iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,417 Blog Posts

The Important Matter of Wasted Talent

I just got my series 7 license, working at some boutique firm filled with nefarious figures. It wasn’t a bucket shop because they were pitching real stocks and didn’t underwrite scams. Nevertheless, between the cigarette filled boardrooms and shifty criminals (a story for a later date) roaming around the office, it wasn’t exactly the place where I wanted to stay long term, if you know what I mean.

Starting out, my job was to get new accounts through cold calling. More often than not, people hung up on me; but it never bothered me because human behavior always fascinated me. If you say certain words to people, in a specific cadence, you can literally control them. I experienced this salesman mastery on several occasions, when the words flowed off my tongue perfectly, allowing me to address all concerns with ease and confidence. But it was impossible for me to maintain, consistently, due to the variables of the personalities I had to deal with.

“First one to talk loses”: that’s what I was taught when closing someone. Ask for the order and shut the fuck up. There were times when I’d be on the phone with a prospective client for minutes in total silence (it felt like hours), a game of discipline and will. I shit you not, if he uttered a word before me, 9 out of 10 times he was buying. But cold calling is a hard business. Most men can’t hack it and quit inside of 3 months, after running into walls–fact.

In comes “Ed Motta.”

The seat adjacent to me was idled, apparently reserved for a “professional” account opener. As always, I was skeptical, especially after learning he was getting paid 3x my $200 per week salary–a great sum of money for a piker like me back then.

On a Wednesday morning, around 11:30 am Mr. Motta staggers into work and introduces himself to me “Ed Motta, nice to meet you.” He was in his early 30’s and had an unusually large jug-head, short legs and stocky build. He was a Ray Liotta look alike–to the tee. His arrangement with his senior broker was straightforward: $600 per week salary and an additional $100 per new account opened. He didn’t manage a book or ever speak to a client after opening him. His job was to get clients and move on–like a locust.

He picked up the phone and started to “dial for dollars” as he liked to call it. He made a contact and started to pitch some rich guy out of 0hio some bullshit biotech stock. Ed’s voice was built for radio: it was stentorian, with perfect enunciation and he had an extensive vocabulary to boot. To my amazement, on his first contact he opened a new account. Flabbergasted by his showmanship, I put down the phone and watched him for a next three hours. No one ever hung up on him, literally. He could keep anyone on the phone, for hours if he wanted them to. To test this, I gave him leads of people who “slammed” me on contact and he was able to hypnotize them with his voice and make them buy something. He had the ability to open accounts, almost (some people will never buy), at will. He was a great talent, the best I’ve ever seen.

After his first week at work, Ed invited me out one night “for some drinks.” We hopped in a cab and he told the driver to take him somewhere. At the moment, I was drifting off into outerspace, wondering how this singular man was able to control people like elephants under a stiff whip, so I didn’t hear the address. When we arrived at his “spot,” I was taken aback, finding myself in the middle of Washington Heights (shitty area, like you wouldn’t believe), outside some seedy building. He told me, “Fly, I’ll be right back, just stay here.”

Okay.

After 10 minutes, Ed came running down and said, “okay, let’s go have some drinks.” We hopped in a cab and headed to midtown NYC. After getting out of the cab, some homeless fucker approached us for money. Instead of giving this bum money, to my astonishment, Ed gave him his fucking business card and told the homeless guy “call me Monday, I’ll give you a job.” I queried “are you out of your fucking mind?” That guy’s a crackhead.” His reply was “nah, he has a good voice. I’ll throw him on the phone and he will be a killer.”

Okay.

So we’re at the bar and I have no idea what to do there, as it was my first time in a real NYC bar. I was barely the legal age to drink, by the way. Ed was chatting it up with just about everyone he encountered, jovially having a blast. He told me, “hey, I’ll be right back bud, I need to go do something.”

Forty five minutes later and Ed is nowhere to be found. It was getting late and my wife and baby were at home waiting for me. Actually, my wife thought I was working late and had no idea I was out having drinks (thank God she never reads my blog). I paid the tab and left, thinking “crazy Ed” met a girl and left somewhere with her. No big deal.

As I turned the corner, an ambulance stopped in front of me. I turn to my right and it’s Ed Motta sprawled out on the fucking street, knocked out from an overdose of cocaine. From what I understand, he survived the ordeal; but I never saw him again. Rumor had it that he went to another firm to continue his illustrious career as a “professional account opener.” He could have made millions if he used his unbelievable talents of persuasion to build his own business. Instead, because of character flaws and drugs, he’s probably dead or working as a janitor at some shopping mall right now.

If you enjoy the content at iBankCoin, please follow us on Twitter

96 comments

  1. The Zombie

    The Fly is God.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. MOOBER

    http://www.youtube.com/watch?v=XUv9Lsx5llU

    Found him

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. Mad Willie Thompson
    Mad Willie Thompson

    Great post, as always, Fly.

    Awful to witness that kind of waste. The smartest, most capable guy I ever knew in my life (including B-school characters, etc.) ended up working in a chicken processing plant in my hometown for much the same reason as Ed above.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. whitney baftub

    i know a few cats like that. some of them snorted an 85 year old business right into the ground. they all had talent.too bad some wound up dead with a needle in their arm…..

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Jakegint

      I have seen THAT (what you just described) more times than I care to comment on.

      WTF is it with the sons/daughters of rich people and drugs?

      I guess I better knock on wood, but sheeesh. It’s like a third of the wealthy people I know have kids in rehab. And this is fucking Flyover Country!

      _________

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  5. A Dude

    That was a beautiful post, Fly. Excellent work. I’ve known quite a few Ed Mottas, and I too have found myself being an Ed Motta now and again, and again maybe. Thanks, Senor.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. jg

    fly, did you ever consider another profession?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. Yogi & Boo Boo

    Five stars as always.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. drummerboy

    the movie,”man with the golden arm” comes to mind with sinatra, in describing ed motta.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • The_Real_Hmmm

      I thought more “Golden Voice” Ted Williams, minus the whole Ray Liotta bit.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • drummerboy

        but like in flys’ story,there was a bit of criminality that lingered in the back round, like cigar smoke. lol

        • 0
        • 0
        • 0 Deem this to be "Fake News"
        • The_Real_Hmmm

          That Golden Voice guy got a golden ticket and continued to do drugs and drink. It’s exactly the same.

          • 0
          • 0
          • 0 Deem this to be "Fake News"
          • drummerboy

            that golden voice one, reminds me of another sinatra film, back when he was trying out his pipes,and hooked up with tommy dorseys’ band. and buddy rich fucked up his audition,which is a true story btw.

            • 0
            • 0
            • 0 Deem this to be "Fake News"
  9. Sierra Water

    That is some good stuff Fly, thanks! Off to the Sierras for ski week with the kids, even though there is no damn snow. Have a nice trip to Florida.. makes more sense.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. locobbb

    i only managed to read this post after a bottle of 98 rieussec. i prefer posts less than 10 lines. i have a.d.d.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • drummerboy

      say that to an o.z. of unstomped blow,waaaay more then ten lines. took me 9 days without sleep to finish it

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  11. Rob T

    Valuable insights, Fly. I commend you, good sir. We can all learn some things about the ills of substance abuse and the vicious cycle it forms when in contact with a potent personality.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  12. CASHN1N9

    Damn, feel sorry for him with that kind of talent… but hey, life is what u make of it…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • madone

      I totally agree! Life is what you make out of it….Ed is the father of my child.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  13. Granpa

    Hat tip Senor Fly, best of story telling indued. The book of short stories will be an instant Classic.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. Jakegint

    There are 8 millions stories in the big city…

    And Fly’s got 7.99 million of ’em!

    _______

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. Jakegint

    BTW — I am offended for the deceased Burghess Meredith (Amherst ’42) who you slander by featuring as the accompanying cover art for this weurthy (sic) story.

    _________

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. flyaway18

    Wow, you’re something else Fly.
    A week ago when Whitney Houston died you said: “I will not bore you with false sympathy for crackheads who end up drowning themselves inside hotel bathtubs.”
    Yet Ed the Crackhead, apparently a real talent in your profession, is worthy of an entire column that elicits a bit of sympathy for the guy, wasted talent. Bummer. So, what’s the difference between Ed and Whitney? They are both talented individuals who let natural gifts slip away to drug addiction.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Jakegint

      Whitney died in the Beverly Hilton.

      That’s some A-Game Crack-headedness!

      _______

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • hillary climtoon

        that’s a shame…chateau marmont has been kicked off number one celebrityfounddeadinhotelhipness status..I still think Belushi’s was the best! ra!

        • 0
        • 0
        • 0 Deem this to be "Fake News"
    • The Fly

      I knew Ed and didn’t know Whitney.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • BFFLMBF

      Agreed, excellent insight Flyaway

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • hillary climtoon

      oh boofuckinghoo…the saddest thing about passing out as a washed up druggie ex-singer in a bathtub in the b-teamers only Beverly Hilton is that it’s so cliche…if I were writing the scene I’d have her jump out the window of the Mondrian or at least drown in the ocean off the Santa Monica Pier. Sheesh..no imagination!

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  17. razorsedge

    fly should write novels, about cocain, crack heads, and crack spreads. kinda like wall street.(money never sleeps)woo, just thought about this: is cheese wiz a crack spread? maybe fly could write cook books. (just acting out whitneys last days)

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  18. KCScott

    In the early 90s when I first started making decent money in sales, I inhaled 20K over the course of a couple years. It wasn’t just the blow, it was the entire scene; the women, the bars, the non stop “Sell like All Stars, Party Like Rock Stars and Fuck Like Porn Stars” illusion you build up in your head.

    A combination of factors got me out of that life – knocking up one of those girls, having a freind commit suicide and a little voice in my head telling me if I didn’t get out I was going to lose everything I’d worked for up to that point.

    It’s funny beacuse just typing this brings back hilarious moments and that craving… and then that same little voice reminds me why I left it

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  19. ezthere

    Jake Lamotta has a big head.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  20. ezthere

    My father had that job once, selling people garbage. Your right, he moved to another part of the company.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  21. discoordinated

    What do you mean “First one to talk losses”? do you mean other than salutations?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  22. hillary climtoon

    oh my..look at Kudlow tonight…he must have been hanging out with Joe Kernan too long..he’s starting to look just like him….. but if you already look like the biggest asshole on the planet, why would you want to look like any even bigger one?
    He sounds just like him too…wait that IS Joe Kernan..auditioning for his next gig..Fox!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  23. hillary climtoon

    too bad you didn’t grab the rolex off his wrist before he went horizontal..next time follow him into the bathroom.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  24. Frog

    Fascninating story, Fly.

    I think this is most likely to happen to people who have access to easy money– whether through inheritance or a “golden voice” or whatever. People who have money but do not have access to good role models about how to live life.

    Sometimes the kids are more influenced by their peers though, than by their parents, especially if the parents are distant folks.

    Many people think the meaning of life is to have/acquire/spend money. Without good role models like Fly’s Grandad, many people just spend their money on getting high. They never become aware of the other meanings of life besides money.

    Having/making/spending money is important. It is something. But it is not everything. Surprising how many people do not learn these simple facts of life.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  25. WuzNotWoz

    Great story. I would have quit after the first sentence in the last paragraph. Let the reader’s imagination do the rest. But still, great story.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  26. hillary climtoon

    I think you should get together with another blogwriter James Altucher and swap war stories about virgin boys from the burroughs coming into the big city for the first time yada yada yada ..Alt-ucher had bad acne and an affinity for the Chelsea Hotel..perhaps he hoped some of its je ne sais quois might have rubbed off on him..sadly it appears it did not..oh well, we can’t all be Dylan (that would be the poet not the singer).

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  27. Cold Calling

    Funny (not the story – it’s sad) but just the other day I wrote a blog post about how cold calling is an addiction, not unlike a drug addiction, and here you have someone who was hooked on both.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  28. Half Blood Pope

    FUCK YOU THAT’S MY NAME?
    http://www.youtube.com/watch?v=y-AXTx4PcKI

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  29. Hack

    Then everything turned out alright for him. A janitor at a shopping mall is definitely a step up from a trader.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  30. riggedgame

    I have never understood why people begin to take drugs, and this has NEVER been explained in the hundreds of articles I have read on the subject.

    There must be some secret I don’t understand.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Half Blood Pope

      You must be reading the wrong articles.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • Frog

      Riggedgame– There are numerous reasons– e.g. peer pressure, numbing/escape from physcial or psychological problems, physiological predisposition toward addiction, lack of role models of how to live a constructive life.

      I expect you have read all these reasons but decided not to believe them– perhaps becaues there is nothing like this that pulls you strongly toward addiction personally. If so, be aware of how fortunate you are, and be grateful.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • riggedgame

        Yes, I have read those things but with what people know about drugs, it seems bizarre that
        anybody would succumb to taking them.

        Peer pressure MAYBE- if one is an adolescent in the ghetto. But too many adults
        who are in good positions, like athletes and entertainers and business people also succumb for some reason, and they damn well should know better.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
        • Ultramarine1

          rigged, some people have addictive personalities or tendencies, worse if they are compulsive. Perhaps they are weak not to say “no”, but they have a tough time resisting without help.

          Successful people who get addicted believe they are in control. But it’s a delusion, as they don’t comprehend that it’s their compulsions in control.

          • 0
          • 0
          • 0 Deem this to be "Fake News"
  31. Blind Read Ant

    Flash to the 21st century, that would’ve been Facebooked and “booked.” Not by moi, of course, but in this 1984 culture, for sure… .

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  32. jg

    the soundtrack kills me.

    http://www.youtube.com/watch?v=RLrQeJBRZAQ&feature=player_embedded#!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  33. alf44

    …uhhh …

    —–

    “Confusion will be my epitaph…

    … as I crawl a cracked and broken path …

    … if we make it we can all sit back
    and laugh !

    But I fear tomorrow I’ll be crying !!!
    Yes I fear tomorrow I’ll be crying !!!

    ~ King Crimsom ~

    .

    Just sayin’ !!!

    .

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • alf44

      … btw … stil shorter than …

      Danny DeVito … as it were !!!

      UGHHHHH !!!

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • john colter

      King Crimson whoa! great memories. great album covers….. “21st century schizoid man”. enjoyed with or without a buzz.

      fortunately, was able to maintain “recreational” status. you gotta be un-high in order to enjoy the high.

      worked in mental health profession for years. addiction is a disease as surely as heart disease or diabetes. the degree of genetic/biological (pre)dispositions are mediated by external factors. wrong combination and you’re fucked ala ms. houston and mr.motta.

      thanks for sharing fly.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  34. alf44

    OH !!!

    And another thing …

    Apparently … EVERY`FUCKINGTHING`I`HAVE`EVER`LOOKED`AT`ONTHEINTERWEB`FOLLOWS-ME-HERE !!!

    I Look at … say … “Endless Pools” …

    I am THERFORE … STALKED … with “Endless Pool” ads … wherever, I go !!!

    Apparently, “iBankCoin” … is just another “internet cookie monster” !!!

    SIGH !!!

    .

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  35. FIG

    Wonder if Ed Motta is related to Thad Motta? I figure he called Thad in Columbus, Ohio, to make Fly believe he was hot shit.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  36. Jg

    @alf44 blame that perverted fucker jim zarley and his band of idiots at valueclick for that shit.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  37. J

    Great story, Fly. Pity the homeless dude wouldn’t be able to contact him a the new firm.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  38. Ed Motta

    I am alive and well and living in Tempe AZ. Good day sir.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Mad_Scientist

      Is this real?

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • madone

        No that is the wrong Edward Motta. the one in the story is now in jail in CA for attempting murder on his ex girfriend ad he beat the shit out of her….

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  39. ruggyup

    Important to give credit where credit is due. While disturbing to admit it, alf44 hits the target dead center with a shot that has indisputable application here: “Fuckin’ Pathetic !!!”

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  40. Noman Khan

    Fly –

    Thanks for sharing! a great perspective

    – NK

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  41. Yabollox

    The cold calling I did as a young real estate agent has served me well. I will now call anyone, anytime, about anything– no hesitation. It gets shit done.

    Whitney Houston did not die from a bolt of lightning. She had the disease of substance abuse. It makes no sense to those unaffected.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  42. JohnRotten

    Congrats on your Series 7, Fly!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  43. best gloves

    Perhaps that is why it is not surprising that so many famous personalities have sworn allegiance to Tag and some of these names include Leonardo DiCaprio,

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  44. slevine1966

    I know Ed Motta. He is now in prison for 95 to life. He was on his third strike. He beat up his girlfriend and was in jail. He was out on parole and left Florida. He came to San Diego and was doing what he does best. He almost killed his new girlfriend. After 3 long years dealing with this monster in court Justice was finally served. On April 13th the judge sentenced him 95 to life. Never eligible for parole. That’s what this monster deserves. He will never be able to hurt another woman again.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • madone

      I know Ed and I totally agree!!! He got what hr deserve!! Let him die in jail!!!!!!! He has ni talent…a man that hit a women deserve to die

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • Lisa

        You are an ignorant person. No one deserves to die in jail. Edward most certainly had talent when it came to stocks. He was well known. A pro at it. There wouldn’t even be this article if he wasn’t worth writing about so get a grip on reality and until you walk in his shoes, don’t comment on his life!!

        • 0
        • 0
        • 0 Deem this to be "Fake News"
    • Lisa

      Doesn’t say much for the girlfriend that was told to break up with him. That he had violent tendancies, but she chose to continue to stay with him and endure the relationship.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • Lisa

      Sonia you are a lying whore.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  45. Ashley

    Ed most definitely got what he deserved no one ever has the right to hurt a women under any circumstances. Lisa you are the ignorant one for defending a monster of a man like that. If someone has violent tendencies and acts on them they get what they deserve.

    • 0
    • 0
    • 0 Deem this to be "Fake News"