A Boiler Room Tale

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Put Trader's picture
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An associate just sent me this URL, for my amusement.  He found it
because he became fascinated by bucket shops and started Googling.

This is a very well written piece about boiler rooms--it will take you
awhile to read it but it's an interesting look into the dark side of
our business.

If you substitute SW Bach for HJ Meyers you may have an
indication--just may, not will--of an article that could be written in
two or three years.  There are several of these places around the
country.

If you don't have a college degree and you are working at a place you never heard of..............

http://securities.stanford.edu/1010/HJM97/001hjm.html

tjc45's picture
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Put Trader wrote:An associate just sent me this URL, for my amusement.  He found it because he became fascinated by bucket shops and started Googling.This is a very well written piece about boiler rooms--it will take you awhile to read it but it's an interesting look into the dark side of our business.If you substitute SW Bach for HJ Meyers you may have an indication--just may, not will--of an article that could be written in two or three years.  There are several of these places around the country.If you don't have a college degree and you are working at a place you never heard of..............http://securities.stanford.edu/1010/HJM97/001hjm.html
Scariest boiler room story:
As First Jersey's ship was torpedoed the rats jumped ship to Phillips Appel and Walden, and turned it into another bucket shop. It didn't take long for Phillips to start listing, so they sold off their branch network. They sold their Marlton NJ branch, fully populated and managed by First Jersey Alumni "in kind' to A.G. Edwards. To this day that office is still there. Lots of interesting stories about how the managers got their million dollar books. Operates like no other Edwards office in the country.

Mojo's picture
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It's funny how the tales name changes when you increase scale. So the
"players" swap their shiny suits for Oxford Clothes. Tipped instead of
capped. I wonder how many MBA'd (bentnosed) suits from Morgan Stanley
and UBS were in on the  Parmalat "huge fraud scandal." That sacred
cow got bilked (oops), I meant milked for millions (oops) I meant
BILLIONS.  

Put Trader's picture
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Mojo wrote:It's funny how the tales name changes when you increase scale. So the
"players" swap their shiny suits for Oxford Clothes. Tipped instead of
capped. I wonder how many MBA'd (bentnosed) suits from Morgan Stanley
and UBS were in on the  Parmalat "huge fraud scandal." That sacred
cow got bilked (oops), I meant milked for millions (oops) I meant
BILLIONS.  

So the "Fist Full of Forex" scamster chortles and points to another fraud as justification for his own sleazy career choice.

Gotta love it.  Ain't this country grand that somebody like Mojo is allowed to breathe the same air as the rest of us?

Starka's picture
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Put Trader wrote: Mojo wrote:It's funny how the tales name changes when you increase scale. So the "players" swap their shiny suits for Oxford Clothes. Tipped instead of capped. I wonder how many MBA'd (bentnosed) suits from Morgan Stanley and UBS were in on the  Parmalat "huge fraud scandal." That sacred cow got bilked (oops), I meant milked for millions (oops) I meant BILLIONS.   So the "Fist Full of Forex" scamster chortles and points to another fraud as justification for his own sleazy career choice.Gotta love it.  Ain't this country grand that somebody like Mojo is allowed to breathe the same air as the rest of us?
 
What do you mean, "the rest of us"?  You're nothing but a bloodsucking leech yourself, ClerkBoy.

Put Trader's picture
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Starka wrote:What do you mean, "the rest of us"?  You're nothing but a bloodsucking leech yourself, ClerkBoy.

Ah, the epitome of "Me thinks thou doest protest too much."

Starka is the forum's Penny Stock Whore.  It's difficult to tell who is sleazier, him or Mojo.

Mojo's picture
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Put Trader wrote:
Mojo wrote:It's funny how the tales name changes when you increase scale. So the
"players" swap their shiny suits for Oxford Clothes. Tipped instead of
capped. I wonder how many MBA'd (bentnosed) suits from Morgan Stanley
and UBS were in on the  Parmalat "huge fraud scandal." That sacred
cow got bilked (oops), I meant milked for millions (oops) I meant
BILLIONS.  

So the "Fist Full of Forex" scamster chortles and points to another fraud as justification for his own sleazy career choice.

Gotta love it.  Ain't this country grand that somebody like Mojo is allowed to breathe the same air as the rest of us?

I have enjoyed the spankings I've given you Put. You bring out the
sadist in me. I may not be capable of resisiting future swattings if
your corruptable skinflinted buttocks (insert "opinions" for the
metaphorically challenged) continue to posture and protrude from such a
perverted angle. Your penchant for abuse and humiliation takes
masochism and financial perversions towards the end of the line for
suffering and disease. BTW, did you notice that when you say "We" or
"Us" in the collective...the Modus Ponens would require conditional postings for logics to be defined, which remain eerily ghostlike. Who is We? Oui?

Starka's picture
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Posture all you want, ClerkBoy!  You and I (and I suspect the rest of the board as well) know what you are.  And what's infinitely more interesting, what you're not!  So continue to envy me and all of the rest of us that CAN produce!

Put Trader's picture
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Starka wrote:Posture all you want, ClerkBoy!  You and I (and I
suspect the rest of the board as well) know what you are.  And
what's infinitely more interesting, what you're not!  So continue
to envy me and all of the rest of us that CAN produce!

That is such curious nonsense.  What about my story indicates I cannot produce?

Put Trader's picture
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Starka wrote:Posture all you want, ClerkBoy!  You and I (and I
suspect the rest of the board as well) know what you are.  And
what's infinitely more interesting, what you're not!  So continue
to envy me and all of the rest of us that CAN produce!

Starka, where I come from produce means to open accounts and persuade
clients to invest money that will not be converted into "chop" such as
is the practice in the places you work.

What those of your ilk do is not producing--you're scamming
unsuspecting people out of their life savings.  You deserve to be
in prison, but instead you're depositing verbal drivel on an Internet
website.

What about your type of production is admirable?

Starka's picture
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To start with, the statement that you are anything other than an office pogue. 
Quite droll, ClerkBoy.

Starka's picture
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C'mon ClerkBoy.  You can do better than that, can't you!  (It's fun to watch you melt down!)

Mojo's picture
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Put Trader wrote: That is such curious nonsense.  What about my story indicates I cannot produce?

Okay, if we are going to make "I beat the senseless crap out of you"
work, you will need to stop dumbing down your character. I need you to
continue to project you're the King of Ithaca and not a pollyanna
pinstripped princess. Where is my bete noire Squirt? People want
reality (think CSI: Wallstreet Wanabes) not Little Manager on the
Praire.

Mojo's picture
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And quit saying "I am a Transaction fee" aloud. It's freaking everyone out.

Put Trader's picture
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Isn't the human brain an marvelous organ.  Right on this forum we
have two sterling examples of how it will allow somebody with no
socially redeeming qualities to believe in themselves.

Mojo and Starka are both involved in the dark side of the investment
world--one peddles stock in non-existent companies to people who have
zero sophistication.

The other cons slightly more sophisticated people into speculating in
the foreign exchange market (FOREX).  Forex is a worldwide hotbed
of fraud that appears to eclipse the damage done by the penny brokers
when it comes to pure dollars converted from client assets to ill
gotten gains by the Forex community.

Both of these sleaze balls operate in a gray area that escapes SEC
interest unless it becomes truly outrageous.  Starka sells stocks
in companies that don't exist--but never more than $5,000,000 worth of
them so he and those of his ilk fly below the radar in the area of a
Regulation A exemption.

Mojo operates in the international markets--much like banks in the
Bahamas and Switzerland.  These "players" operate beyond the reach
of the SEC.

What the readers of this forum need to know is that you don't want to be like either of them.

As you begin your career it would be far better to aspire to become a
Senior Vice President at a major New York Stock Exchange member firm
than to go to bed at night thinking, "Well, if they're that dumb
somebody was going to screw them out of their money.  It might as
well have been me as somebody else."

Starka's picture
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LOL...Do they have gravity on your planet, ClerkBoy?
I haven't sold a share of stock in years, Boy, and even when I did, I never handled penny stocks. 
It's odd, but I never tire of your simplemidedness!

Put Trader's picture
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Starka wrote:LOL...Do they have gravity on your planet, ClerkBoy?
I haven't sold a share of stock in years, Boy, and even when I did, I never handled penny stocks. 
It's odd, but I never tire of your simplemidedness!

Right, and I'm the King of Spain.

You may not believe this Starka, but very few criminals admit that they're criminals.

That a penny stock "Goodboy" would deny the reality of his life is not unexpected.

Starka's picture
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Yes, Your Majesty.
(What a dolt.)

Mojo's picture
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Okay we have two choices, Putsy. One, we continue to perform this
whacked out schtick where you play the mensch and warn all the goyim
outside of Gotham that really bad people only do really bad things if
they score below 85 on the S-7 and do not pocess an MBA. Or,
two....rats. What's the chance we could get someone from your staff (we
can hire a temp for the week Putsy...don't start sweating the details)
for a documentary-style  hidden camera interview. I can be Bill
Moyel. We'll follow you around to different places...newstand,
chopstick joint, peep-show, drugstore and repeat the camera angle as
you say "I am a Senior Vice President at a Major-Major Brokerage firm."
The transition to your "real life" after these meanderings should be
priceless.

Put Trader's picture
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Mojo wrote:Okay we have two choices, Putsy. One, we continue to perform this
whacked out schtick where you play the mensch and warn all the goyim
outside of Gotham that really bad people only do really bad things if
they score below 85 on the S-7 and do not pocess an MBA. Or,
two....rats. What's the chance we could get someone from your staff (we
can hire a temp for the week Putsy...don't start sweating the details)
for a documentary-style  hidden camera interview. I can be Bill
Moyel. We'll follow you around to different places...newstand,
chopstick joint, peep-show, drugstore and repeat the camera angle as
you say "I am a Senior Vice President at a Major-Major Brokerage firm."
The transition to your "real life" after these meanderings should be
priceless.

What amuses me is this guy is fairly well spoken--making him even more dangeous has he fleeces his victims.

Mojo's picture
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Put Trader wrote:Right, and I'm the King of Spain.

Okay, okay. We can work with the maniacally monarchical idolatry. Just
don't transition to dead poets or presidents. There must be some
boundaries, Spaceboy.

Mojo's picture
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Option Two notes: Switch between The Platters and Freddie Mercury's
(Queen, how prophetic Put) versions of The Great Pretender. We can use
the 50's version for backstopping your formative years (first
experiences with demeaning yourself) and switch to a techno version
from Queen for the 80's (highlight your rung holding skills as you
fight your way up through attrition and tenure from the  bottom of
the corporate ladder). For the new millennium we book someone like the
Black Eyed Peas to cover the 15 year drought that brings us to the
current state of misery. Good stuff.

Duke#1's picture
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Mojo wrote:Option Two notes: Switch between The Platters and Freddie Mercury's (Queen, how prophetic Put) versions of The Great Pretender. We can use the 50's version for backstopping your formative years (first experiences with demeaning yourself) and switch to a techno version from Queen for the 80's (highlight your rung holding skills as you fight your way up through attrition and tenure from the  bottom of the corporate ladder). For the new millennium we book someone like the Black Eyed Peas to cover the 15 year drought that brings us to the current state of misery. Good stuff.
LOL.  Mojo, I didn't know Dennis Miller moonlighted as a broker! 

Mojo's picture
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Duke#1 wrote:Mojo wrote:Option Two notes: Switch between The
Platters and Freddie Mercury's (Queen, how prophetic Put) versions of
The Great Pretender. We can use the 50's version for backstopping your
formative years (first experiences with demeaning yourself) and switch
to a techno version from Queen for the 80's (highlight your rung
holding skills as you fight your way up through attrition and tenure
from the  bottom of the corporate ladder). For the new millennium
we book someone like the Black Eyed Peas to cover the 15 year drought
that brings us to the current state of misery. Good stuff.
LOL.  Mojo, I didn't know Dennis Miller moonlighted as a broker! 

Duke, P-diddle (oops), I meant P-diddler (I don't want be accused of
being the con in lexicon) makes these low-brow rants possible.  My
goal is to help the P become able to distinguish between healthy,
rational or actual thought vs. a destructive, or negative thought which
is a derivative for his socio-economic inferiority complex (this case
study will appear in my published findings on what I call
"Zero-worship") . If P challenges cognitive distortions while replacing
them with healthy, self-loving thoughts he will sooner be able to
validate his misery and accept himself for himself. Due to P's limiting
economic factors, he decided to radically explore experimental group
therapy on the internet.

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