Mark Hanna: The name of the game; move the money from the client's pocket into your pocket.
Jordan: Right. But, if you can make your clients money at the same time it's advantageous to everyone, correct?
Mark Hanna: No. Number one rule of Wall Street: Nobody - I don't care if you're Warren Buffett or Jimmy Buffett - Nobody knows if the stock's going to go up, down, sideways, or in ****ing circles, least of all stockbrokers. It's all a Fugazzi. You know what a Fugazzi is?
Jordan: It's, uh... "Fugazi", it's a fake...
Mark Hanna: Fugazi, Fugazzi. It's a wazzy, it's a woozy. It's [whistles] fairy dust. It doesn't exist. It's Neverlanded. It is no matter. It's not on the elemental chart. It's not ****ing real. Stay with me. We don't create shit. We don't build anything. So if you've got a client who bought stock at 8 and it now sits at 16, and he's all ****in' happy. He wants to cash in, liquidate, take his ****in' money and run home. You don't let him do that, because that would make it real. No. What do you do? You get another brilliant idea. A special idea. Another "situation". Another stock, to reinvest his earnings and then some. And he will, every single time, because they're ****ing addicted. And then you just keep doing this, again and again and again and again. Meanwhile, he thinks he's getting shit rich, which he is, on paper. But you and me, the brokers, we're taking home cold hard cash via commission, mother****er!
Jordan: Right. But, if you can make your clients money at the same time it's advantageous to everyone, correct?
Mark Hanna: No. Number one rule of Wall Street: Nobody - I don't care if you're Warren Buffett or Jimmy Buffett - Nobody knows if the stock's going to go up, down, sideways, or in ****ing circles, least of all stockbrokers. It's all a Fugazzi. You know what a Fugazzi is?
Jordan: It's, uh... "Fugazi", it's a fake...
Mark Hanna: Fugazi, Fugazzi. It's a wazzy, it's a woozy. It's [whistles] fairy dust. It doesn't exist. It's Neverlanded. It is no matter. It's not on the elemental chart. It's not ****ing real. Stay with me. We don't create shit. We don't build anything. So if you've got a client who bought stock at 8 and it now sits at 16, and he's all ****in' happy. He wants to cash in, liquidate, take his ****in' money and run home. You don't let him do that, because that would make it real. No. What do you do? You get another brilliant idea. A special idea. Another "situation". Another stock, to reinvest his earnings and then some. And he will, every single time, because they're ****ing addicted. And then you just keep doing this, again and again and again and again. Meanwhile, he thinks he's getting shit rich, which he is, on paper. But you and me, the brokers, we're taking home cold hard cash via commission, mother****er!
Mark Hanna : The name of the game; move the money from the client's pocket into your pocket.
Jordan : Right. But, if you can make your clients money at the same time it's advantageous to everyone, correct?
Mark Hanna : No. Number one rule of Wall Street: Nobody - I don't care if you're Warren Buffett or Jimmy Buffett - Nobody knows if the stock's going to go up, down, sideways, or in ****ing circles, least of all stockbrokers. It's all a Fugazzi. You know what a Fugazzi is?
Jordan : It's, uh... "Fugazi", it's a fake...
Mark Hanna : Fugazi, Fugazzi. It's a wazzy, it's a woozy. It's [whistles] fairy dust. It doesn't exist. It's Neverlanded. It is no matter. It's not on the elemental chart. It's not ****ing real. Stay with me. We don't create shit. We don't build anything. So if you've got a client who bought stock at 8 and it now sits at 16, and he's all ****in' happy. He wants to cash in, liquidate, take his ****in' money and run home. You don't let him do that, because that would make it real. No. What do you do? You get another brilliant idea. A special idea. Another "situation". Another stock, to reinvest his earnings and then some. And he will, every single time, because they're ****ing addicted. And then you just keep doing this, again and again and again and again. Meanwhile, he thinks he's getting shit rich, which he is, on paper . But you and me, the brokers, we're taking home cold hard cash via commission, mother****er!
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