The Wolf of Investing by Jordan Belfort

Author:Jordan Belfort
Language: eng
Format: epub
Publisher: Gallery Books
Published: 2023-10-30T00:00:00+00:00

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NOW, BEFORE WE GO ANY further, there’s one small point that I want to quickly raise with you. You see, I know what you might be thinking right now.

You might be thinking, Come on, Jordan, all this SEC-bashing sounds a little bit self-serving coming from a guy like you, who was sued by the SEC for stock manipulation and ended up paying a $3 million fine. You probably think you were unfairly persecuted by a system that’s morally bankrupt and rotten to the core.

If that’s what you’re thinking, I totally get it. I can see how it might appear that way, if you don’t know the full story. It looks like I still hold a grudge and I’m out to get the SEC.

So let me take a moment to set the record straight: nothing could be further from the truth. I don’t have even the slightest bone to pick with the SEC, and I certainly never felt that I was even the slightest bit persecuted. Even in jail, where inmates are constantly swearing their absolute innocence, I used to say, “I’m the only guilty man in Shawshank!”

You get it?

I have never held any illusions that I was an innocent man wrongly accused by some rogue investigators, and then railroaded by a justice system that was out to get me. I was guilty as charged, plain and simple! I broke the law, and I got what was coming to me. I’ve never tried to minimize or rationalize that.

In fact, in hindsight, getting caught by the SEC turned out to be one of the best things that ever happened to me. My fall from grace taught me invaluable lessons that I otherwise never would have learned, lessons that served as the very foundation for the amazing life that I now have today.

So, again, my problem with the SEC has got nothing to do with past interactions or how they treated me. Rather, it has to do with the fact that they, the SEC, know exactly what’s going on at the big firms on Wall Street—all the front-running, the stock manipulation, the bubbles, the fraud, the malfeasance—and they do nothing to stop them, save hitting them with laughably small fines that have the impact of a speeding ticket.

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