If you become an employee of this firm, you will make your first million within three years. Okay? I'm gonna repeat that. You will make a million dollars within three years of your first day of employment at J.T. Marlin. There is no question as to whether or not you'll become a millionaire working here. The only question is how many times over. You think I'm joking? I am not joking. I am a millionaire. It's a weird thing to hear, right? I'll tell ya. It's a weird thing to say. I am a fucking millionaire. I am a fucking millionaire. And guess how old I am. Twenty-seven. You know what that makes me here? A fuckin' senior citizen. This firm is entirely comprised of people your age, not mine. Lucky for me, I'm very fucking good at my job, or I'd be out of one. You guys are the new blood. You're gonna go home with the kessef. You are the future big swinging dicks of this firm.
Si se convierten en empleados de esta compañía, harán su primer millón en tres años. ¿está bien? Voy a repetirlo. Ustedes harán un millón de dólares al tercer año work in JT Marlin. Not a question of whether it will become a millionaire working here. The only question is how millionaires. Do you think I'm kidding? I'm not. I'm a millionaire. Is it strange to hear it? It is also hard to say ... I'm a fucking millionaire. I'm a fucking millionaire. Guess my age. Twenty-seven years. You know what that means in a place like this? I'm a fucking elderly. This firm is composed of people of their age, not mine. Fortunately, I'm damn good at my job or not be here. You are the new blood. You are going to go home with the ticket. You are the future of this company rolling penises.
Now, you all look money hungry, and that's good. Anybody tells you money is the root of all evil doesn't fuckin' have any. They say money can't buy happiness? Look at the fuckin' smile on my face. Ear to ear, baby. You want details? Fine. I drive a Ferrari 355 Cabriolet. What's up? I have a ridiculous house in the South Fork. I have every toy you could possibly imagine. And best of all, kids, I am liquid. So, now that you know what's possible. Let me tell you what's required. You are required to work your fucking ass off at this firm. We want winners here, not pikers. A piker walks at the bell. A piker asks how much vacation time you get in the first year. Vacation time? People come and work at this firm for one reason: to become filthy rich. That's it. We're not here to make friends. We're not savin' the fuckin' manatees here, guys. You want vacation time? Go teach third grade, public school. The first three months at the firm are as a trainee. You make $150 a week. After you're done training, you take the Series Seven. You pass that, you become a junior broker and you're opening accounts for your team leader. You open 40 accounts, you start workin' for yourself. Sky's the limit. Word or two about being a trainee. Friends, parents, other brokers, whoever, they're gonna give you shit about it. It's true. $150 a week? Not a lot of money. Pay them no mind. You need to learn this business, and this is the time to do it. Once you pass the test, none of that's gonna matter. Your Friends Are shit. You Tell Them you made 25 grand last month, they're not gonna fuckin 'believe you. Fuck them! Fuck 'em! Parents do not like the life you lead? 'Fuck you, Mom and Dad. " See How It Feels When You're makin 'Their fuckin' Lexus payments.
You seem to be hungry for money and that's fine. Anyone who tells you that money is the root of all evil is because it does not. They say that money can not buy happiness? Look my fucking smile. From ear to ear. Want details? Well. I drive a Ferrari 355 Cabriolet. What? I have a home in South Fork. I have all the toys you could imagine. And best of all boys, I have liquidity. Well, now they know what is possible, let me tell you what is required. It requires hard work for this firm. We want winners not lazy. A lazy man will be the departure time. A lazy holiday question many have in the first year. Vacation? People come to this company for one reason: to be filthy rich. That's right. We are not here to make friends. We're not saving the fucking manatees. Do you want to vacation? Go to teach in the third grade in a public school. Are the first three months of training. Earn $ 150 a week. After your workout take the Series Seven (N. del T.: test to be a stockbroker). When you let him become junior riders and open accounts for their group leader. If you open 40 accounts, start working for you. The sky is the limit. A word or two about training. Friends, parents, other brokers or whatever they're going to fuck life because trainees (N. del T.: used in training stage). It is true does $ 150 a week? Not much money. They do not pay attention. You need to learn this business and it's time to do so. Once you pass the test, nothing else matters. Your friends are worth shit. Tell them they won 25 000 last month. They will not believe. Fuck them! Do your parents do not like the way they are taking? What mom and dad fuck! You'll see how it feels when you are paying them dues Lexus.
Now, go home and think about it. Think about whether or not this is really for you. If you decide it is not, listen, it's nothing to Be embarrassed about. It's not for everyone. Thanks. But if you really want this, you call me on Monday and we'll talk. Just do not waste my fuckin 'time.
Now go home and think. Think if this is really for you. If they decide they do not listen, it's nothing to be ashamed. Not for everyone. Thanks. But if you really want this, call me on Monday and talked. Just do not take away my fucking time.
The film title is a play on words that has two meanings: the traditional, which refers to a room or space in a building dedicated to accommodate the mechanical and electrical equipment. Historically, the 'boiler room' referred to the room where steam engines were housed, and of course, its operations generated enough steam. This is an indirect meaning, since in the movie if anything went wrong for the company, it was able to 'evaporate' and stay in another building for their activities. The other meaning, is more direct and relates more to the subject of speculative bubbles: refers to a room where sellers using dishonest tactics, commit securities fraud. The term implies customer pressure tactics and carries a negative connotation.
In the film, Seth Davis (Giovanni Ribisi) learns how employees and managers to get their exaggerated company earnings: JT Marlin creates speculative bubbles to inflate prices artificial of the shares of companies in which Seth later notes that do not exist or are broken. In this case, these 'Mini' bubbles follow the steps proposed by Minsky , except that employees of JT Marlin have inside information that lets them know that companies are likely to be used as 'bait' and People are potential victims of deception.
The difference of bubbles raises the film to those that have occurred throughout history, is that while the film bubbles are created and manipulated by Company executives for high profits, which have been submitted throughout history does not have a common element to explain their origin and therefore almost impossible to predict. Speculative bubbles are made with different properties and different contexts, but a constant is a phenomenon inherent in the capitalist system.
The first documented case of a speculative bubble was in Holland in the seventeenth century and was characterized by the rapid increase in the price of tulips. The bubble known as tulip mania grew to the point that a tulip bulb the people were willing to exchange properties of wheat, cattle, livestock, clothing, cheese and butter, among others (see chart).
The price was increasing rapidly and the bubble is formed when people became a good, not for their intrinsic value or usefulness but with the hope of future gain when the asset is resold. The bubbles burst when people begin to question whether the value they are paying for it is justified or simply buying criteria is to waiting for a future gain when the property is resold. In Holland many people became rich overnight the buying and selling tulips, however, when the bubble burst the country's economy was deeply affected and forced changes in the laws of this nation, with the aim of that this situation is not repeated again because the lesson had been learned. Apparently ...
Later, another fact of economic history in which speculative bubbles played a role was that of the Great Depression. Of course, this was not the only factor, however, was a key element in the development of this phenomenon. The behavior of U.S. stock market. UU. keeping prices unrealistically high and the bursting of the stock market bubble caused panic in other markets, industry and families. Government policies were nonexistent or wrong and the world suffered the worst economic disaster in its history in which not mediate a military conflict, natural disaster or a deadly epidemic. After the Second World War the major powers met to take action nationally and internationally, in order that this situation does not repeat again for the lesson had been learned. Right?
To verify that bubbles occur in any market and any good the market for comics is a good reference . From 1987 to 1993 the price of old comics, those published 30 or 40 years ago, reached exorbitant prices. Consequently, collectors began to buy the latest editions of comics with the hope that in a few years these were very valuable. Of course, publishers began to print more and significantly increase their numbers sales. In the end what happened had to happen: the bubble burst and almost led to bankruptcy for Marvel Comics and DC Comics. In this case, the collectors did not think that the reason why the old comics were so valuable was because of their scarcity. Proof of this is that recently sold at auction the first issue of Batman in a million dollars and that of Superman in a million and a half. It is unlikely that the comics published in the nineties worth as much as those of the forties and fifties, as the collectors acquired tens of thousands of these numbers, while the comics published in the forties and fifties were purchased simply as entertainment for teenagers. What happened to the market comic book was a phenomenon that the media widely reported, in order that this situation does not repeat again because apparently the lesson had been learned. Right?
Another key bubble of recent years is that of dotcom . In the late nineties, the stock prices of Internet companies reached absurd values, taking into account that it was not clear how the pages could obtain cash income and therefore profits. The fact is that many people, particularly young people, became millionaires overnight and everyone wanted to ride this new way to get rich. The cover of Time in 1997 on this issue was quite telling, "Getrich.com", describing this phenomenon but without providing for the brutal fall in prices meant $ 5 trillion in market value losses of companies with technological content. Of the companies that survived and are now successful, stand amazon.com, ebay.com and yahoo.com. Those who came later adapted a business model more focused on income they could get with the operation of the page that the benefits they could gain with increasing in the value of the shares. This speculative bubble technological nuance left several lessons and again was taken as a reference to the dangers of irrational speculation. Of course, measures were proposed in order that this situation does not repeat again because apparently the lesson had been learned. Right?
Finally, the latest example of a speculative bubble is related to what has become known as the Global Real Estate Bubble due to its origin market the estate. In early 2000 interest rates of commercial banks in the U.S.. UU. allowed easy access to mortgage credit by raising the value of homes. Again the pattern repeats. Investors do not buy houses because they need them, but because they think make a return to profitability when resold. In that sense, they are willing to pay an increasingly high price in the hope of obtaining a greater profit when they sell the house. In 2005 the house prices fell abruptly bubble blowing and being an important factor in the current economic downturn.
As you can see, the deal with speculative bubbles is that this phenomenon has occurred throughout history and in various countries without being perceived commonalities. Although there have been several hypotheses to try to explain it, the thing is its unpredictability makes bubbly periodically go into products that have nothing in common beyond being traded on a market. Perhaps the only common element in these bubbles is that the longer you delay a bubble burst, the consequences will become worse.
currently are considering changes in the regulation of banking and securities firms that extend credit, and several studies about the causes of bubbles so they could be reversed before it is too late. Obviously, these measures are aimed at this situation does not happen again, it seems that now if the lesson has been learned. Right?
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