I didn't quite understand the ending. So does that mean, they gave him free stocks? Compliments of the house? Do brokerages really do this to keep loser clients happy?
If it's not free, how would Harry get back his 50k and pay for the 10k shares of met patent?
Someone please school me. Thanks!
I believe the plan was they were going to cash him out, whatever he had left from the previous trade, and use that to buy up whatever they could on the new stock.
sharethis was confusing to me as well and i was in the business in this era. what's really odd about the whole ting is after diesel signs off on the trade, as required, dude never takes it back in the office to the cage. he just leaves the building! the trade never went through.
shareWell, the voice over at the end does say he didn't get him his money back. Also, I don't know if you have the DVD or not but there is an alternate ending where the guy shows up at the office and I believe he may have a gun as well.
share[deleted]
version I saw on IFC shows Diesel in the office after packing up some fed-ex packages
sounded like the shares were given as a "credit" on his account.
If they can change the RIP arbitrarily, I'm sure they can do this
Harry couldn't just sell the Farrowtech stock since it had already lost 90% of its value. So Seth gets Michael to agree to trade Harry the shares of Met for his shares of Farrowtech, then Seth sells the Met stock and Harry gets his money back.
By doing a stock swap, Michael makes the client happy without actually parting with any cash and, with the stipulation that the client can't sell the Met stock for six months, he probably never will. He agres to the deal since Seth tells him the client is a whale who can be taken for even more money in the future, if they can calm him down now with a "make good" swap.
But what Seth does is he puts in an immediate sell order on the Met stock that will let Harry get his money out of the stock. Greg won't sign it, he was there when Michael said the client wouldn't be allowed to sell, but Chris does. Heck, if the Met stock is worth more than $5 a share, Harry will even make money on the deal.
I don't know if such deals are common in stock trading circles, but I'd guess that they do occur. Some may recall a dustup involving Hilary Clinton and cattle future trading back in the 80s. It was alleged that money was being funneled to the Clintons through futures trading made on margin. The story was, if Hilary came ahead on a deal, she kept the money. If she lost money on a trade, the broker ate the loss as a "make good" much like the one in the movie. They kept trading for her until she was a few hundred thousand bucks ahead, then closed the account.
"You didn't come into this life just to sit around on a dugout bench, did ya?" - Morris Buttermaker
But what Seth does is he puts in an immediate sell order on the Met stock that will let Harry get his money out of the stock.