when he closed the deal with harry
He didn't pass the series 7 yet, and he didn't have a trainer by him telling him what to do.
sharewhat I don't understand is that J.T Marlin seemed to go after those with deep pockets, the 'whales', those who had the money to be in the market. How did Harry end up on the cold calling list if 1) he did not own property (they lived in an apartment and were saving to buy a house) and 2)he seemed to have a middle-manager job at best which probably would not be enough to make their list.
shareI would argue that it was the blue chip stocks his friends gave him. When those went in to this name it probably marked him as an investor. And since we don't know how much those were worth.... if they were significant....
There was the matter of his nagging wife. I think it was more about losing her and his children than anything else. And the blue chips as another poster mentioned. It appears Seth did him a favor by getting rid of that shrew of a wife for him.
shareThe nagging wife?
Yeah, how dare she get upset when he blew the money they had scrimped and saved for the last decade on a stock purchase with a ghost on the phone?
Didn't she want to keep living in a 2 bedroom apartment with her two growing kids and the husband who didn't even have the balls to hang up on a telemarketer?
[purple] Two little mice fell in a bucket of cream...
Harry should have invested some stock in some Cap'n Crunch, instead. That is all he was good for, since he married such a bitch of a wife.
share
J.T Marlin seemed to go after those with deep pockets, the 'whales',
That's what they told the sales reps in order to make them feel a bit better about straight ripping these people off. The cold call list probably showed anyone with any income slightly over the US median. At one point he talks about rebuttals to the excuse that someone cant "come up with $2000." This wouldn't be a problem for anyone of moderate means, add to that that noone who was a legitimate whale would buy stock over the phone from a stranger, or invest in BS pinksheet stocks -- even in 1990. share
That's what they told the sales reps in order to make them feel a bit better about straight ripping these people off. The cold call list probably showed anyone with any income slightly over the US median. At one point he talks about rebuttals to the excuse that someone cant "come up with $2000." This wouldn't be a problem for anyone of moderate means, add to that that noone who was a legitimate whale would buy stock over the phone from a stranger, or invest in BS pinksheet stocks -- even in 1990. share
^^^^ valid point
Spoiler alert for them spoil sports out there! Y'all like spoiled milk, stop crying over it!
what I don't understand is why did Seth go to such lengths to hard-sell him on the 2nd call when Harry was Greg's client and, as he said himself in Tom Everett-Scott's office, he wouldn't have made any commission for it?
Maybe it was just habit being on the phone. Surely when the "3 dollar rip" announcement was made, though, it was in Seth's interest to hang up and quickly call as many of his own clients as he could.