Boiler Room (2000)

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I've seen the film, but not in a long time. I'll have to go back and watch it having worked in that industry during some big scandals (then again who has worked in finance for client-driven companies like the one in Boiler Room and *not* seen some major scandals?).

If you liked that movie and want a good book recommendation that is SO much better than that movie

Traders, Guns and Money: Knowns and Unknowns in the Dazzling World of Derivatives

Bombardiers (by Po Bronson) - will always be one of my favorite novels ever, can't recommend it enough, but it may not speak to people as much if they haven't worked in the industry, hence the first book recommendation
 
mps1448 said:
I've seen the film, but not in a long time. I'll have to go back and watch it having worked in that industry during some big scandals (then again who has worked in finance for client-driven companies like the one in Boiler Room and *not* seen some major scandals?).

If you liked that movie and want a good book recommendation that is SO much better than that movie

Traders, Guns and Money: Knowns and Unknowns in the Dazzling World of Derivatives

Bombardiers (by Po Bronson) - will always be one of my favorite novels ever, can't recommend it enough, but it may not speak to people as much if they haven't worked in the industry, hence the first book recommendation
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I'll check those books out, or at least the first one. Thanks.
 
Here is another great speech about making money.
 
Omegaboy13 said:
I watched the wolf of Wall Street the other day for the first time. I seriously think there were some scenes they completely ripped off of boiler room.
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The more films you watch about the topic, or books you read (Liar's Poker, Bombardiers, etc) the more you'll see similarities, because finance is a great place for dishonest people to make a lot of money and maybe get away with it.

Very few people rake in hundreds of millions from the markets. The ones that do are like jedi warriors of the finance world that everyone else in the industry wonders about. Guys like Jim Simons. Being a former military code-breaker and the inventor of important geometric theories, you'd think his massively successful hedge funds are on the up-and-up, but guys on the up-and-up with his results are so few are far between they're legendary.
 
mps1448 said:
The more films you watch about the topic, or books you read (Liar's Poker, Bombardiers, etc) the more you'll see similarities, because finance is a great place for dishonest people to make a lot of money and maybe get away with it.
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This is kind of the impression I've gotten after reading up on the subject.
 
shadow_priest_x said:
This is kind of the impression I've gotten after reading up on the subject.
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In the book Traders, Guns & Money, Das talks about the Asian Financial Crisis, and how investment banks would offer complex derivatives to new but profitable companies in that region. They would structure the products initially so that the client corporation would always come out on top. Basically the investment bank would take the loss while they determined if the client even understood the products at all.

Eventually some of these executives would use corporate money on whatever the investment bank offered, and at times they were offered products where if the corporate execs had done the math and actually analyzed the derivative, they would have seen it was impossible to make money.

Once it was determined that the investment bank could push any product, they would design one that was certain to lose big for the client (and with little financial regulation in these countries, sometimes a different branch of the bank would actually be on the other side of the transaction, winning big on the client's loss).

I could go on and on, but yeah that book is a great read (and it explains how a lot of the derivatives work if you're interested, but skipping over those couple of detailed diagrams doesn't really take away from the overall book). Can't recommend it enough.
 
What a great movie. As someone who's worked in sales for years, I fucking love this movie.
 
What a coincidence. I just watched this movie on youtube, free with ads, last night.

Enjoyed it a lot. The plot reminded me a lot of the Wolf of Wall Street, so I'm not surprised to learn in this thread that the movie took inspiration from that story.
 
It’s a good movie.

I used to like it a lot more when I was younger.

I think years ago there was a thread here where I said I liked it better than Glengary Glen Ross back when I had only seen GGR once when I was too young to appreciate it and barely remembered.

It’s not even close now. This is no Glengary Glen Ross

Boiler Room is pretty low end compared to other Wall Street and salesman movies.

But still an entertaining movie and maybe a good intro to the genre for people who think the insider talk in movies like Wall Street and GGR are over their heads at first. Boiler Room makes sure that every term or situation is explained in detail.

It’s also less cold and aggravating than other movies where the little guy gets torn to shreds and the perps get slightly inconvenienced by a light white collar crime sentence at the end.

In Boiler Room, you can get the feel good story about the regular Joe who got taken for all his savings but gets it back at the very end. Which would’ve never happened.


Also I hated the melodramatic father and son storyline. Especially since the big source of trauma is Ribisi’s character having broken his arm when he was a kid and his dad not being properly sympathetic and all the “I want you to be proud of me” water works. I was unmoved by those scenes.
 
Damn, so many years since I've seen this but I always remember it well.

Will rewatch asap.
 
Good movie.

Kinda came off as more of a poor mans Wall Street or Glengarry, both of which are referenced.

Regardless, I thought it was a good movie which keeps people engaged and gives them a glimpse into "boiler rooms".
 
Financial movies in order of greatness

1. Glengarry Glen Ross
2. Margin Call
3. Wolf of Wall Street
4. Wall Street
5. The Big Short
6. Trading places
7. Wall Street sequel (money never sleeps)
8. 20 other movies that I can't recall right now
29. Boiler Room
 
Youtube has this movie for free very cool movie back vin diesel was actually an actor.
 
Fedorgasm said:
Financial movies in order of greatness

1. Glengarry Glen Ross
2. Margin Call
3. Wolf of Wall Street
4. Wall Street
5. The Big Short
6. Trading places
7. Wall Street sequel (money never sleeps)
8. 20 other movies that I can't recall right now
29. Boiler Room
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Margin Call is a really good movie

 
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