Updated April 2023
Belforte (see Wikipedia) (aka the ‘Wolf of Wall Street’) is a convicted former USA stockbroker with 2 autobiographical books, retold in the movie The Wolf of Wall Street (played by Leonardo DiCaprio). The Aussie tale that the Wolf of Wall Street Jordan Belfort won’t tell. Now a motivational speaker, Belforte walked out of an Australian 60 Minutes interview when questioned about his income, verbal contracts and repayment obligations to investors who had lost money through his investments. While his story and books are entertaining, even if only half the excesses are true, there’s no doubt the American financial systems needs reforming. His response to the interview, calling for a boycott of 60 Minutes and his personal attack on Liz Hayes – are typical Belforte speak! Respected investment adviser Dale Gillham’s blog ‘The Wolf of Wall Street‘ explains Belforte’s strategies and warns: “one thing that is constant in the share market is that there are always people trying to get rich through buying perceived ‘cheap’ shares.” In The Rat of Long Island – 13 Reasons to Reject Jordan Belfort, Neil Jenman has some clear warnings.
If you want to see some more tricks to stock market rigging, check out the highly regarded US financial author Michael Lewis.