Talk:Stratton Oakmont

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Stratton Oakmont founding - consistency issue[edit]

The Danny Porush page claims that: Stratton Oakmont was a Long Island, New York, "over-the-counter" brokerage house founded by Jordan Belfort and Danny Porush.(link)

The Stratton Oakmont page on the other hand... Stratton Oakmont was a Long Island, New York, "over-the-counter" brokerage house founded by Jordan Belfort and Kenny Greene, and later bought by Danny Porush.(link)

Clearly there is an inconsistency here on who actually founded the firm...

Some quick googling shows that NY state requires a 'Certificate Of Incorporation'; but does not seem to post them online, so interested parties could presumably solve this with a physical source reference or something. [(link)] Being as I am out of state and not interested enough, will pass on doing it, but placing this on both talk pages as a general FYI of the issue to interested parties. 74.140.37.168 (talk) 04:30, 20 January 2014 (UTC)[reply]

Meh... this may not be a wikipedia "inconsistency" as much as a consequence of the fraud. Part of Belfort and Porush's fraud was misrepresenting the true ownership of various companies, including Stratton Oakmont.

Trying to answer the question of "who founded corporation x," when the certificate of incorporation may say one thing, someone later was convicted on an indictment alleging that the real ownership was different, and someone who testified in the case then wrote a memoir saying a third thing -- its an exercise in metaphysics.

I suggest that both pages, instead of making claims about who actually founded it, instead note the different statements in conflicting sources.

Djcheburashka (talk) 05:02, 28 October 2014 (UTC)[reply]

Good idea here - Someone already modified the Porush page but I went ahead and took care of the Stratton Oakmont page. If there is consensus that both should match, let me know and I can edit the Porush page as well.Aleding (talk) 17:06, 28 October 2014 (UTC)[reply]

Thank you -- and I appreciate your change. While editing the Belfort page, I also came across this: http://www.slate.com/blogs/browbeat/2013/12/31/wolf_of_wall_street_true_story_jordan_belfort_and_other_real_people_in_dicaprio.html which tells yet a third story of the origin of Stratton Oakmont. I'm adding it in.

Every time I google one of the claims on the SO or Belfort pages about non-criminal history of activity, it turns out to be false. I have a working hypothesis that every single thing that Belfort has ever said -- other than that he committed fraud -- is a lie.

Djcheburashka (talk) 03:12, 1 November 2014 (UTC)[reply]

"Largest OTC broker"?[edit]

What does that even mean? Most shares traded per day? Most IPOs? Most employees? I do not get it.

The period when SO is supposed to have been the "largest OTC broker" begins within a year of when Belfort took control. He left (if this part is true -- maybe its another lie) Rothschild after Black Monday which was October, 1987. 1987 is when the SEC says SO was already going, and the NASD launched its first attempt to shut SO down by 1989.

SO had no legitimate operation. I've seen this "largest OTC" thing lots of places -- does anyone know what its supposed to refer to?

Djcheburashka (talk) 05:48, 1 November 2014 (UTC)[reply]

Typically largest broker would refer to assets under management, but I’m not sure if AUM is what is being referenced. I’ll do some digging and update the article to clarify “largest by assets under management” if I find anything. Jgalt87 (talk) 13:26, 26 March 2019 (UTC)[reply]