What’s a Fugazi?

Earlier this week on Late Night with Jimmy Kimmel, a super cute and talented five-year-old, who has an amazing ability to memorize famous monologues from movies, performed Matthew McConaughey’s stock broker speech from the Wolf of Wall Street. In one of the first scenes, McConaughey takes the young, innocent Belfort to lunch at Windows of the World and explains Wall Street to him.

The way he explains Wall Street money as a fantasy, it’s salesmen as crooked soldiers who treat their clients as idiots, is incredibly accurate.
Listening to this little kid say those words, we took a moment to marinate on how messed up our retirement system is. Just watch the clip below, you will see what we mean.

And if you feel like you want to do something about it, join the Retirement Security for All campaign. We see through the smoke and mirrors of Wall Street and now we have to get the word out. 401 K plans are severely flawed. And Wall Street pushing these plans down our throats against all other sensible and fiscally responsible retirement options, like pensions, is ridiculous.

This speech is what turned DiCaprio’s Belfort into THE WOLF of Wall Street. Maybe this speech with turn you into the MAPMAKERS of Main Street who will create the path to Retirement Security. It is going to be a journey. We want you on board.
Watch Video Here:

Here is the speech transcribed:

I don’t care if you are Warren Buffet or Jimmy Buffet.
Nobody knows if a stock is going to go up, down, sideways or in freaking circles. Least of all the stock brokers.

It’s a fugazi. Do you know what a fugazi is? It’s a fake. It doesn’t exist. It never landed. It is no matter. It’s not on the elemental chart. It’s not real. Stay with me. We don’t paint. We don’t build anything.

So, if you have a client who bought stock at 8 and announces 16, he’s all happy. He wants to cash it. Liquidate. Take his money and run home. Don’t let him do that. Because that would make it real.

What do you do? You get another brilliant idea. A special idea. Another situation. Another stock to reinvest his earnings and then some.

And he will do it every single time. Because they are addicted. And he will keep doing this again and again and again. Meanwhile he thinks he is getting rich, which he is on paper, but you and me, the brokers, we are taking home cold hard cash via commission.