I told you about the first time I got fired. Now let me tell you about the time I got fired after I quit my fucking job.
I had left a boiler room operation because, well, it was a fucking boiler room. They ripped people off and the brokers were dicks. I was unlicensed and never sold stock to anyone. I went to a small start up firm, got my series 7, then left after 6 months because my boss was a fucking pussy and I couldn’t learn anything from him. However, I did learn a great deal from a gentleman and “professional account opener” and prolific cocaine addict named “Ed Motta.” However, that’s another story.
Anyway, after I got licensed, I went to another start up firm. Back in the late 90’s, Wall Street was littered with boutique investment banks. I was hired and assigned to their biggest broker. Let’s call this prick Neil.
Neil was in his mid 40’s and was doing about $110k in gross commissions per month. Even back then, despite living on a cold callers salary of $200 per week, I looked down on such a number, mainly because the biggest broker at my previous firm was doing $300k per month. Then again, that was a boiler room and Neil was selling NKE.
By the time I met Neil, I was fairly adept at opening new accounts. On average, I’d get about 7 new accounts per month, with hardly any renegs. Other people did more, most did less. But my new accounts were usually big guys, due to my ability to hold a conversation with intelligent life-forms, unlike Neil. The first morning working for him, I was handed a sales script. This did not surprise me, since scripts were commonplace in any brokerage house. However, what did shock and appall me was his insistence that I follow it, verbatim, like some sort of idiot robot.
In Neil’s small brain, there was a canned response for any possible objective. If Mr. Jones said “not interested” or “go fuck a chuck wagon” Neil wanted me to reply with an exact set of words, strung together by dicks, without deviation–no matter how retarded it seemed. Basically, he was the FOXCONN of the brokerage industry. He had this shit down to a science. Any objection you could think of, this fucking sociopath had a canned response to defeat you, then cajole you into sending him money. Every morning and afternoon, he’d call me into his office to “skill mill” and he was never happy. I was always stubborn and refused to use his “straight-line” approach, which ironically was invented by the scumbags at Lehman. We’d get into heated arguments and it always ended the same way.
“Fly, who’s the fucking millionaire here and who is the piker cold caller?”
After three weeks, I called the owner of the firm from home and told him that I quit. In a fury, Neil called me back, trying to address my objections with his patented canned pitch. It was hilariously pathetic. I told him I wasn’t anyone’s doormat and I’d do just fine without him. The truth of the matter was, I had no money– other than some account set up by my Mother that I used to purchase American Online stock. I had just moved out into a basement apartment with my wife and newborn baby and relied upon the $200 per week check to buy food.
The owner of the firm called me back and said “fuck Neil, come work for me.”
I kind of liked that idea on several levels. One, I knew bouncing around from firm to firm would look horrible on my resume. And, secondly, I needed the money and wanted to get my shot at “going on my own” by managing my own book.
I agreed.
The next day I reported to the owner and Neil just glared at me, like “WTF is this piker with the bullshit money tie still doing here.” I didn’t care. I put my head down and went to work on a new iPO the firm was underwriting. That same day, Joe Montana (football legend) came to the office for the roadshow. He was on the board of directors of this company and I got him to sign my prospectus. It is likely worth something today, as only 50-75 of these fuckers exist.
Anyway, I did some calling and got about 30 “indications of interest” for the bullshit deal. It was 5pm and the junior brokers were all called into a meeting. In the middle of the meeting, the owner of the firm barged in like Jack Nicholson in the Shining and said “where is Fly?” About 20 other people looked at me, as I raised my hand, and he said “you’re fired. Come with me.”
This really shocked me, since I thought the owner was “cool.” The truth of the matter is, no one is cool. The owner convinced me to not quit, just so that he could humiliate and fire me. I was young, naive and I thought I was special. These guys were making millions of dollars and couldn’t care less about my plights, goals and aspirations. As a matter of fact, I wasn’t even mad for the affront. I viewed it as a game of chess and I got mated.
I picked my shit up, made a few phone calls and had a new place to work the next day.
http://www.youtube.com/watch?v=RS_ux2H473I&feature=fvwrel
If you enjoy the content at iBankCoin, please follow us on Twitter
Good story. Whether one is selling cars, books or stocks, the lingo is the same. And the bosses equally fucked up.
Good stuff
Awesome
Awesome.
I come for the financial advise but stay for the stories.
Sounds like that guy was a real Keith McCoolah.
hahah
What happened next? Im at my second shop as a jr.
Read the whole series of The Best thing that Ever Happened to me to find out.
http://ibankcoin.com/flyblog/2009/03/17/the-best-thing-that-ever-happened-to-me-part-1/
Great ending! Nice production, what were they paying .05-.06 back then?
try a buck on a 5 dollar stock
Where’s part 2?
Part 2 and 3 are there under Fly Story
Bravo!
Wow, I went back and read the first 3 parts of your story. Didn’t realize you’d had so many setbacks and it gives me a new appreciation for what you’ve accomplished. Willing oneself to success is about the highest form of achievement.
Life is what you make it.
Thanks for the story. I love reading your life stories.
Two questions:
During or between your tenures did you ever consider going it alone and setting up your own shop?
Did your ability to manage your family ever begin to conflict with your pursuit of success?
#1: I was a piker, with little capital. Starting my own firm was not possible. My little AOL investment turned 6k into 250k and I was grossing a mill+ by 2000. But things went bad fast for me in late 2000-2001.
My wife and I had numerous problems, as I worked from 7:30am to 11pm every night. I’d sometimes go to work at 4am to call Europe or middle east. I was young and hell bent on success.
When I say “hell bent” I really fucking mean it.
Loved it. Good lesson in life.
cool beans
My name is Ed Motta, Jr. You killed my father. Prepare to die.
I just timewarped your ass and killed your father before your were born.
Stop stealing my lines
great story
Neil sounds like Bill Lumbergh
http://www.youtube.com/watch?v=u8rnkB9sioo&feature=related
Neil actually sounded and looked like Alex Jones from Prison Planet.
Wow that’s horrible. Makes me dislike him even more.
“Ed Motta” sounds like some Latin opposite of et cetera.
He looked exactly like Ray Liotta.
Did he have the Ray Liotta laugh?
______
Constructing a time machine takes mucho hours and being “hell bent”
I hope one day my story is as interesting as yours.
The American dream. Alive and well.
Fly,
I like this story. Good on you! I was given scripts too and made changes which the firm adopted because they were missing it. Then I accepted a position with another firm since I too hate scripts.
A fantastic story indeed! Thanks for all that you do.
FLY you sure are a magnificent talented writer
FLY you sure are a magnificent talented writer
So good you said it twice. You said it twice.
Why di y
Great story Fly. I started in 1975 with Merrill and bounced around. My best story was when I was with PaineWebber in 1985 when Joe Grano came over from Merril and was making rounds to the branch offices. The branch had a big meeting and Joe was there to cut everyone’s payout. He started out his speech with….”I came to PainWebber….just then I interrupted him in front of the entire office and said, “FOR THE MONEY JOE”..
Man was he pissed.
lol
winning is good but I saw this on a wall in jbay:
In the end what matters most is
How well did you live
How well did you love
How well did you learn to let go
Fly this is amazing. More stories like these please.
It really ads to the legend of “The Fly”
Thanks for the great read.
Inspirational, Fly. Thanks.
may be time to expand the ibc empire. chess’s amish ibc fn post is on fire. wtf? i thought they shit in holes in the dark. apparently they got alot of admirers.
Coke~ !
It does a body gewd.
http://www.youtube.com/watch?v=hoZksnUmmEE&feature=related
The Spits. Get Our Kicks.
Get ready for the Turkey gods… they came tonight to slay the Eagles, and they will stay through the Gilded Age (Thanksgiving and Christmas!)….
_________________
yeah i have a question-
say you were a “piker” RIGHT NOW, basically what if you were ten years younger, but had the same interest in the markets… do you think it would have been possible to go from, ramen noodle flavored cheerios to prime cut steaks shaped like rick ross’ face with a custom caviar beard? obviously the net bubble was the greatest gift to traders ever, but a lot of ppl fucked up and lost money then too. Where do u think u would be without the net bubble….? maybe thats a retarded question, but im just curious
My best years have been post 2007.
“strung together by dicks”(fly)
well then..your wife is the one to pay homage..:))
You are lucky to have such a wise woman
bears +8 (really)… nice
I keep reading about “when the chickens come home too roost”, again and again and again.
Maybe this Europe thing (a/k/a) Societe Generale, is gonna be like a non-lubricated experience.
Take it way up, first.
He sucked up to you and then fired you? Are you serious? What a fucking arsehole.
Another intriguing Fly story and from what I read in this thread many people can relate.
When I started out as an attorney I was always grateful to have had worked for great people -except one.
I was a down the ladder attorney who accidentally discovered the senior partner of the place was committing trust account violations and I told the No. 2 partner what I found and we went to the Bar and reported him. I was out of a job and had a wife who was 8 months pregnant and just took out our first mortgage (13.5% back then).
I opened an office on my own (no clients-sharing facilities) and met a shaker and mover attorney from Miami who fed me work for which I am eternally grateful. And I have helped a newbie or two since then.
Wow. That’s an emotional story in three paragraphs. Not everyone has had to confront a situation where the right thing to do is obvious but so very dangerous.
I’m glad it worked out for you.
wow.
Awesome Fly history. Thank you for sharing
man – that hurt to read. great stuff as always. really glad you didn’t shoot him the next day.
Fly, Great story as usual. Glad to see you made it through to the other side.
Mr. Fly, I sell cars and I have the perfect one for you. http://www.ultimasports.co.uk
Great story…reminds me of a sime time rapper named Marshall Mathers!!…Gotta get knocked down a few times before you can rise above!
random question..but were any of you guys every part of a chat room back in 98 or 99 that was led by a couple guys named OLDarmy or Heavytrader? ..im just intersted to see if anyone from back then is still around..since thats where it all began for me back in college..
Shaun, STFU!
I like the real life story Fly don’t let no one bring you down. That’s some good stuff always stay positive and take charge of your own no matter how bad shit gets some times. You the man Fly you can say look at me now bitches.
FLY you need to tell the story of how you met John B. and his fat girl “H.J’s.”
Can’t. John reads the site.
I’m thinking Neil went to the boss and demanded, “fired that fucker, or I quit.” Neil was a productive guy, so the boss fired away. The top sales guys rule.
awesome, this stuff is hilarious and good for perspective for us younger guys. thanks
I remember it like it was yesterday. cold calling from 8:30 – 8:00, D&B cards in hand,$.10 net –
“Mr. Jones?, my name is Nyjag w/ dooey, cheetum & howe. I represent an innvestment banking firm in the wall street area specializing in bringing small to medium sized companies to market……”
I feel slimy just thinkin’ about it. Think I’ll take a shower.
I hated DnB cards. The worst.
THE FLY IS GOD DAMMIT.
fucking love the bit about how fly thought his boss was “cool” — i can relate.
my consolation is that the cunt now runs a high end rehab center because he’s “passionate” about it.
HAHAHHAHAHAHA
Let it not be debated, Fly is a great man.
Great story!
Good bosses are tough to find, so you have to work for yourself. A friend of mine would always say, “worst case, they make me go somewhere else – for more money.”
At my first job interview after school the guy wanted me to take some stupid test. Ok, no problem. How much time will I have? As much time as you want.
10 mins later he comes back and says times up.
Even back then as a stupid kid, I knew this was an idiot I didn’t want to work for.
Great read thanks