Do Boiler Rooms still exist?
I know someone who worked at PWM firm and he said they were using the same marketing techniques and convo methods and such. Are there still firms like these today? How do people even stumble upon them to work for them?
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i can vouch that your mom's boiler room is running hot and heavy
:)
yes, car dealerships and gyms.
I looked at new cars and gyms online and filled out some info.. they will not stop calling me.
Ps looking to offload a blue Prius and curves membership
lmfao
SoulCycle qualifies...
Don't pitch the bitch.
GoldenCinderblock sorry homie
all good mang
Yes, they exist. Its basically small firms that are chop shops with little to no quality control.
How can I find one?
Just PM my name is goldstein, I hear he's starting one with $2 rips.
Yes.
Though, these days they sell some garbage MLM products disguised as cryptocurrencies, like OneCoin and a plethora of similar junk. Old people are literally handing over their life savings to these scumbags, because they have been convinced the currency is like bitcoin 2.0, when in reality it's just a huge ponzi scheme.
See www.behindmlm.com for what's "hot".
Are there still boiler rooms that sell penny stocks? Yes, but they are a bit more law-abiding than before. Those type of shops just hire telemarketers, and get them to sell products. That area (securities) are extensively covered by the law these days, so it's hard to become rich unless you're very willing to risk jail-time. If you see any job listings, with some no-name "capital" firm, looking for brokers, usually with some catchy "Get a foot inside the world of finance!", it's 120% a shitty bucket shop that has you selling penny stocks for 10 bucks / hour, with monthly bonuses for their best sellers.
I know one guy that works at a shop like that, and it's basically filled with the worst college dropout bros, that wanted to get into trading after watching the wolf of wall street. The pay is shit, and you're pretty much a glorified telemarketer that redirects calls.
The cryptocurrency market is so fresh, and still unregulated, that it's attracting all the big MLM players around the world. Pretty much the same type of people that got filthy rich doing boiler rooms in the 80's and 90's.
:)
Dude are you on here asking people how to be a scheister? Honestly, I got nothing against scheistering. But if you can’t figure it out yourself, it’s not gonna go well for you. Maybe get like a CPA and do audits instead.
Cryptocurrencies are digital currencies which are made using the blockchain technology - These can be completely legit, like bitcoins.
The MLM or Ponzi scheme versions you see, have nothing in common. They are simply using the fact that bitcoins have exploded in value, and use that as a marketing ploy to get people on-board. 10 years ago, the same people were selling bullshit lifestyle products for the same.
Here's how it works with legit cryptocurrencies: You either mine blocks with your own computer, or buy from others through exchanges or private. The more that has been mined, the longer it takes to mine, as there's a finite amount of the currency. This model follows pretty simple supply and demand. But most important: You can buy these in exchanges, and you can observe every transaction - it's all very transparent.
Here's how it works with bullshit MLM / ponzi coins: The scammers will offer investors to buy "mining" tokens and educational material. The prices can vary from a few hundred, to tens of thousands of USD / EUR / etc. Each of these coins have their own private exchange, with a coin / USD ticker, and that's all you know about it. You have NO information about mining, NO information about transactions, nothing. You just have to take their word for it, that there actually is some kind of coin at all.
They will continue to offer you educational upgrades, and various packages that guarantees you 100%-2000% ROI, out of the blue. They will parade early investors in fancy clothes, nice cars, just like with ponzi schemes - to show that it's "not fake". They usually travel from city to city, and hold extravagant conferences and shows. They will usually cater to low-income and tech-illiterate people
Many have theorized that this is what actually happens:
The money you pay in, goes right into their checking account, and is routed to Russia, Bulgaria, and such countries. They pay back western investors with all the cash they've managed to steal from 3rd wold countries. If you watch some of these (like OneCoin), there's a pattern of them getting shut down everywhere.
Regular investors have to wait 3-12 months to withdraw cash, and usually these companies will issue their own credit cards to customers, with very high conversion rates and fees. You basically have to jump through many hoops to just get any of your returns. And they will, in normal ponzi fashion, harass you to re-invest everything.
There's also theories that many of these are connected to organized crime, and are just using the usual suspects from the MLM scene as props and fall-men.
hey i feel bad now. sorry for making fun of you. you'll do fine man. just quit being a pansy with the feelings and shit
I'll accept your apology if you tell me what friggen job pays $15/hour plus commissions!
Sounds like Seattle
Optician. I've worked at JCPenney Optical (US Vision), Sears Optical (Luxottica), and VisionWorks. All within the same mall. I'd work at each one for like 8 months and leave for the competition and more money. Also sold like $10k of stolen frames and sunnies on Ebay and made like $3K on bogus contact lens sales to fake customers. The Sears people came to my VisionWorks job after I left cause they finally caught me on the contacts but had no actionable proof and I just denied and told them to get he fuck out my employer before I sued them for libel or some shit. Also stole a bunch of shit from Sears.
VisionWorks had scaling commissions so for like every $50K you sold that year, it would increase by 0.5% and reset January. So by December, I was making like $350 a day in commissions. Also had a landwhale manager at Sears quit cause I wouldn't let her blow me. Somewhat regret that although I did get a lot of OT and leverage out of the situation
I had like some retarded amount of cash for a 19-year-old then blew it all on drugs and swords and two-week Xanax binges I don't remember and shit. Should have said fuck college and gotten into real estate right then. But my life is dope now so whatever
"YOU'RE SO MEAN!!!"
I think the mods need to add a tag so we know which users are high schoolers. The demographics on here are getting a little out of hand
I was asking a question in the off topic section quit being such a pansy.
you can't call people a pansy when you've been the biggest pansy since vikrum bandit honestly man, i would join the military if i were you. it would be good for you.
Absolutely yes
:)
.
Will working at "Boiler Room" help me even if I don't want to go to Sales (Originally Posted: 07/26/2013)
I have done some sales jobs to finance my studies and because of that experience I have now been offered a change to work at "Boiler Room". I mean nothing illegal, but just PWM sales job where I would be cold calling high networth individuals etc. After college I probably dont wont to go to Sales but for trading or ibanking. Will this experience in my CV be any worth those positions? Or at least could it help me to get summer internship from trading or banking?
Depends. We need more information. What year are you in? What type of school do you go to? Any leadership positions? And so one...
Generally speaking, no, it will probably not help you (unless you are a freshman). Just give more information and we'll be able to help you better
Non-Exlcusive Bolier Room Style I-Sales Shop (Originally Posted: 05/19/2017)
What is your opinion on the boiler room type firms that mostly work on non exclusive deals in NYC? Not going to give names but these firms take almost anyone in as a broker with the hope that the young guys they hire will come to the firm and work their ass off and make deals happen. I know there are a few reputable shops that do close huge volume in new york city this way and I know a few guys who give MDs at Cushman and CBRE a run for their money in terms of closed dollar amount but what do you think?
My only advice is do whatever is right for you, thinking about both in the short term and the long term. Never forget that this industry is built around reputation at both the firm level and individual level, and you never want to ruin that by getting a short term larger pay out (in my opinion). Pick the firm that is best suited for you individually. Personally I would not choose to go into one of these shops, but everyone is different and has different long term goals. That's just one monkeys opinion.
I would stay away from these but that's just my opinion. With a boutique shop you'll like be in a true sink or swim environment with no salary and likely cold calling plenty. I also don't think think exit ops are good at all. Of course there's some reputable boutique shops in NYC who do massive deals but many just take on anyone. (aka the firm that posts a job for IS broker everyday I'm sure NYC guys know who I'm talking about)
Just stay away from Morgehn Stanlee, sheisty bastards!
Just food for thought: None of the most respected IS shops nationally and globally (CBRE, JLL, Eastdil, HFF, etc), are hiring producers to their capital markets/IS groups without proven brokerage experience or time spent as an analyst or similar. I would be wary of any firm who is willing to unleash young wanna-be brokers on the phones without a few years of work in CRE to ensure they are at lease literate in the business.
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