Martin Scorsese’s newest film The Wolf of Wall Street, opens on Christmas day. Starring Leonardo DiCaprio, the movie should be a “must watch” film for every investor in the U.S. Jordan Belfort, the founder of notorious boiler room Stratton Oakmont, is the movie’s main character. Belfort was a stock thief of legendary proportions. By his own admission he cheated investors out of more than $200 million. He didn’t invent the boiler room, pump and dump and high pressure securities fraud, but he perfected the techniques and took them to another level. With markets at an all-time high and many of these scams rearing their ugly head again, Belfort’s story provides a great cautionary warning to investors. At a minimum, the movie, an early Oscar contender, reinforces some crucial lessons for investors. Here are eight of them...
Andrew Stoltmann is an attorney with the Stoltmann Law Offices in Chicago. He exclusively concentrates his practice in representing investors who are the victims of investment fraud. Previous to opening the Stoltmann Law Offices P.C., he was a partner in a law firm concentrating its practice in the representation of investors in lawsuits, arbitration claims and class actions against brokerage firms. Stoltmann is currently an adjunct securities law professor at Northwestern University School of Law in Chicago.
