Oliver Stone's Wall Street: Money Never Sleeps, opens nationwide on Friday. It’s been more than 20 years since the original left an indelible mark on high finance and Hollywood, becoming an instant classic.
The sequel stars Josh Brolin, Shia LaBeouf, Carey Mulligan, Susan Sarandon and Mr. Gordon Gekko himself, Michael Douglas.
LaBeouf knew nothing about finance before agreeing to do the film. But, once he signed on to do the movie, Stone told him he had "better get cracking."
He did his homework! Get a load of this!
"First thing I did was I took $20,000 out. Went down to the Schwab office in Encino [Calif.]. Walked in, said 'Hey, I know nothing. I am making this movie.' [They] set me up with all the Series 7 stuff," says LaBeouf, referencing the SEC exam that individuals working in the securities industry must pass.
LaBeouf tells Tech Ticker he was trading every day and everywhere, even on his cell phone.
"Went to George Soros' house for dinners. Hung out with Donald Trump and talked about real estate," he says. "I'd hang out with Jim Chanos. Nouriel Roubini was like my closest friend through all of this."
If you think that is impressive, LaBeouf has substantially grown his $20,000 original investment.
"I started at 20, I am at $650 today," he says.
No, not $650. He means $650,000!
Unlike LaBeouf, Brolin had a reputation as a savvy trader.
Before his acting career took off, a need for money spurred him to learn about the markets. "I took profit from a ranch I had sold and I started trading personally," says Brolin, who has called his addiction to trading "an evil little friend."
Oliver Stone -- a New York native -- became familiar with Wall Street at a very early age. His father was a stockbroker.
"Wall street has a purpose. My father used to say it is the engine of capitalism," Stone says.
After directing the Academy Award-winning "Platoon" in 1986, Stone was looking to stay closer to home for his next project. "In making ‘Wall Street,' I really wanted to see the war at home, so to speak, the war in the financial jungle of New York," he says.
Stone shot the sequel on location on Wall Street using real trading floors, real traders and the real media these investors watch minute by minute, day by day.
Rolling out The Red Carpet
The scene at the red carpet premiere in New York City earlier this week was frenetic.
CEOs and pundits from many of the investment houses used in the film were in attendance for the premiere, as were many business news TV personalities who have cameos in the new flick.
Also making an appearance -- to the surprise of many -- was quintessential value investor Warren Buffett. The CEO of Berkshire Hathaway doesn't give many interviews and he did not make any comments on his way into the theatre. However, after seeing the film he is said to have given it "two thumbs up."
As you'll see in the accompanying clip, Tech Ticker's very own Aaron Task was on the scene to ask the burning question on everyone's mind: How has Wall Street changed in the last 22 years since Douglas' Gekko delivered his legendary "greed is good" speech?
Oliver Stone: "I think banks became what Gekko was in the 1980s. Greed became greed plus envy [which] gave us more and more and more. As Gekko in the film says, ‘greed is now legal' in the sense that the banks were doing what he was doing back then and he went to jail."
CNBC's Melissa Francis: "I still believe greed is good. It is what makes capitalism work."
Shia LaBeouf: "No. They are bundling life insurance policies grim reaper style. It is even more morbid than it was. Banks are still doing the same thing. Goldman can still get free money from the government and call itself a commercial bank and it is not. Things are rough and nothing has changed really."
Susan Sarandon: "I always knew was something wrong with the idea of hedge funds. There is nothing that [they] are actually buying. That just never seemed right to me."
The one person we did speak to who thinks Wall Street HAS changed is CNBC's Jim Cramer: "The government is very sophisticated now...I have to tell ya, I think it is a much more honest game now."
What do you think?
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How did/can this happen? Companies with a lions share of the market, a lack of competition, less stocks to invest in, more brains helping each of those companies. Today too many large corp for this to happen regularly to an up and coming co. Then 20,000 was enough to buy as many shares today itll get you a fraction of 1000 shares in turn it will take longer to grow the same 650k but is very much so possible. Isn't this what we traders do every single day?
Hmmm...$650k off of $20k in a few months. Tell me the game ain't rigged? It ain't what you know its who you know.
When are they going to bring this a-h0 up on insider trading charges? No one, and I mean no one, makes 650K on 20K in that amount of time without inside information. And, who lets this guy leverage up the way he did to make this money. There was hardly an investment in the past 18 months that could have made those returns. He would have to be batting almost 1.000 to pull this off.
Amazing insider information is still at work! LaBeouf making $650k on $20k. It goes to show the game is fixed against the mom and pop investor who bares most if not all the risk but quickly gets out maneuvered by the professional traders and insiders!!!
Furthermore, it is amazing that derivatives instruments even exist because of no value behind them can be sold as investment... just paper... leading to Fiat investments!
Think of it from the point of view... How could the New York financial brain trust be so overpaid, overrated, as financial experts that they have screwed up financial market worse than at any other time in history! They should be hung and quartered for their fraud!!!
Now the taxpayers are footing the bills for the bailouts in the U.S. and elsewhere... what fools we as politician must be!!!
But like certain professions that practice... politicians will take credit and pay increases when things go well and make the taxpayer pay when the get it wrong!!!
Now Jim Crammer... what a shill for the industry!
Ah.....capitalism---a love story.
Wall Street is nothing more then a focusing mirror for the 7 deadly sins. Anger, Greed, Envy, Lust, Pride, Gluttony, and Sloth.
it'll never be an honest game. they'll find another loophole to exploit. it's just a matter of time.
"Reality is relative and perception is everything...", when THAT is a corporation's m.o. you know you've stepped into a different dimension. GREED is not good when it harms others. Unsustainable profiteering is the result of investors with unrealistic expectations on returns fueled by GREED, and is the ugly side of Capitalism. This film seems to show that ugly face with glamour and pizazz.
What a joke. This is like Hillary Clinton making a 10,000% gain in pork bellies in a month. George Soros--that wonderful bastion of economic fairness--probably let Leboeuf "front run" on his own huge trades. Maybe Oliver stone should investigate that.
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