I was furloughed from my job due to COVID-19 at the end of March, and like many other recent novice traders, I decided to learn about the stock market while I was stuck at home in quarantine. I have watched many videos and DVDs over the past four months, but there is one DVD that is superior to the rest. Tim Grittani’s Trading Tickers was a huge help to me in my trading education, and it was interesting to watch as well.

The DVD begins with an introduction narrating Tim’s trading journey. He then dives right into the beginner basics. This was very helpful for me as a novice trader. He explains what the basic terms are, he has an easily understandable explanation of short selling, he goes over emotions while trading, how to build a small account, rules and regulations, scanners, etc. I found myself nodding in agreement as he explained the struggles he went through emotionally when he was learning how to trade. Tim tells his story in a relatable way. He made me feel like I could really become a successful trader in the future, even though I had been having a tough time at the beginning. He had been there, and he had gone through everything that I was experiencing right now.

The next part of the DVD focuses on the basics of his strategy. He goes over technical analysis, volatility, risk management, level 2 basics including examples, and he talks about the similarities and differences between trading OTC and listed stocks. This was very informative, and I especially enjoyed the section on Level 2 analysis.

Part four covers chat rooms and services, ways to find stocks, free and premium scanners that Tim uses, how he turns those scans into a watch list, how he adjusts his scans intraday, and how he tracks setups with spreadsheets. When Tim is introducing services and scanners in this part, I like that he reveals some of the useful services/scanners that are free to use. He is understanding that when the novice trader is starting out, frugality is important. He explains how he sets everything up and goes into a lot of detail about forming his watch lists. He also talks extensively about back testing and using spreadsheets to track his tests.

The next eight parts of the DVD cover the following trading strategies: Buying New Stock Promotions, Buying OTC Multiday Breakouts, OTC Short Setups, Buying Major Daily Breakouts, Shorting Lower Highs into Spikes, Shorting into Daily Resistance, Shorting Overextended Gap Downs, and Shorting into Bounces. These parts of the DVD are GOLD. He explains everything at the beginning of each part, but the really helpful thing he does here is that he includes recorded trade examples of each strategy. The screen shows his Level 2, a daily chart, an intraday chart, and his order window from his broker. He runs a commentary in the background while walking the viewer through the trade example he is teaching. I was very impressed with these recordings, and they helped me tremendously!

The last few parts of the DVD are recorded live trading webinars that Tim did for the first run of people receiving his DVD upon release. I found the Q&A helpful, but the live trading not so much. He was watching several tickers at a time-too many to fit on his screen for the webinar. He also had his level 2 and his order window off screen. I really missed having all of that info available to look at, so it was hard for me to follow his trades. There were some great nuggets of information throughout the webinars though, so I would still recommend watching them.

All in all, I would definitely rate this DVD a “Buy” for traders. It is a gold mine of information for the novice trader, and I imagine it would be a great DVD for more advanced traders too. I could totally see myself re-watching this DVD to reinforce certain strategies I might have struggles with in the future. I see it as a solid investment and a great addition to my education account.

So you want to become the next Wolf of Wall Street? Well, you’ve come to the right place! Before you can start trading penny stocks, you need to learn the basics before reaping the rewards. Penny stocks have a bad reputation and are regarded by some as the gutter of Wall Street! Talk to any financial adviser about them and they’ll laugh. New traders starting off get attracted to these stocks because of the massive potential gains! It’s possible to make over 50-100% in a single day due to their volatility. On the other hand, blue chip stocks such as Google and Apple move up or down by less than 1% every trading day. 95% of penny shares are scams but once you understand how they work, develop a strategy to take advantage of the manipulation.

What are Penny Stocks?

Penny stocks are classified by the SEC as any stock below $5 per share and have a market cap between $50-$300 million. You will find that most trade over-the-counter on the OTC Bulletin Board (OTCBB). 95% of these pink sheet stocks aren’t real businesses. These companies trade for pennies and only exist so shareholders can dump worthless shares on suckers. New investors hope to strike it rich by buying millions of shares in these tiny companies, trading for 1/10 of a cent. 99.9% of the time this stupid strategy fails. I strongly advise you to stay away from the OTC market due to the lack of regulation. OTC stocks struggle to survive, they don’t need to report financial earnings and generate little or no volume. It’s safer to only trade companies that meet requirements to get listed on the Nasdaq and NYSE.

Getting Started with Penny Stocks

You’ll be surprised how easy it is to get started with penny stocks. To reduce your chances of failure, start off by paper trading first. 90% of new traders are too eager and blow up their accounts within a few months. Learning to trade is like any skill, it takes time to learn. Rather than risking real money straight away, paper trading allows you to become more comfortable with the basics of the stock market. This is a vital component that will be the foundation to your success. You will gradually develop your own style and test out strategies in a safe environment. Are you a long-term investor or maybe you prefer day trading/swing trading? Paper trading should last at least three months, then the real fun can begin! FYI, Marketwatch.com is the best place to open a virtual account and compete in competitions.

Setting Up a Brokerage Account

In recent times the barriers to stock trading have fallen dramatically. Almost anyone can sign up for a broker and start buying stocks within days. The only problem, finding suitable penny stock brokers is a challenging task. There are countless factors involved in selecting a good broker that won’t overcharge on commissions and offer fast executions but speed is important when entering and exiting trades. The ideal broker for penny stock traders also charge a flat commission rate, no volume restrictions, low account minimums and quality customer service.

Some brokers have no minimums deposits to attract new customers while others charge no fees. Robinhood and TradeZero charge no fee, the only problem is both of them offer terrible executions. Both brokers make money by routing their order flow through various market makers which put customers at a disadvantage. Remember there is no such thing as a free lunch on Wall Street. In my opinion, Etrade and Charles Schwab are the best options as they have low account minimums, cheap commissions and solid executions.

Another thing new traders don’t know about is the Pattern Day Trader rule enforced by the SEC. The PDT rule sucks for those with small account sizes. For accounts under $25,000, you are only able to make 4 day trades within the same 5 business day time-frame. To avoid the PDT rule most traders end up using an offshore broker which is risky and there are also tax implications to consider when using an offshore account. There are ways to get around the regulation but it’s better to save up enough money to use the best brokers.

Pump and Dumps

Not surprisingly, a lot of beginners get introduced into penny stocks from pump and dump schemes. Stock promoters purposely target novice traders who are more likely to buy shares in a crappy penny stock. This can be seen in movies like the Wolf of Wall Street and Boiler Room. Jordan Belfort made millions through pump and dump scams. His firm, Stratton Oakmont would accumulate millions of shares in a tiny company with the intention of selling them at an inflated price. Back during the 1990’s they aggressively promoted penny shares through cold calling, using unethical sales techniques to attract buyers, advertising stocks trading for pennies as the next Microsoft. Later Stratton Oakmont would sell for a massive profit and customers suffered huge losses. In the end, Jordan Belfort was responsible for defrauding customers out of $200 million in total.

Nowadays, penny stock promoters use the internet to promote companies. With the advancement of social media, its much easier to reach to a large audience. Promoters create websites to rank high on Google for specific search phrases and pay for ads on different search engines. Any time someone searches “hot stock tips”, they will come across their website and sign up to their email list. Another tactic is advertising on Facebook to specifically target people likely to fall prey to scams. Luckily the SEC has upped their game and is punishing promoters for illegal stock manipulation. The SEC are now monitoring the web for pump and dumps so the tactics mentioned are no longer as effective. Examples of some notorious promoters include Jonathan Lebed and John Babikian. These con artists defrauded millions from poor unsuspecting people. Always perform your own due diligence and never listen to “hot stock” tips.

Technical Analysis

Penny stock day traders need to learn technical analysis, so they can correctly time their entries and exits. Technical analysis is the study of historical chart patterns to predict the future direction of a stock’s price. It’s important to note technical analysis isn’t reliable for micro caps that are thinly traded. The greater the volume, the more trustworthy chart patterns become. Day traders such as Tim Grittani trade purely using technical analysis and ignore the fundamentals because they don’t matter in the short-run. Trade the ticker, not the company, is his motto!

Here are five basic terms you should know:

• Support Levels
• Resistance Levels
• Moving Averages
• RSI (Relative Strength Index )
• MACD (Moving Average Convergence Divergence)

Below is a helpful video from Peter Leeds. He explains the basics of candlestick charts, chart patterns and the best technical indicators to follow.

Penny Stock Strategies That Work

Short Selling

Shorting is one of the most popular strategies for volatile stocks in the $2-$10 range. Timothy Sykes popularized short selling over-hyped penny stocks and has made millions in the process. It involves placing a bet that a certain stock will decline in price. What confuses people is your selling a position in a stock you don’t own and buy it back later for a lower price. You’re borrowing shares from a broker who has shares available to short. If the stock drops, the profit is the difference between the price at time you borrowed and the price at which it was subsequently purchased. The problem is most brokerages don’t have the necessary tools to short sell stocks under $5 and therefore won’t allow investors to do so.

The optimal time to short sell is when a company explodes based on a catalyst and then wait like a sniper for momentum to slow down. This strategy is dangerous unless you have strong risk management. Technically your losses are unlimited. If you short 1000 shares at $4 and the price rises to $20, you lose $20,000! That’s more than 100% and end up owing money to your brokerage. Knowing when to short sell is difficult, stocks can act irrational longer than you can remain solvent. A lot of investors shorted the housing bubble too early and lost millions. Others waited for the right time and reaped the rewards.

Momentum Day Trading

Momentum traders make a living by finding penny stocks that are moving 20-30% in a day. They profit by taking either a long or short position hoping the momentum will continue in its current direction. Stocks that only move sideways are useless for these type of traders! To find volatile stocks use a stock screener such as Trade Ideas to gather a list. Using the correct criteria, you can whittle the list down from 5,000 to 10 stocks to watch. Building a watch-list is effective as you can focus your attention on just 10 charts instead of 100’s.

Criteria for momentum plays:

• Low float: the number of shares available to the public has to be under 100 million. Ultra low floats have around 15 million shares available. The lower the float, the less volume it takes for a stock to dramatically increase or decrease.
• Daily charts above the moving averages with no short-term resistance.
• High relative volume at least twice the daily average. The relative volume indicator is displayed as a ratio, example 4.5 means it is trading 4.5 times its normal volume.
• A positive or negative catalyst that will affect share price.

As with every strategy, the goal of momentum trading is finding high probability setups where you can control risk. This strategy is more popular in low priced stocks because of the rise of algorithmic trading. Algorithmic traders avoid small caps because the difference between the spread is too high. Their loss is your gain!

Long Term Investing

Investing in penny stocks for the long term requires using fundamental analysis to assess the attractiveness of a company. This is the same approach Warren Buffett uses but applied to the penny stock market. Investing early into small caps can be very lucrative but requires a lot of patience. You may end up buying and holding your position for a few years. While most long-term investments may not perform as expected others will become billion dollar businesses. Take Monster Energy as an example, it was once below one dollar in the mid-1990s. Back then the company was known as Hansen Natural. Right now their share price is $60 with a market cap of $31.4 billion! While investing in the next 1000% gainer is unrealistic there’s no reason why you can’t make 50-100% by investing in an undervalued company.

To achieve these impressive gains, you have to start generating ideas and researching companies. Over 95% of stocks under $5 are absolute garbage so you’ll need to dig through the remaining 5% to find the hidden gems.

Criteria to find the best small caps:

• Experienced management team with an impressive track record.
• Strong balance sheet – very little debt or long-term liabilities.
• Strong cash flow – it’s important the business can self-fund growth through revenue without needing to dilute shares.
• Operate in a hot sector – cyber security and artificial intelligence are prime examples.
• High barriers to entry in the industry – own a patented technology or have a sustainable competitive advantage.
• Consistent earnings that are growing each quarter. Watch out for companies using magic accounting to make financial results appear stronger.

Beware of Fraudsters

The penny stock industry is full of charlatans selling trading education to beginners. These self-proclaimed guru’s make thousands every month selling overpriced courses. They never reveal their track record and have no business teaching others how to trade. Some will show profits for certain trades but will never show their brokerage statements. Even 20 year old kids on social media are claiming to be experts. William Karaman and Austin Page are all good examples. These young kids understand there is easy money to make by selling education instead of trading. They can teach the basics of penny stocks and sound as though they are knowledgeable. On social media, they post images of their stacks of cash or their rented Lamborghini. Painting this false image of success. “Use my simple strategies and buy your own exotic sports car.” It annoys me how people can’t see through their bullshit.

With so many scam artists online, it’s difficult for beginners to learn without getting ripped off. Finding an experienced mentor with a solid track record and successful students is crucial. While not everyone likes Timothy Sykes, he has multiple success stories. Some of his most successful subscribers include Tim Grittani, Steven Dux, Michael Goode, Roland Wolf and Connor Bruggemann. An alternative option is using YouTube and Investopedia to educate yourself. There are hundreds of videos and free websites that teach the foundations of stock trading but beware of marketers creating videos purely to advertise their services. In addition to YouTube videos, Penny Stocks for Dummies by Peter Leeds is another great learning resource.

Conclusion

While penny stocks are risky there still is potential to make huge profits providing you follow a suitable strategy. The path to profitability can be a long road, learning to trade is a frustrating task that can take years to master. Get yourself a mentor and set yourself up for success. This requires investing heavily into education that will pay off in the long run.

Timothy Sykes is a penny stock trader and entrepreneur with a net worth of $20 million as estimated by Forbes. The 39-year-old is an outspoken character well-known within the day trading community for turning $12,000 into $5.6 million with penny stocks. His unique story and entertaining personality led to him featuring on Wall Street Warriors, a reality TV Series starring up and coming traders on Wall Street. During filming Sykes was fresh out of college, running a small cap hedge fund out of his New York apartment. The show was a cult hit and the publicity served as a huge launching pad for Tim’s education business. After the show aired, he received hundreds of emails from people wanting to learn how to trade penny stocks. Flash forward to 2020, Tim now has thousands of students around the globe and helped create four millionaire students.

Tim Sykes has proven himself to be quite the entrepreneur with multiple ventures to earn extra income.

Book – An American Hedge Fund

To capitalize on the hype after Wall Street Warriors, Sykes self-published a book detailing his journey to penny stock millionaire and the failure of his hedge fund. The book is an interesting read but doesn’t discuss in detail strategies or chart patterns he followed to make consistent profits. In the book, Sykes reveals his hatred for the hedge fund industry and the mistakes he made along the way. Currently, the book is available to buy in paperback from Amazon for $20 but can be downloaded for free in PDF from his website. I would estimate he made at least $200,000 in book sales and it also helps drive paying customers to his DVD store.

Blogging

Tim Sykes started his blog back in 2007 before blogging was mainstream. He initially created TimothySykes.com just as a way to promote his new book but soon realized the profit potential of selling online courses was far greater. The website became an instant hit attracting over 100,000 visitors per month, becoming the number one penny stock blog. Since then website traffic and income have continued to grow, going from $60,000 to $1,000,000+ per month. His educational empire is comprised of DVD’s and a membership service. As Timothy Sykes has verified millions in profits, thousands of aspiring traders purchased DVD’s and joined his alert service. Right now, there two different monthly options – Penny Stocking Silver ($149.95) and Tim Alerts ($74.95). 1,000 students paying $150 each month is nice residual income. Tim also runs a Millionaire Challenge program where those serious about learning pay a cool $5,000.

In addition to selling products, affiliate marketing is another avenue for Sykes to earn. He used to make money with affiliate marketing, promoting various brokerages such as Etrade and Interactive Brokers. These brokers no longer have affiliate programs but he still promotes them despite not receiving compensation.

Investimonials 

Investimonials.com is another venture set up in 2011, the website provides financial reviews of brokers, chat rooms, software and newsletters. It covers everything related to finance and aims to cut through all the bullshit on Wall Street. Users sign up and write honest reviews of financial products they bought. Since anyone can sign up and contribute reviews, the site monitors the content to ensure opinions are legitimate. The problem is there’s no way to verify the reviews are 100% real. Investimonials is a massive success for Tim, acting as a massive platform to sell advertising and drive more visitors back to his website.

Profitly 

Profit.ly is a social trading community where like-minded traders can connect, share ideas and verify their trading performance. The community has approximately 130,000 members that interact, share their track records and post blogs. The idea for Profitly came after Covestor removed Sykes from their service because he trades volatile penny stocks so members couldn’t replicate the same trades. Currently, Profit.ly has one other guru – Super Trades. The site has a leader board to track the best traders within the community. As of right now, the top traders are Gregg Sciabica (Lx21), Steven Dux, Tim Grittani (Kroyrunner), Michael Goode, Superman and Matthew Owens. It’s interesting to note out of the six people I mentioned, 4 of them were students of Timothy Sykes. The whole point of the site is for beginners to review the track record of talented traders and study their strategy.

StocksToTrade

Stockstotrade is a stock screening and charting tool developed to find new penny stock trade opportunities. Tim has invested hundreds of thousands by hiring a team of programmers to create the software. According to Linkedin, they have 11 full-time employees working on the tool. They are continually developing the platform and adding new features every week so one day it will overtake Trade-Ideas.com. Like all the top scanning websites it is expensive. Currently, there are two payment options, $179.95 per month or $1799.50 annually. Luckily they have a 7 day trial for $1, so you can try the tool before committing to a paid account. Stockstotrade.com is still a start-up with high costs, so I doubt the company is making any worthwhile profits.

House 

With a personal fortune of $20 million, he can afford to live in a mansion and race around in a Lamborghini. Below is a video of a gigantic mansion he rented for a year in Miami.

Sykes is an avid traveller and has explored 100 plus countries. His Instagram account displays all the exotic locations to inspire his 1,000,000 followers, all jealous of his ludicrous lifestyle. He could make a lot more money sitting in an office in front of 3 monitors but prefers to spend it in luxury resorts such as Bali, Greece or the Maldives.

Is Timothy Sykes Married?

Timothy Sykes was once engaged to Bianca Alexia Wilson but they are no longer together. Tim has no time for relationships as he’s fully dedicated to educating his students to the best of his ability.

Conclusion

Timothy Sykes is a talented day trader and entrepreneur who has built an online empire that has made him a multi-millionaire. Making millions every month means he can afford to live a lifestyle everyone dreams of. Love him or hate him, Tim is an entertaining person that makes trading less boring. There are dozens of stock market mentors online that sell courses but very few have the capability to make finance interesting. I would guess 25% of his fortune was earned through day trading while the rest was accumulated through selling educational products.

Many well-respected penny stock traders have managed to become “superstars” of the penny stock world. However, none of them have reached the kind of status that Timothy Sykes has, and he has solidified himself as a pillar of the penny stock community.

For those who are unaware, Sykes reached legendary status among penny stock circles when he earned well over $1 million day trading during his time at Tulane University. In fact, he was able to earn this amount of money by merely investing his Bar Mitzvah money. He also went on to run a hedge fund.

Sykes is currently a financial educator, and many individuals seek to follow his blueprint regarding penny stocks. He has also published books and created DVDs to help those who seek to replicate his success. Sykes has also launched websites and programs to help traders reach their full potential. However, many traders are curious as to which DVDs to purchase in order to succeed. Here are the top 5 Timothy Sykes DVDs that you should consider.

PennyStocking

The first DVD that traders should purchase is PennyStocking, and it’s a great introduction to Timothy Sykes and his strategies that have worked in the market. If you are a beginner, this is absolutely the place to start. If you are a seasoned trader, it still might provide insight into the penny stock world that can prove valuable.

This is the first Timothy Sykes DVD that you should explore, and you will be able to recognize patterns that will net you significant profits in the future. Of course, it’s up to you to use the strategies wisely. This particular DVD is 6 hours long, so it’s quite an investment.

TimRaw

Once you have a basic foundation of penny stocks, Tim Raw is a DVD that offers more strategies and basic tips that could help you succeed. Here, Sykes speaks a lot about specific chart patterns more than the penny stock market itself.

Also, he offers a lot of stories and perspective on his success that can prove useful. This might not be the most valuable Timothy Sykes DVD, but it’s worth a watch. This DVD is longer than usual, clocking in at 12 hours.

Learn Level 2

Penny stock trading isn’t just about recognizing chart patterns and digging into fundamentals. The penny stock world is also heavily determined by the Level II market makers, which often manipulate price action for their own benefit. If you want to succeed in penny stocks, you will have to know more about Level 2.

Timothy Sykes provides some incredible insight here into Level 2, and it is certainly one of his most important DVDs ever. If you are serious about improving when and why you enter and exit a stock – this is the Timothy Sykes DVD to purchase.

Spikeability

There are many Timothy Sykes DVDs that have garnered a significant amount of attention, but Spikeability is arguably his most underrated DVD to date. This particular DVD focuses on chart patterns and situations where traders can benefit from huge spikes in a stock.

Here, you can learn strategies on how to take advantage of stocks that run from 100% – 500%. Who wouldn’t want to learn about how to triple their money or more? Spikeability is definitely one of the Timothy Sykes DVDs to watch as soon as possible. The DVD is 6 hours long.

TIMFundamentals Part Deux

After you understand the basics, and the best ways to trade – there’s a lot more to learn about penny stocks. Here, Timothy Sykes takes you into the world of researching penny stocks, and identifying red flags that might end up draining your account if you aren’t careful. Sykes also elaborates on how to create watchlists, and other fundamentals that can turn you from a novice trader into an expert one.

This DVD does require some initial knowledge, but it still remains one of Timothy Sykes’ best DVDs in terms of actual valuable information.

Conclusion

Some people believe that Timothy Sykes is a polarizing figure, and argue that his financial education DVDs are overrated. However, there’s an important thing to note. Sykes actually has students that have replicated his success, which is quite the rarity when it comes to penny stock investing. Specifically, Tim Grittani used the strategies of Timothy Sykes to turn $1500 into over $1 million in just several years!

Timothy Sykes cannot turn you into an overnight millionaire, but he clearly does have information to offer that can help you capitalize on the right trades at the right times. We hope this list of DVDs guides you in the right direction.

The Brooklyn native who’s crazy lifestyle was portrayed by Leonardo DiCaprio in ‘The Wolf of Wall Street’, currently has a net worth of minus $100 million. Once worth millions, the former stockbroker experienced a massive fall from grace.

Made infamous through trading penny stocks throughout the ’90s and most notably the 2013 film ‘The Wolf of Wall Street’, Jordan Belfort co-founded Stratton Oakmont, along with his partner in crime, Danny Porush. Stratton Oakmont was a brokerage firm that promoted worthless penny stocks to uneducated investors. Belfort and his companions used aggressive sales tactics to increase share prices and would later dump the same stock for substantial profits, leaving customers with massive losses. The scheme was so successful that Belfort had a net worth of $200 million at his peak before the brokerage collapsed. 

For those less financially savvy, penny stocks are shares that typically trade under $5 per share with a market cap of $50-$300 million. 90% of penny stocks are completely worthless and only exist so shareholders can sell their shares at inflated prices. Most of these stocks trade on the OTC Bulletin Board and don’t have to release any financial statements to the public. Penny stocks are a hunting ground for scammers looking to make easy money, those new to stock trading get suckered in with the lure of making explosive returns.

Jordan Belfort’s Net Worth Explained

You may be wondering how someone can end up with a negative net worth of $100 million! This is due to the fact he was convicted by the SEC for stock manipulation. As well as receiving a 4-year jail sentence (22 months served), Belfort was also ordered to pay back the sum of $110.4 million to the victims he defrauded. With approximately $13 million paid back to date, Belfort still has a long way to go in terms of his reparations.

Over the last few years Belfort has made little effort to repay investors. He continues to the live high-life, renting a beautiful property by the sea in California and another five bedroom mansion on the shores of Lake Tahoe. The 58 year old only pays back $4,000 to $5,000 per month, at this rate it will take 1,600 years to clear the debt.

What is Jordan Belfort up to Today?

Since his release in 2006, Belfort has gone on to publish three books: ‘The Wolf of Wall Street’ (2007), ‘Catching the Wolf of Wall Street’ (2009), and a self-help book ‘The Way of the Wolf’ (2017). Receiving an advance of $500,000 for his first book just a few days after his release, it seemed like he couldn’t make money.

This initial book went on to see the popular film adaptation starring Leonardo DiCaprio and featured the same title. Despite this film making $392 million at the box office, Belfort sold the rights for a mere $1 million. Out of this $1 million, only $21,000 went towards his restitution payments leaving his victims a little bewildered. I wouldn’t be surprised if the con artist has millions stashed away in off-shore bank accounts. A lot of wealthy businessmen have their fortunes located offshore so the authorities can’t easily track their money.

Belfort has continuously stated his full intent to pay back his former investors and has been earning a substantial income through motivational speaking. Touring the world teaching entrepreneurs his ‘Straight Line Persuasion’ system, that reveals how to improve your sales by implementing various persuasions tactics. His ‘Straight Line Persuasion’ course, retails online for a mind-blowing $1,997. Belfort boasts he’ll earn more money in recent years than he ever did at the height of his stockbroking career.

With Belfort earning anywhere between $30,000-$80,000 per talk it’s easy to see how he could amass another fortune so quickly. He’s also stated that he fully intends on using 100% of his U.S. tour to fund his restitution package, already with $50 million sitting in an escrow account.

How Did Belfort Get Started?

Belfort was an entrepreneur at an early age, he began selling ice-cream in-between high school and college at a local beach with his childhood friend Elliot Loewenstern and made a cool $20,000.

After graduating from American University with a degree in biology he ended up in the surprising industry of door-to-door meat and seafood sales. Although Belfort experienced initial success, he inevitably filed for bankruptcy when he turned 25. This was his turning point as a family friend helped him gain a position as a trainee stockbroker at L.F. Rothschild and the man we all know was born.