Remember Tommy Belesis? Founder and CEO of preeminent boiler room John Thomas Financial? Breakout star of Wall Street 2: Money Never Sleeps? Mentor to Shia Labeouf? Guy who enforces rules at his shop about not letting junior employees sit down, who has cultivated an atmosphere in which senior brokers rub the balls of a bull every morning for good luck and walk around saying things like “motion creates emotion” without any irony, and who generally gives the impression he proudly displays towels in his guest bath that have been hand-stitched with the phrase “Don’t pitch the bitch,” which he make sure to point out during house tours? This may come as a surprise, as it seems so out of character, but he’s been charged with fraud and intimidation that in one instance involved suggesting an employee ought to look both ways before crossing the street. Read more »
Boiler Room Operator Who Doesn’t Let Junior Sit Down, Thinks Cameos In Shia LaBeouf Movies Are Good For Business Shockingly Charged With FraudBy Bess Levin
“Brokers who show up with stubble are sent to the bathroom, where a bow-tied attendant dispenses razors, cologne and candy.”By Bess Levin
Back in February, FINRA informed John Thomas Financial founder Anastasios “Tommy” Belesis, he of rallies for Wall Street and Wall Street 2: Money Never Sleeps fame, that he “may face disciplinary action on a claim that he artificially inflated the price of a stock,” while the Post reported that the firm was being probed by the FBI and the SEC. According to the firm’s lawyer, Robert Bursky, “There is not a shred of evidence that suggests there is an ongoing inquiry by the FBI,” and if you asked David Pitts, a spokesman for John Thomas, if the brokerage is a boiler room, which Bloomberg did, he’d say it is not (and that, on the contrary, “it helps real companies raise money and provides honest advice to investors”). Regardless of whether or not any of the allegations are true, a few business practices one might want to avoid if questions like “is this place legit” or “is this business entirely modeled after 2000′s Boiler Room” are being raised include: Read more »
Shia LaBeouf was escorted out of the LA opening of The Box nightclub by security Friday night after a confrontation with a pal of shock rocker Marilyn Manson [after LaBeouf “picked up a water bottle...and started spitting it all over his tablemates, including Marilyn Manson"]. The “Transformers” star “exchanged terse words with a friend of Manson’s, who lunged over the table at Shia, and Shia lunged back. “Two security guards led Shia out holding his hands behind his head. Outside, he fell onto a barricade. Swearing, he picked himself up and ran off.” Despite numerous witnesses at the party, also attended by Jon Hamm, Lindsay Lohan and Chelsea Handler, Shia’s rep said: “[He] actually left the club early as planned … he went to see one of the bands performing in the showcase and left after they finished … exiting through a crowded room was apparently misinterpreted. No altercation occurred.” [NYP, earlier]
All that studying, down the train. Read more »
Shia LaBeouf “Incentivized” His Trading Coaches To Make Him “Some Coin” By Promising Them Visits To The Set Of Money Never SleepsBy Bess Levin
Also, his top pick is McDonalds, if you’re looking for some ideas.
Daily Intel Jessica and I saw a screening of Wall Street 2: Money Never Sleeps last week. We haven’t shared our thoughts on it until now because we haven’t wanted to/been ready to talk about it. I’m not going to say it’s so bad you shouldn’t see it, but that’s just because it’s so bad it needs to be seen to be believed and we want more people to be able to share in our collective trauma. Like being stripped naked, covered in honey and sewn ass to mouth to your fellow members of the incoming Goldman Sachs analyst class, you can’t truly understand unless you’ve gone through something like that yourself. Read more »
Despite the fact that his co-star Shia Labeouf has the accumulated wisdom of several lunches with top brass at the Encino branch of Charles Schwab, sitting in on rounds 17-23 of the Goldman Sachs interview process, and months of studying for the CFA’s Level I exam only to come down with a stomach virus the day of the test, it was retired investor Mike D who will be talking shop at CLSA’s investor conference in Hong Kong this September. For those who question whether or not Douglas knows anything about investing in real life, and why he and not another I don’t know– THE GUY WHO HAS BLOOMBERG ON SPEED-DIAL– was invited, rest assured, MD knows what he’s talking about here. Read more »
“Don’t go expecting a movie that will give you some great intellectual or emotional insights into the Wall Street crisis. Sure, there are the obligatory “life on the trading floor” scenes and quasi-faithful recreations of arguments between Treasury and Wall Street at the oak-paneled New York Fed. And there are lots of cameos of CNBC anchors and Nouriel Roubini (as “Dr. Hashimi”) to give the movie “authenticity.” But the authenticity is as phony as Bernie Madoff’s investment returns. How many Fordham-educated prop traders with the last name “Moore” speak fluent Mandarin?” [WSJ via BI]
If Anyone Wants To Talk About What It Felt Like To Preside Over The Financial Crisis, Kevin Spacey’s Here For YaBy Bess Levin
To research his role in Wall Street 2: Money Never Sleeps, Shia LaBeouf spent a good deal of time at John Thomas Financial, an Encino branch of Charles Schwab and Goldman Sachs. It was there he learned how to stick $20,000 in an online brokerage account and turn it into $450,00-ish in a matter of months, wow the shit out of Lloyd Blankfein in the 47th round of interviews, and insider tips for passing Level I of the CFA. You know what he never did? Ask any of the guys he was shadowing about their feelings. Same goes for Penn Badgely, who spent some time on the Citi trading floor to prep for his role as a junior analyst in Margin Call (where he learned that “young traders sport ‘nice clothes that were not terribly tailored’ and that that the term ‘bucks’ means millions”). That’s because these two whippersnappers only care about the surface. They’re not interested in drilling down to the person underneath that suit and the fifties still stuck to your ass from the weekend. One guy who is? Kevin Spacey. He cares, deeply.
“I am trying to humanize bankers,” said Kevin Spacey, the Academy Award-winning actor, who plays a senior trader in Margin Call. “Everyone talks about facts, figures and debt. I was more interested in what they were feeling.”
“If Megan Fox were a Hollywood stock, should you buy, sell, or hold?” At least one thing to take into consideration is that she’s had Shia Labeouf’s tongue in her mouth. [NYM]