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Aug 29, 2008 1:57 pm
fifthstreetz:

I just 2nd traded a client of mine and made 500 in commis.  How many of you can say that 1 month in?  I got my first client in at 8.20, now this stock is at 10.38.

  Sounds like your sh** smells like a dozen roses. 
Aug 29, 2008 2:26 pm

Our office is in Manhattan, if u guys don’t believe me then that’s fine, I could care less, I’m just trying to let fellow newbies know that it’s possible to make it with hard work and the right training, especially if the firm you work at isn’t trying to screw you over.



O btw, got my 7th guy on 100 NM a few min ago. These guys are out there, u just gotta keep dailing and have a sharp pitch.

Aug 29, 2008 5:43 pm
fifthstreetz:

[quote=newrepd]So do you have a set time to open up your 20 accounts?[/quote]

In 6 months, but the thing is, all these accounts are mine.  For once a firm is not trying to screw over the new guys but actually trying to help.  Because fucking over a newbie is not going to help the firm as a whole.  I just 2nd traded a client of mine and made 500 in commis.  How many of you can say that 1 month in?

And for those that are wondering, im pitching Navios Maritime.  Its a great company, just reported great 2nd quarter earnings, I got my first client in at 8.20, now this stock is at 10.38.  There are also a few other companies that are on our buy list but im not going to disclose that, but IMO Navios is a great buy.

And no, we are not a boiler room…

  It sounds a lot like that show Wall Street Warriors.  I caught an episode the other night where these stockbrokers that think they are hot shit are pitching one stock.  Their company's book is almost entirely made up of SanDisk.   So this guy lands an account of an investor who puts in like $125k into SNDK at like $43/share.  A couple months later, during filming of the show, SNDK is trading down at $35/share.  So in this episode, these stockbrokers call the guy up and get him to invest $900k MORE into SNDK saying it's still a great company.    I had my laptop next to me so I look up SNDK.  It was at $14/share!!!   They lost this guy a ton of money within a 6 month period or so.  The funny (or sad) part about it was that the guy was restricted from selling a lot of the stock for 90 days.  So he definitely ate shit on that.   We did make some good money on NM earlier this year.  The exporters have done well.  But it can go just as fast or faster than it comes.   5th Street sells on people's greed.  Definitely a stockbroker, not an advisor.
Aug 29, 2008 6:57 pm

FifthStreetz

I am not bashing you at all. I wish you the best of luck. I am sure you may here a few jokes here and there, but hey there is not one Wirehouse out there that has not had a scandel or a "advisor" walk out in handcuffs. Its funny becasue people were just talking about some Ed Hood guy or whatever his name is. I mistaked his U4 for Jordan Belforts it was so f*** up and he was at jones. Bast*** deserved what he got if you ask me. America is a greedy country, a stock brokers are not the only biz that take advantage of that. So are you on broad st or wall st?
Sep 1, 2008 8:55 pm

This is an awesome thread. Keep it going.

I am looking to get in this industry. I met up with one firm and they stated I had to open 50 accounts up for the firm before I start on my own (they said it’d take 8-12 months). I don’t like that. Are all the firms like that?

Sep 1, 2008 9:11 pm

What firm is that?

Nah you can find a much better deal then that. I have seen 15 with last one given to you 30 and you do a 50/50 split and 20 you do a 10/10 joint rep  
Sep 2, 2008 10:48 am

Wow you have 167 accounts in 1 year. Very nice

You have seen boiler room right? I think that is another difference between  broker and advisor training between the smaller and largr firms
Sep 3, 2008 10:22 pm

HAHA touchy touchy, did someone touch your girl or boy, whatever you prefer in the wrong place today...haha

calm down kid, its not that serious...
Sep 5, 2008 10:50 am

oh ok, my fault then…haha

have a good day man and best of luck with the account opening
Sep 8, 2008 11:48 pm

update



had 1 sellout, guys extention expired. so I’m 6 out of 80 something in the last month.