoth are based on Stratton Oakmont. Never seen Boiler Room but apparently was inspired by one of Belforts own stockbrokers who didn’t really know too much of what was really going on at the firm./quoteBoiler Room is partly inspired by Stratton Oakmont. The firm J.T.
Moran was also used as a basis. (The most obvious being the name of the firm, J.T. One of my first jobs on the street I reported to a J.T. He wasn’t involved in the shenanigans and had to spend mid-6 figures in lawyer fees to completely dissassociate with the firm.The below article from 2003 has some background on them.
:Pitching to the new recruitsThere is no question whether you'll become a millionaire. The only question is how many times over. You think I'm joking? I'm not joking, I am a fucking millionaire, it's a weird thing to hear, right?, it's also a weird thing to say, and guess how old I am?
Twenty seven, do you know what that makes me here? A fucking senior citizen, this firm is entirely comprised of guys your age not mine, luckily for me I happen to be very fucking good at my job or I'd be out of one, you guys are the new blood you are the future big swinging dicks of this firm, let me tell you what's required: you are required to work your fucking ass off at this firm, we want winners, not 'pikers', a 'piker' walks at the bell, piker asks 'how much vacation time you get in the first year', 'vacation time?' , people come to this firm for one reason: to become filthy rich, we're not here to make friends, we're not here to save the fucking manatees, you want 'vacation time?'
:to the new recruitsGod damn it you fucking guys you passed the Series Seven over a month ago. Seth's the only one opening the necessary forty accounts for his team leader, when I was a junior broker I did it in twenty six days. You're not sending out press packets anymore.
None of this 'Debbie the Time Life operator' bullshit, so get on the phone, it's time to get to work, get off your ass, motion creates emotion, I remember one time this guy call me up and wanted to sell me stock, so I let him. I got every rebuttal out of this guy, I kept him on the phone for an hour and a half, towards the end I started asking him 'buying' questions like 'what's the firm minimum?'
That's a buying question, right there that guy's got to take me down. It's not like I asked him 'what's your 800 number?'
That's a 'fuck off' question. I was giving him a run and he blew it, the answer to a question like that is 'zero', you don't like the idea don't pick a single share, but this puss is telling me 'a hundred shares' no! Wrong answer! You have to be closing all the time and be aggressive, learn how to push, ask them questions, ask them rhetorical questions ask them anything, just get a 'yes' out of them, 'if your drowning and I throw you a life jacket would you grab it?'
, 'yes', good, pick up two hundred shares I won't let you down', ask them how'd they like to see thirty, forty percent returns, what are they going to say? 'no, fuck you I don't want to see those returns', if you can't learn how to close you better start thinking about another career and I'm deadly serious about that, dead fucking serious, and have your rebuttals ready a guy says 'call me tomorrow', bullshit, somebody tells you they got money problems about buying two hundred shares is lying to you, do you know what I'd say to that? 'Tell me you don't like my firm, tell me you don't like my idea, and tell me you don't like my fucking neck tie, but don't tell me you can't put together twenty five hundred bucks, that's it I'm done. :to the new recruitsI want to talk to you guys about appearance because most of you dress like shit. I don't know what your financial situation is and I don't want to know, but you've got to get yourself at least one descent suit because we have a minimum level of aesthetic professionalism we have to maintain.
In three months you can outfit your entire closet but for now just get something to hold you over, secondly, it's time to get your series 7 books, don't get nervous if you study you'll pass and then you begin trading as an FCC licensed broker, then you're a fucking millionaire and it's just that simple, I need three hundred bucks from each of you for the books and it will be returned if and when you pass the exam and I need that tomorrow that is all. :to the new recruits in the main conference roomI want to talk to you guys about appearance because most of you dress like shit. I don't know what your financial situation is and I don't want to know, but you've got to get yourself at least one descent suit because we have a minimum level of aesthetic professionalism we have to maintain.
In three months you can outfit your entire closet but for now just get something to hold you over, secondly, it's time to get your series 7 books, don't get nervous if you study you'll pass and then you begin trading as an FCC licensed broker, then you're a fucking millionaire and it's just that simple, I need three hundred bucks from each of you for the books and it will be returned if and when you pass the exam and I need that tomorrow that is all.