The Wolf of Wall Street was one of the years most highly anticipated films and has been nominated for 5 Oscars as well as 2 Golden Globes and 4 BAFTAs. It really is a great story but what many people are struggling to get their head around is the truth behind it. The film was adapted from Jordan Belfort’s tell-all (or as much as he wants to reveal) book.
Now while I can appreciate the entertainment value I can’t help but feel that the film portrays trading (albeit stocks rather than ForEx) to be a much easier profession than it is in reality. It would not have made the most interesting film to see Leonardo Dicaprio’s Belfort learning the industry as a complete novice but I feel it may have left some viewers with the wrong impression about trading.
It has to be said there is something compelling about Jordan Belfort – I’m not condoning his behavior (although it is rather hilarious) but the characteristics he possessed made him a phenomenal leader. He had this over whelming self-belief, which may have gone too far. Belfort had focus (again that may have been misplaced) and drive. He had made his money from nothing, which made him inspirational and believable and he had a way of motivating people around him and persuading them to see things from his point of view.
These are great qualities to have – of course in moderation. Films such as these glamorize the profession but it is important to keep in mind this is a Cinderella story if you will. Trading is not a get rich quick scheme despite how rapidly it seems to happen in the film. It is about investing the time into gaining knowledge about the market and making the most of the resources that are available to you.