Jordan Belfort was Friday in town so I took the possibility and booked a seat to see the real Wolf of Wall Street live after reading his books and watching his movie. I have read some negative reviews about his last show so I was expecting a great show this time and I wanted to learn from his great experience.
The ExCel in London was filled with around 3000 people and we were all waiting to see Jordan. He entered the stage making some jokes and everybody was well entertained when he started to teach about the connections of the inner-, outer world and the importance of those for the own success. Afterwards he started talking about the importance of the people surrounding somebody and introduced Greg Secker (Internationally Acclaimed Wealth Creation Expert), Andy Harrington (The World’s Leading Public Speaking Expert) and Shaun Shelton (Opportunity Investing). At this point I was wondering a bit since I read already about it and could not beliefe Jordan will invite those three speakers once more if people were here to see him speaking. But since I was there I gave it a shot and here are the funny results.
Greg Secker claimed to be an expert in Forex trading even if I could not find any proof of his previous career or track record on google. He is selling courses for around 2000£ where people are taught how to make a shitload of money, trading Forex on a daily basis while they are at work with only three strategies.
I am not a technical analysis expert since I am more interested in the fundamental analysis but after reading a few books and trying out by myself I can claim to know very well about candlesticks, indicators, resistance and support lines. I don’t even want to doubt about Gregs knowledge about those stuff but Mr. Secker I am not an idiot. The three simple trading strategies which lead directly to a gold mine must be bullshit. I don’t want to go too far into details but bring the idea of the „Janurary Effect“ into this discussion. Every first year finance student learns, that trading patterns which exploit an inefficiency in the market work only as long as other people do not copy them. When more people start using the same pattern it simply disappears because everybody wants to be the first who takes a piece of the cake. Mr.Secker knows even three of them, shares those with countless people and makes them all millionaires in a couple of privat sessions. „If it sounds too good to be true, it probably is“ might be a limiting belief but I also like to use the rational part of my brain to discover moronism.
Andy Harrington was probably the best of those three guys I was not there for but in case of content and performance he was pretty good. Its obvious that he also wanted to sell his product but his speaking skills are amazing and the sell process by itself was also structured and very subtle. If he is able to teach this to his students in his seminar the price is even worth it I guess.
The disaster of this day was manifested in the person Shaun Shelton. He is the new visionary of the american mortgage market and lures people with return on equity up to 50% in a few months. Summing up the two hours of bullshit besides the 50% return, still some funny statements remain you can think about.
„Berkshire and Hathaways share price increased in the past months because of Warren Buffet, who decided to buy US homes.“
Never heard of money flooding the market what increases ALL share prices?! Or is B&H the only share which performed well during the last months?
„Your return increases but your risk level remains the same“
Wow thanks god you have found the holy grail of the financial world.
„The demand of houses in the US is increasing and thats why prices will increase significantly. Just compare the US prices to UK prices for similar homes, the only difference is the location.“
The point was reached when I just wanted to scream out loud „And what do you think is the most important element of a house price if not the location you retard? Or have you seen somebody buying a piece of land in Fukushima?
„If your tenants will move out you can still break down your house and sell the property.“
I mean what?! What will happen if just nobody wants to buy the property since the US seems not to lack space for property?
In the end Jordan was back on the stage and this was probably finally the reason I have booked the show for. He is really awesome very charismatic and he managed to save the mood of the crowd after Shaun Shelton dispersed the half of the hall. It would be great if Jordan would do his coming events on his own since the reputation of his Brand would not be damaged by those incidents. He is such a cool guy with a great story to tell and furthermore exceptional experience everybody can learn from. Even if the event in general was not recommendable the part of Jordan was worth the price and everybody should grab the possibility if it comes around to listen to him.
So Jordan keep on the great work but please do it your own way forget about the company which organized it, forget about the three guys which bored the crowd. If somebody is capable of doing a great event on his own it is you for sure.
There was one point where I had to laugh and was thinking of „The Wolf of Wall Street is hunting again“ and he must be proud of this 50% return on equity promises Shaun was talking about when I saw the guys running to the sales tables getting their sessions bookings.
Overall I have to add that it is pretty terrifying how many people visit such an event having no background about financial topics and believe those guys that you can easily become a millionaire without serious efforts following a few hints. I was sure that it is not possible to sell people such a junk in the age of the internet, like it was possible 20 years ago but unfortunately it is still more than possible. I guess the human nature simply does not change through time and emotional triggers like becoming rich overnight remains a great opportunity to rub people. Jordan was basically the only one who said that dedication, passion, hard work and perseverance are the key to success and financial freedom.