Boiler Room Call

RedDuke · Apr 23, 2010

I just got a call from some broker, and the lines were taken strait of boiler room movie.

... A junior broker called you some time ago, and I am getting back to you, as promised, with investment idea...

Told him that I never got any calls. Then he says:
... If you get as many phone calls as I, you probably forgot, but here is an idea.....

Gee, can't they come up with something new.

redduke

spindr0 · Apr 23, 2010

What we've been doing to take advantage of this opportunity is buying anywhere from 2 to 50 thousand shares for our clients. I'd like you to start off with 5,000 at 7. That's an investment of 35 thousand. For every 5,000 shares you will make a $40,000 profit if we're dead right. If we're half right, say the stock only goes to 10 then you only make $15,000. But Mr. Red Duke, If we're wrong, your risk is 5-1/2. That's about 10%. If we cost you 10%, I close your account. How would you like your account to read???

(Ask him to hold while you switch phones. Put the receiver down and read the newspaper).

ElCubano · Apr 23, 2010

Quote from RedDuke:

I just got a call from some broker, and the lines were taken strait of boiler room movie.

... A junior broker called you some time ago, and I am getting back to you, as promised, with investment idea...

Told him that I never got any calls. Then he says:
... If you get as many phone calls as I, you probably forgot, but here is an idea.....

Gee, can't they come up with something new.

redduke

why change a good thing...the "BOX IN" pitch. It is desigend to get 3 yes's from you and at least 100 shares of a blue chipper...

"I know you get a 1000 calls a day and it's hard to distinguish between who's right and who's wrong; all I want today is to pick up an amount you feel comfortable with. Once this pick turns out as i say it will, all i want you to promise me is that we do bigger business next time"....Where would you like the confirms sent?

client. No

"mr.jones, you like the idea, you buy stocks. the only reason you say no is becuase you don't know who I am. Give me this one shot at your business, 100 shares. it won't make you alot of money, but when you see that I am right on this we will be able to work on bigger things down the road"...I have your address as &*((*&((*...what's your social security number? "

client..fuck you dude...

always be closing...peace

hughb · Apr 23, 2010

Quote from spindr0:

What we've been doing to take advantage of this opportunity is buying anywhere from 2 to 50 thousand shares for our clients. I'd like you to start off with 5,000 at 7. That's an investment of 35 thousand. For every 5,000 shares you will make a $40,000 profit if we're dead right. If we're half right, say the stock only goes to 10 then you only make $15,000. But Mr. Red Duke, If we're wrong, your risk is 5-1/2. That's about 10%. If we cost you 10%, I close your account. How would you like your account to read???

(Ask him to hold while you switch phones. Put the receiver down and read the newspaper).

Wow, straight from the Jon Roylance training tapes I had when I worked at Stuart James back in 1990.

bevo96 · Apr 23, 2010

I always tell them I want to short their idea. They say "why would you want to do that, I am telling you the stock is going higher" and I tell them I want to be on the same side of the trade as you.

That usually ends the conversation.

spindr0 · Apr 23, 2010

Quote from hughb:

Wow, straight from the Jon Roylance training tapes I had when I worked at Stuart James back in 1990.

LOL. I was an IPO whore in the 90's and was on the call lists. Without exaggeration, I received calls from 100's of brokers a year (tho some were probably from the same firm). My favorite TV show was Flipper

brownsfan019 · Apr 23, 2010

Boiler Room Call

RedDuke

spindr0

ElCubano

hughb

bevo96

spindr0

brownsfan019