Thinking about getting into the business.

Jordan Belfort just did a video in September about an interview he had w/ Grant Cardone where Grant said no interest is an interest level.



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.
 
Personally, I think of Grant Cardone like Gary Vee.. great marketers, but Cardone pretends like he's something else.

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

You and I walked on very similar paths. I pitched low volume, IPO type stocks for a company called AS Goldman in the early nineties."Hi Irving, the last time we spoke I had left you with a recommendation to buy 1000 shares of Snapple at $25. Did you get a chance to follow it?Grab a pen and a piece of paper I want to walk you through my next idea."

When I read the WoSS book, I bust out laughing since the character played by Matthew M in the movie was a guy I knew from the old neighborhood. Both him and his brother did time for stock fraud, I worked for their cousin. In fact, all of the principals at AS Goldman were arrested for stock fraud.

I do like JB though, he's good at what he does.

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.
 
You and I walked on very similar paths. I pitched low volume, IPO type stocks for a company called AS Goldman in the early nineties."Hi Irving, the last time we spoke I had left you with a recommendation to buy 1000 shares of Snapple at $25. Did you get a chance to follow it?Grab a pen and a piece of paper I want to walk you through my next idea."

When I read the WoSS book, I bust out laughing since the character played by Matthew M in the movie was a guy I knew from the old neighborhood. Both him and his brother did time for stock fraud, I worked for their cousin. In fact, all of the principals at AS Goldman were arrested for stock fraud.

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.
 
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