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Good day, everybody, fellow dealmakers out there. I want to introduce you to a legend. Now, listen up to some of this history. We're talking about Mr. Morty here. Helped over 400 early-stage companies raise over $3 billion. Mr. Morty, welcome to the show.
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Thank you.
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Yes, sir. Alright, so, Morty, why don't you tell us a little bit about who you are?
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I am?
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Yeah! I wanna know exactly who you are, sir.
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Quite a second now.
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Yeah, absolutely. I gotta check my biography. Is it working?
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Yeah. Alright, so why don't you tell us a little bit about who you are, and maybe some of your background story?
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Well, huh.
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It's very, uplifting.
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Because I started as a very… poor… Person.
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My family's is very poor.
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And you couldn't be lower on a totem pole than I was.
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And I wound up, miraculously, at Harvard Business School, Top of my class.
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And started, working on Wall Street, and… Within 10 years.
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on Wall Street, from being totally broke.
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With a wife and 3 infant kids.
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I had made my first million dollars.
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So… It was remarkable. It shows anything could happen.
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If you work hard at it.
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And I did. I worked very hard.
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24-7.
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And… Found a niche.
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That needed a covering.
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So, I funded… Startup companies, From scratch, that had little… I'll go on for them, except, Projection of what they plan to do.
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They were hardly off the ground.
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And I raised the original capital.
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And I did IPOs for them.
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And, fortunately, I made a lot of lucky… Decisions, of, good guys, hard-working guys.
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No radical guys like me.
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He'll refuse to lose… And then just went on.
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to be big winners and make me look like, I was bright.
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Yeah.
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It's always your bet on the jockey.
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Man…
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That's so true. Bet the Jockey. I used to have a media broadcast called Bet the Jockey, where we… where we did just that. We looked for people to, you know, work with and partner with. So, kind of from rags-to-riches kind of story, and what would you attribute that that shift from? Because I know it takes… for people to rise out of poverty, or from being broke and poor, there's a mindset shift that happens that, you know, before the dollars come. Did you experience that in your life?
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Yeah, well, one of the reasons I worked so hard.
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is I wanted to distance myself.
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From that state that my parents lived in.
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Always… enough.
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Hand to mouth.
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Just about making… You know, the necessities available to us.
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So, it was that commitment That I didn't want to be… In that same, state of… Bing.
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So… I just work 24-7.
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Endlessly.
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And… Who's Who. It used to be a dominant, publication, And they interviewed Successful people and ask them What would you, you know, attribute your success?
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So, and I said, The harder you work, The luckier you get.
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And that's the secret of my success.
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I just kept working and working and working.
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And some things… Work out sometimes when you, when you work hard.
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Yeah.
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And that was very, very, very secretive.
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It's just that I didn't want to be poor.
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I get that. Now, it also helped that you had, you know, 3 young kids at home, so if you didn't work, they didn't eat. That is a good motivator. So running from… running from, I don't want to be poor, and from, you know, your place of origin, and wanting to make a name and a change for yourself, right?
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but also providing for that family. Talk to us about, you know.
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as you're going through this, this, you know, starting to work on Wall Street, and starting to find your niche with micro-cap IPOs, and taking, you know, starter companies public and helping them raise capital, kind of give an idea on what that looked like. You said you work 24-7, but You also had kids at home. How did you find balance? How did you find happiness? How did you help the wifey out?
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Well, huh… And a part of life is luck.
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And my parents never will finish high school, so they didn't know anything about Harvard, or… or… college or in advance. My younger brother, who was more… consistent, because I dropped out of high school, when I was 14.
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Rebelling against the… Hmm.
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Yeshiva, the, the Hebrew school that I went to, where the rabbis were newly… the height of the Depression. I was born in 1929.
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And they weren't trained.
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There were really recently arrivals from Russia, Poland… Wherever.
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And so… They… they weren't very nice to us kids.
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I was 5 years old, I was getting… Eating up.
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There was no attention deficit.
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If you didn't… they didn't walk up to you and said… they said, where's the place?
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As his first stumbled, You were distracted for 2 seconds, They give you a… a frost… a slap in the face. The rest of the day.
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Their fingers were imprinted on you.
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on your face.
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So… I never had an attention deficit.
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Yeah, yeah.
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And so, my brother, who was younger.
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Well, I wound up going to Brooklyn College for free.
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But he was a good student and never dropped out like I did. I dropped out when I was 14.
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Rebelling against everything, religion, and… The only thing that I… Left with a respect for learning and studying.
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And so once I stopped rebelling.
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I went back to night school of my own felicity.
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Is to be afraid to go to night school, because… I went to Central Girls High at 9… There's a lot of money.
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My daughters used to have friends over.
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And they will wonder if… Their father was a transvestite. My diploma said, Morty Davis.
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Central girls talk.
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Huh.
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I was ahead of my time.
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Yeah. So your brother, was he older or younger than you?
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Younger.
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Okay, so he was the consistent one, good at school. You were the rebel, Mr. Morty.
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He was the one.
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That's the first one in our family that went to college.
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And he was in the course.
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An economic course.
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Where the professor said the average graduate at Harvard Business School.
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You have to remember this back in the 30s.
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was earning… $25,000 a year.
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That was big, because people once asked if my friend and I… Walking along, and they said, would you settle for $5,000?
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That was there for life.
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And my friend immediately said, absolutely.
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And I said, well, you know, I don't know that I had a better idea. I didn't even know what it was. I said, I don't know, I'm not sure.
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Of $5,000 a year was… Phenomenal.
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And this professor said the average student would Was earning $25,000 a year.
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That's more impressive.
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Done… learning that the average student out of Harvard Business School graduating Partly makes… $25 million a year.
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Yeah. Those days, nobody made that kind of money.
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So once I found that out, and I heard that, I… Dedicated my… dedicated my life Make sure I… Before that, I never had a higher than… 65, which was the minimal Passing grade.
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Of course, of course.
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After that, I locked myself in.
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I didn't see my kids.
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All my infants, 3, 3 infants.
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94 years old, the oldest. Yeah.
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And I just sat in front of a wall, And… studied… the textbooks.
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From cover to cover, over, over and over again.
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And it teaches notes over and over again.
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Item for an item.
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That was a great secret, and… Getting good grades.
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And getting out of local college.
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Even though I never met a matriculator at first, because I had such low grade.
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I had to pay.
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to attend.
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Even though it was a free college.
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And I graduated.
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top of my class at Brooklyn College.
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All the local newspapers, That time, I lived on Staten Island.
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So, me and my three… Little girls and my wife.
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appeared on the front page of the Staten Island Advance, Which was, like, the… How old readership of… everybody in, Staten Island.
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And I was… in those days, we had a letter.
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Different newspapers in New York.
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So I appeared in every… newspaper.
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With my picture, and my three little… Babies, literally.
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And my wife.
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We had the New York Post, The, morning.
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Telecra… So many different… newspapers.
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Yeah.
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Even the New York Times, which never… There's articles like that.
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Didn't publish pictures.
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But they run the… very… Impressive article.
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Brooklyn.
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college released those pictures as a PR… for Brooklyn College.
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To this day, I'm proud of those pictures.
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Yeah. Do you have those pictures still, like, in a frame or a book or something?
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Yeah.
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Love.
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That's special, that's special. I love hearing people's stories and, people's stories of change, where they've changed their family tree, and where they make, you know, a hard decision to readjust. Oh, I think we're actually gonna see that, so if you guys are watching in on YouTube, take a look at this. Data 3 on our list in Record Brooklyn College class. Oh, look at that.
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Oh, man, what an honor. So, thank you, Mr. Morty, on the back, Leonard.
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Alright, so then we got into finding your niche, which was investing in startups.
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How does… how did that happen, going, you know, from wherever you grew up and whatever your background was, but dropping out of… actually, this is hilarious. Dropping out of school at 14, then going to an all-girls school and graduating, and then… Graduating top of your class.
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going to Harvard, and then getting into investing in startups, and then raising $3 billion for over 400 startups. So, like, that's a phenomenal story. How does that happen? Tell me about, like, the journey to get into investment banking and Wall Street work.
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Well, once I decided to go back to school.
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Was what stuck with me from all the… Jewish learning, Hebrew learning, is a stress on Studying and learning.
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So, of my own volition, I returned.
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But it was a scary experience.
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Because during the daytime, Central Girls High was considered an outstanding school.
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But in the evening.
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I was the only one in my class, I think, that didn't have a juvenile records. Even the girls.
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How to… that would… Maybe 16, 15… had prostitution records. Oh, jeez.
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I was… they were, you know… Juvenile delinquent stuff.
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They were out of the… Jail pre-prison.
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shortly before… They came to that school.
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And all the, all the… Guys had shivs in their boots.
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Nobody had guns, because that… Nobody had money in those days.
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Yeah.
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Nobody could afford a gun.
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That shifts in their boats.
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soft knives.
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And… I was actually afraid to go to school.
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It was called the, Bed-Stuy… Bed-Stuy section of Brooklyn.
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Which was very dangerous.
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section of Brooklyn.
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So… I went for 4 years.
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At night.
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I didn't… Learned very much.
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I attended classes, pretty much.
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Four years.
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The only thing I learned… It took Spanish as a… as a… Option.
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And I didn't learn… Spanish.
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But every Christmas, I learned Nor should they pass.
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No, today I'm more… that's the… I'm 4 years, that's all I learned.
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Silent night, or Holo Night. Yeah.
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Spanish. Yeah. To this day, I don't remember.
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Yeah. It's amazing how many little things we remember over the years, tiny memories that become a part of our joy later on.
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Alright, so talk to us about, you know, you went from walking around with You know, people who had records and shivs in their boots and prostitution records to… to Wall Street, Definitely.
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Before I got a job on Wall Street, I had applied many times.
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the different jobs.
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And I never got accepted.
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I was so retarded. I used to wear black shoes with white socks.
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I remember.
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President of the company.
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interviewed me.
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I've never been to a restaurant in my life.
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Boom.
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pop, wall Street, restaurant, White's at the time.
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So, I don't know what to order.
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I looked at the menu, and I ordered… Tona fish.
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I'm… Post.
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The lettuce and tomato.
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When they brought it, I started to take her at a knife and a fork. I thought that was the right… Hanging in a fancy.
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And he made me aware.
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That it's alright to… Pick it up and ate it at a sandwich.
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As I retarded her back what I was.
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But I never cut… Got an offer.
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the work. I did get one offer.
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As a salesman, Even though my brother had been hired.
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when he graduated Brooklyn College, Whereas they, For the insurance department, for their estate planning.
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And I envied him, because… He was working in a warm office. I was a salesman door-to-door.
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Freezing everything of me.
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Every day, you know, winter, No, no.
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Hey, drinking.
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Heavy packages from one.
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As to another.
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the average woman Slamming the… Door in my face.
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I used to just say, Please open it up, and let me get my merchandise back.
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And I've never… I was so frightened about… Canvassing door-to-door. I took my wife along, sit in the car.
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And I went in, I'd never been in a one-family home.
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Yeah.
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So, Brooklyn… Where I lived.
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You went into an entree hallway.
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Where the hall… where the bells were, And the mailboxes were… And then he rang the bell.
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And somebody would answer, and you'd say what you're there for.
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Why you… why you want to see them, or something?
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So, the first… One family house I walked into, I did not always, unlike… the houses in Brooklyn, no entry hall, so I open a door, the woman… came out and saw me in her living room. She said, what are you doing here? I'm calling the police.
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That's so scared.
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I… I went out, I left… Then I didn't realize.
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was the house we lived in in Brooklyn.
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We didn't use the front of the house as the entrance.
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We went through the side.
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Where we parked the cars.
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So I went around to the side thinking it's a different apartment.
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And I went in again and said.
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The apartment, and then she saw me there.
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She said, what are you doing here? I just threw you out of the front there. What are you… I'm calling the police. So I ran outside.
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Ran to the car with my wife in it, and took off.
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I figured I was gonna make a lot of progress.
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With the window card or not.
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Yeah, I… invading… people's houses.
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With, without an invite.
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Yeah.
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I didn't know, so anyway… A lot of interesting experiences.
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That would, for most people, Not learning processes, but they know it.
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And I had no, no idea.
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So, I ran out to the car, and I took off.
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And I didn't stop.
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Who's that again in the other half?
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But, no.
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It was a horrible… work, because I was selling Different, every, every kind of product.
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Daughter, daughter.
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We're a dollar a down, and a dollar a week.
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Right.
00:21:44.420 --> 00:21:48.048
Initially, they slammed the doors.
00:21:48.819 --> 00:21:49.839
on me.
00:21:50.140 --> 00:21:51.798
Not to let me in.
00:21:52.180 --> 00:21:55.759
But every once in a while, they let me in, and for a dollar a week.
00:21:56.329 --> 00:22:02.308
They often bought some of the stuff that I was… Made available every kind of product.
00:22:02.809 --> 00:22:05.638
Clothing, for, everything.
00:22:06.680 --> 00:22:08.778
place on East Broadway in Manhattan.
00:22:08.970 --> 00:22:13.220
That cater to this… this kind of… Salesman.
00:22:13.390 --> 00:22:15.730
They call them customer pedals.
00:22:16.240 --> 00:22:18.259
We bought that product there.
00:22:18.839 --> 00:22:20.538
We've paid them.
00:22:21.130 --> 00:22:23.490
And then we delivered to these.
00:22:23.660 --> 00:22:26.749
Women… And collected a dollar a week.
00:22:27.140 --> 00:22:32.769
After making the sale of sale, every week that I stopped off to collect a dollar.
00:22:34.680 --> 00:22:37.500
They said, nobody's home. Yep, yeah.
00:22:38.450 --> 00:22:40.210
Very evasive.
00:22:42.109 --> 00:22:45.338
So you had to do the sales and collect the money?
00:22:45.710 --> 00:22:51.269
Yeah, I… This thing is making the sale, you know, getting declined.
00:22:51.390 --> 00:23:04.259
Yeah. Once I got the client, I could sell her, you know, clothing, underwear, bedspreads, All different kind of things, the living room.
00:23:04.369 --> 00:23:05.829
Even furniture.
00:23:06.000 --> 00:23:09.339
Couches, vacuum cleaners, everything.
00:23:09.339 --> 00:23:18.419
And Morty, what would… what do you do when they didn't… they said, no one's home! And you're like, I hear you in the house. How did you collect the money? Give us some, collection advice.
00:23:18.420 --> 00:23:21.269
I didn't collect it, I aggravated.
00:23:21.480 --> 00:23:22.598
Okay, got it.
00:23:22.599 --> 00:23:28.329
I went back week after week sometimes. I got a dollar sometimes, I didn't.
00:23:28.329 --> 00:23:28.690
Yeah.
00:23:29.559 --> 00:23:32.119
I don't know when that froze my nuts off.
00:23:32.549 --> 00:23:34.828
I had an old car.
00:23:35.170 --> 00:23:37.319
And it was very cold.
00:23:37.460 --> 00:23:39.489
Walking around with packages.
00:23:39.730 --> 00:23:42.039
Until you got into somebody's house.
00:23:42.339 --> 00:23:44.759
Apartment or house.
00:23:45.400 --> 00:23:48.200
And in the summer, I sweated like a pink.
00:23:48.490 --> 00:23:51.480
Carrying vacuum cleaners and different things.
00:23:52.680 --> 00:23:53.930
Oh, nice.
00:23:54.180 --> 00:24:00.049
That, together with… Driving than old… Wreck of a car.
00:24:00.200 --> 00:24:02.109
That broke down all the time.
00:24:02.519 --> 00:24:07.400
I cursed a car, I cursed every… I cursed my life.
00:24:07.400 --> 00:24:23.990
Yeah. No, I completely understand that. I went door-to-door selling as well. It is a hard job, because you get door slammed in your face, you get rejection constantly. It takes some stones, some chutzpah, right, to knock on some doors.
00:24:23.990 --> 00:24:27.749
Look how successful you turned out to be. It's a good trend.
00:24:27.980 --> 00:24:29.769
Catching up to you, Morty.
00:24:29.769 --> 00:24:31.269
That's good training.
00:24:31.369 --> 00:24:33.279
It is good training. It really is.
00:24:33.279 --> 00:24:36.029
The School of Hard… the School of Hard Knocks.
00:24:36.029 --> 00:24:37.450
School of Hard Knocks.
00:24:37.700 --> 00:24:45.359
Yeah, I think, you know, tough times take, you know, create tough… Tough men, tough workers, tough filmmakers, right?
00:24:45.640 --> 00:24:49.619
Alright, so Morty, I'm itching, man, I gotta know about this Wall Street.
00:24:49.619 --> 00:24:55.109
Oh, once, once, once I got to work, then I… An office, and got accepted.
00:24:55.519 --> 00:24:57.289
For a normal job.
00:24:57.769 --> 00:24:59.660
When people hung up on me.
00:25:00.390 --> 00:25:03.269
It didn't bother me at all, because I was at least in a warm.
00:25:03.269 --> 00:25:07.799
In a warm office, for sure. Yeah. Yeah.
00:25:08.829 --> 00:25:10.859
A significant upgrade.
00:25:10.859 --> 00:25:12.990
Yeah, that's good, man.
00:25:13.640 --> 00:25:15.088
But I work day and night.
00:25:15.940 --> 00:25:23.528
was a guy I… Talked with as a top salesman, A broker and a firm.
00:25:23.680 --> 00:25:25.369
Shields and Company.
00:25:26.119 --> 00:25:30.420
a song by… very religious Catholics.
00:25:31.430 --> 00:25:35.929
And, the son of the owner.
00:25:36.380 --> 00:25:37.549
Litchfield.
00:25:37.960 --> 00:25:39.549
Every lunchtime.
00:25:40.150 --> 00:25:44.650
went down across the street from Wall Street, of Pine Street.
00:25:45.390 --> 00:25:48.118
We're Lord Catholic Church.
00:25:48.329 --> 00:25:49.358
And prayed.
00:25:49.529 --> 00:25:55.829
But they were very prominent in the field of… Sailing.
00:25:56.119 --> 00:25:59.378
Every Sunday, in the New York Times.
00:25:59.710 --> 00:26:03.970
They gave the results of the… Whatever they called it.
00:26:05.210 --> 00:26:06.069
race.
00:26:07.240 --> 00:26:08.390
What?
00:26:09.230 --> 00:26:11.838
The regatta? Regatta. The regatta.
00:26:12.359 --> 00:26:14.930
Cool. And they were, they were always the.
00:26:15.549 --> 00:26:19.378
the shields… Regatta was won by this one.
00:26:19.589 --> 00:26:23.138
But it was the… This field family.
00:26:23.339 --> 00:26:24.230
Right.
00:26:24.480 --> 00:26:26.719
Very religious, very prominent.
00:26:27.329 --> 00:26:30.848
there's… The daughter, one of the daughters.
00:26:31.059 --> 00:26:33.259
was married to Gary Cooper.
00:26:33.650 --> 00:26:36.759
Well, at that time, I don't have to know who he was.
00:26:36.980 --> 00:26:40.308
was a superstar of Hollywood.
00:26:40.750 --> 00:26:42.039
Yeah, super cool.
00:26:45.250 --> 00:26:51.739
So… I had a lot of interesting experiences.
00:26:52.019 --> 00:26:53.130
On the way up.
00:26:53.480 --> 00:26:57.869
Yeah, well, talk to us. We've got time, talk to us about some of them.
00:26:57.869 --> 00:27:00.019
On the way up from zero.
00:27:00.200 --> 00:27:02.729
To zero plus.
00:27:02.730 --> 00:27:04.490
Yeah.
00:27:06.119 --> 00:27:06.690
Okay.
00:27:06.690 --> 00:27:11.130
But anyway, this guy can… the guy… I… Interviewed.
00:27:11.630 --> 00:27:17.619
I managed to… Mid… The guy who was the most successful salesman.
00:27:17.759 --> 00:27:19.509
their organization.
00:27:20.000 --> 00:27:21.910
And I thought, what's the secret?
00:27:22.460 --> 00:27:24.269
In those days you were allowed to make.
00:27:24.519 --> 00:27:25.969
Cold calls.
00:27:26.450 --> 00:27:27.589
the people.
00:27:28.240 --> 00:27:32.900
They changed that. You have to know the people before you can call them.
00:27:33.890 --> 00:27:36.259
So… Yes, sir.
00:27:36.940 --> 00:27:38.720
Just get on the phone.
00:27:39.089 --> 00:27:40.818
And don't stop calling.
00:27:42.019 --> 00:27:43.250
Keep calling it.
00:27:44.329 --> 00:27:46.579
One in a hundred is waiting for you.
00:27:46.849 --> 00:27:47.740
Hmm.
00:27:48.109 --> 00:27:51.720
Every time I… somebody hung up on me.
00:27:51.849 --> 00:27:55.509
I said, okay, 99 more. And then it was true.
00:27:55.690 --> 00:28:00.289
And as it became a better Closer, better salesman.
00:28:00.730 --> 00:28:02.828
It closed 2 out of 100.
00:28:03.519 --> 00:28:06.410
You're a superstar, you're close 3 out of 100.
00:28:07.130 --> 00:28:12.910
But the positive was, if you made enough calls, you finally hit The one in a hundredth.
00:28:13.279 --> 00:28:15.689
That was vulnerable to your pitch.
00:28:17.250 --> 00:28:18.479
That, that was it.
00:28:18.990 --> 00:28:20.569
Very significant.
00:28:21.339 --> 00:28:22.329
Learning.
00:28:22.950 --> 00:28:23.839
Right.
00:28:24.220 --> 00:28:28.549
And once I learned that, I never stopped calling. I just stopped calling.
00:28:28.910 --> 00:28:34.720
When I called 11 o'clock at night, I'm a person who answered.
00:28:34.950 --> 00:28:37.419
Started to tell him about some great soup.
00:28:37.549 --> 00:28:40.680
Stock that's gonna go way up, and etc.
00:28:41.049 --> 00:28:45.548
He said, you could have a hell of a lot of nerve calling at this hour of the night.
00:28:46.200 --> 00:28:48.199
But that's when I followed it.
00:28:48.460 --> 00:28:50.000
Decided to go home.
00:28:50.109 --> 00:28:51.130
I wonder…
00:28:51.150 --> 00:28:54.900
Saturday night to work, I went in Sunday all day to work.
00:28:55.079 --> 00:28:56.318
Never stop.
00:28:57.109 --> 00:29:05.230
And I became… after one year, I became… The second most successful salesman in the whole organization.
00:29:05.880 --> 00:29:07.289
Hmm. Even though…
00:29:07.859 --> 00:29:11.858
when I was first hired, I was hired.
00:29:12.059 --> 00:29:14.388
I didn't want to be a salesman, I did that.
00:29:14.940 --> 00:29:16.559
I want to be in management.
00:29:17.609 --> 00:29:19.460
A guy who's head of…
00:29:19.460 --> 00:29:24.410
Price Waterhouse became the managing director of Shields.
00:29:25.529 --> 00:29:28.249
They came to interview me at Hobbit.
00:29:29.019 --> 00:29:32.660
And he said, we never had a Jewish… Pardon.
00:29:33.950 --> 00:29:43.210
Or we're doing a lot of… financing for successful Jewish Startups, entrepreneurs.
00:29:43.730 --> 00:29:47.979
And we're doing a lot of business on 7th Avenue.
00:29:48.539 --> 00:29:55.519
The comment industry with… What… what would… We have a lot of wealthy Jewish clients.
00:29:56.099 --> 00:30:02.528
So, we're gonna hire you as the first Jewish, potentially lower.
00:30:02.809 --> 00:30:03.930
Management.
00:30:04.250 --> 00:30:06.670
I'll, to manage an office.
00:30:06.990 --> 00:30:10.089
on the… Let's terrible.
00:30:10.220 --> 00:30:11.339
Nearly.
00:30:11.549 --> 00:30:12.710
How about this.
00:30:12.940 --> 00:30:13.670
Wow.
00:30:14.109 --> 00:30:17.339
So that was… Breakthrough.
00:30:17.829 --> 00:30:23.169
And, I wound up… becoming a manager.
00:30:24.509 --> 00:30:27.939
But the guys I was managing were all brokers.
00:30:28.150 --> 00:30:30.440
I was in the main office on Wall Street.
00:30:31.000 --> 00:30:38.619
Mmm… They got paid a commission. Every time they made a sale, they knew that they got 50% of the commission.
00:30:39.750 --> 00:30:44.578
That they were making some of the… No, it says $100,000 a year.
00:30:44.910 --> 00:30:46.029
Big money.
00:30:46.779 --> 00:30:50.460
And I'm their manager, They're bringing me all their headaches.
00:30:50.660 --> 00:30:53.249
Clients that didn't pay for the stock.
00:30:53.960 --> 00:30:57.740
clients that… Renneged honest payment.
00:30:58.089 --> 00:31:00.028
Oh, I handled all the headaches.
00:31:00.930 --> 00:31:05.549
that, all the… all the rewards, and I… I was the manager.
00:31:06.029 --> 00:31:10.338
I went down to the senior partner, And I said.
00:31:10.900 --> 00:31:14.378
I don't want to be a manager. Yeah, demote me.
00:31:14.819 --> 00:31:16.549
I wanna do what they're doing.
00:31:17.230 --> 00:31:21.640
But they liked the idea of getting… Another salesman.
00:31:22.000 --> 00:31:23.460
But I said, okay.
00:31:24.150 --> 00:31:30.430
I went on to become, you know, The first year, I became… Second.
00:31:30.690 --> 00:31:32.369
most productive.
00:31:33.019 --> 00:31:36.279
broker in a whole organization had a baby.
00:31:36.539 --> 00:31:38.278
3,000 brokers.
00:31:38.480 --> 00:31:39.319
Wow.
00:31:39.509 --> 00:31:41.299
Just with that formulas.
00:31:41.509 --> 00:31:44.318
Never stopped calling, never kept calling.
00:31:44.509 --> 00:31:46.499
And I opened a lot of new accounts.
00:31:47.190 --> 00:31:47.869
Yeah.
00:31:48.119 --> 00:31:50.429
Little, little ideas.
00:31:50.599 --> 00:31:54.019
Running across… Lucky breaks.
00:31:54.910 --> 00:31:59.308
Where you learn one or two things, and it makes a difference in your life.
00:31:59.950 --> 00:32:05.609
Yeah. If you could attribute, right, so we have door knocking, where you had to knock on doors.
00:32:05.789 --> 00:32:15.269
Right? And then you had cold calling. 1 out of 100, they're gonna, they're gonna say yes to you, and if you're good, you might get 2, maybe 3, you're a rock star. Superstar, right?
00:32:16.039 --> 00:32:19.519
When it comes to, you know, that kind of drive.
00:32:19.710 --> 00:32:34.318
what would you attribute to your… your motivation to keep going, right? So you… you… you started making money, you became… got into management, but what… where do you think that internal drive to… to be the top, where does that come from?
00:32:34.720 --> 00:32:46.099
Well, it was easy, because… The way you were incentivized They don't have to go and ask for a raise or get a… A review after 6 months on how you're doing.
00:32:46.359 --> 00:32:52.759
Every time I made a sale, I could figure out what the commission was, if it was $100.
00:32:52.880 --> 00:32:54.659
I got $50.
00:32:54.890 --> 00:32:57.250
And the company got $50.
00:32:57.559 --> 00:32:58.500
Nice.
00:32:58.769 --> 00:33:04.689
I was ringing a register every time I… I was making a contact.
00:33:04.829 --> 00:33:06.170
And a closing.
00:33:07.369 --> 00:33:09.660
That was the strongest motivation.
00:33:10.210 --> 00:33:17.470
You know, I was ringing the cash register every time I had even the most modest success.
00:33:17.799 --> 00:33:18.460
Yeah.
00:33:18.460 --> 00:33:20.519
That was the first time in my life.
00:33:20.930 --> 00:33:22.650
I was being rewarded.
00:33:23.200 --> 00:33:27.900
Just for the work I was doing. I was… phenomenal.
00:33:28.589 --> 00:33:29.660
How does… what…
00:33:29.660 --> 00:33:30.029
What?
00:33:30.029 --> 00:33:48.180
What changes going from… what changes in your life, in your mindset, in how you show up to the world, and in relationships, when you go from being poor, destitute, knocking, you know, knocking doors, to becoming very successful and wealthy. What changes?
00:33:50.200 --> 00:33:58.838
Well, first of all, people don't realize that Wall Street is a very… Small community. Everybody knows everything.
00:33:59.490 --> 00:34:01.460
Listen knows this, it was true.
00:34:02.019 --> 00:34:04.608
Still is, if you're a superstar.
00:34:04.910 --> 00:34:07.630
They're recruiting you from every organization.
00:34:08.590 --> 00:34:13.349
So… I became well-known, people recruited me.
00:34:13.880 --> 00:34:17.059
I was offered a partnership with another firm.
00:34:17.849 --> 00:34:20.858
Goldman Sachs tried to interview me.
00:34:21.039 --> 00:34:23.969
I was too insecure to even go for the interview.
00:34:24.630 --> 00:34:31.480
Because I didn't think I was… of the caliper… Person that they wanted.
00:34:32.789 --> 00:34:38.429
But it changed my life, because… I got some kind of… Recognition.
00:34:38.630 --> 00:34:41.590
a bang… worthwhile.
00:34:42.539 --> 00:34:48.568
Before, I wasn't even… able to get an interview for a job with most studies.
00:34:50.190 --> 00:34:52.769
And then once I started to raise money.
00:34:53.849 --> 00:34:55.619
I was able to raise money.
00:34:55.920 --> 00:34:57.148
for companies.
00:34:57.630 --> 00:35:03.179
where I could get… Control of the largest number of shares.
00:35:03.460 --> 00:35:05.730
That voted in that company.
00:35:06.599 --> 00:35:10.059
to get, equity interests.
00:35:11.340 --> 00:35:21.300
and, you know, companies that were already outlay… Public. Public.
00:35:21.969 --> 00:35:22.869
Okay.
00:35:22.869 --> 00:35:26.949
That got my career into investment banking.
00:35:27.690 --> 00:35:29.559
And then I started raising money.
00:35:29.909 --> 00:35:38.960
for companies, because once I had clients, I told them, by this… You know, I love the company, I love the management.
00:35:39.900 --> 00:35:44.030
It's not selling at 10, I think. It'll deal better.
00:35:44.150 --> 00:35:52.150
100… They usually… Hung up on my… I said, you know, let's buy 10,000 shares.
00:35:52.500 --> 00:35:54.690
Just to get rid of me, they said, huh?
00:35:55.199 --> 00:35:57.838
Alright, I hope you don't have the money.
00:35:58.289 --> 00:36:02.150
Buy a 10,000 shares. But buy me 200 shares.
00:36:02.150 --> 00:36:02.940
Yeah.
00:36:03.070 --> 00:36:05.329
I made a… a clothing.
00:36:05.800 --> 00:36:10.668
And, one little success.
00:36:10.969 --> 00:36:13.239
Led to another success.
00:36:13.280 --> 00:36:15.010
Yeah. I ended up being a…
00:36:15.139 --> 00:36:21.809
top broker, I wound up… Able to do… investment banking, because I could raise money.
00:36:22.139 --> 00:36:25.989
The companies, instead of just… Buying stocks.
00:36:26.239 --> 00:36:28.719
And the companies that were already out there.
00:36:29.449 --> 00:36:39.838
Yeah. What are some of the things you learned from, you know, so we got door knocking, which is one skill, we got cold calling another, but raising capital, asking people for money.
00:36:40.050 --> 00:36:45.679
is a, a different… it's like a level-up skill set. It's all sales.
00:36:46.000 --> 00:36:46.630
Yeah.
00:36:46.630 --> 00:37:05.400
for the world of investor relations, I'm an investment banker myself, real estate broker, but in the, you know, in the world of investment banking, it's very different than knocking on a door, you know, but kind of give us some ideas on Some… some things you learned along the way of… You know, being good at raising capital.
00:37:05.579 --> 00:37:10.730
since I was already selling Shares and companies.
00:37:10.880 --> 00:37:12.300
that were trading.
00:37:12.739 --> 00:37:14.958
I could switch them to shares.
00:37:15.210 --> 00:37:19.139
That would be trading, and tell them an exciting story.
00:37:19.340 --> 00:37:21.590
That this guy who's running it.
00:37:21.710 --> 00:37:25.289
There's a killer, you know, he's got… he's hungry.
00:37:25.510 --> 00:37:31.940
is… You know, I put a bet on the jockey. I bet on guys that were neurotic, like me.
00:37:32.500 --> 00:37:35.280
And desperate to be successful.
00:37:36.159 --> 00:37:46.769
If a guy didn't… Some people came… gave me… brilliant business plans. I wouldn't see anybody Unless I had a… Well written.
00:37:47.179 --> 00:37:51.398
business plan. But some of them were smart enough to hire somebody.
00:37:51.670 --> 00:37:53.699
And do a great business plan.
00:37:53.929 --> 00:37:55.759
But when I met them in person.
00:37:56.269 --> 00:38:02.150
I said, there's no way this guy's gonna… Now, I'll tell you a story. Within one week.
00:38:02.630 --> 00:38:07.170
I interviewed… interviewed two different people.
00:38:08.090 --> 00:38:11.139
One of them was… on the company.
00:38:12.559 --> 00:38:14.010
A number of years.
00:38:14.489 --> 00:38:17.148
He was doing about $10 million in sales.
00:38:17.269 --> 00:38:19.219
Making a million…
00:38:19.949 --> 00:38:21.329
Half a million.
00:38:21.659 --> 00:38:24.509
It was in the half, but going nowhere.
00:38:25.059 --> 00:38:28.869
I said, what's wrong? You were doing good for a while.
00:38:29.150 --> 00:38:31.489
And then suddenly it started going.
00:38:31.690 --> 00:38:36.429
sideways, what happened. It says, oh, there's a story with that.
00:38:36.880 --> 00:38:39.909
My wife got so angry, I was working so hard.
00:38:40.380 --> 00:38:45.900
So she said, if you don't stop, I'm… I'm leaving you.
00:38:46.150 --> 00:38:46.719
Whew.
00:38:47.000 --> 00:38:50.958
Botted to… And what time on my marriage.
00:38:51.659 --> 00:38:53.570
And I saved my marriage here.
00:38:54.500 --> 00:39:00.760
But my records started to… go up and down. I didn't devote my total.
00:39:01.750 --> 00:39:03.190
Energy to that.
00:39:03.340 --> 00:39:06.420
That same week, another Kai came with me.
00:39:06.840 --> 00:39:08.730
Just with a business plan.
00:39:09.019 --> 00:39:10.768
But it tells me a story.
00:39:11.059 --> 00:39:13.659
He works day and night, 7 days a week.
00:39:13.969 --> 00:39:16.130
You work so hard, so hard.
00:39:16.610 --> 00:39:18.860
Saturday night, Sunday night.00:39:19.019 --> 00:39:22.340
One Saturday night, his wife came up, Amazing.00:39:22.840 --> 00:39:32.498
It says… And… Gotta cut this out. Either me or… or your business.00:39:33.059 --> 00:39:35.760
I'm not staying with this kind of relationship.00:39:36.599 --> 00:39:38.530
I… I divorced her.00:39:38.530 --> 00:39:39.980
Oh, Jesus!00:39:40.889 --> 00:39:43.298
That's… that's my kind of guy.00:39:43.420 --> 00:39:45.498
Because my priorities.00:39:46.300 --> 00:39:48.349
His marriage doesn't matter.00:39:48.590 --> 00:39:51.478
I funded him, even though it was a total startup.00:39:52.099 --> 00:39:53.570
Wow.00:39:53.570 --> 00:39:56.519
It was Sherwin… show in Selickstone.00:39:57.010 --> 00:40:01.039
And it started with nothing, just an idea.00:40:01.159 --> 00:40:04.630
To do something in the… In the phone business.00:40:05.179 --> 00:40:10.628
Matter of fact, I came back home and told my wife, This guy has an idea.00:40:11.210 --> 00:40:14.550
or a phone, It says, he writes from us.00:40:15.539 --> 00:40:21.690
A house… In Philadelphia, To somewhere in the middle of nowhere.00:40:22.329 --> 00:40:25.108
And had a person at the other end.00:40:25.539 --> 00:40:26.969
Answer the phone.00:40:27.960 --> 00:40:29.889
And she said, that's terrific.00:40:30.510 --> 00:40:33.179
But did he show you the demonstration?00:40:34.070 --> 00:40:36.380
He says, no, so how do you know he really did?00:40:36.510 --> 00:40:37.440
The truth.00:40:38.000 --> 00:40:39.628
Said I believed him, you know.00:40:40.510 --> 00:40:47.199
And it has some… stuff that doesn't replace Apple.00:40:48.110 --> 00:40:51.280
What was an addendum, an important addendum?00:40:51.739 --> 00:40:56.478
And his company… Which the… Billion dollar valuation.00:40:56.630 --> 00:40:57.610
Wow.00:40:58.460 --> 00:41:01.219
And then he started another company afterwards.00:41:01.869 --> 00:41:04.548
It's likewise reached over a billion dollars.00:41:05.090 --> 00:41:06.378
They was driven.00:41:06.829 --> 00:41:10.898
Yeah, he was neurotic, right? He was all in, pot committed.00:41:11.550 --> 00:41:12.880
Unbelievable.00:41:13.260 --> 00:41:23.809
So, let me ask you, we've got a little bit of time left, at least for today, Morty. I love your stories, and I love spending time with you. It's really good to connect with you.00:41:23.809 --> 00:41:25.449
Let's do it again.00:41:25.449 --> 00:41:26.588
I think we should.00:41:26.590 --> 00:41:29.559
whenever Christopher's available, available.00:41:29.559 --> 00:41:44.699
Oh, he's still in the room, he's sending me messages right now. But there's another thing that I want to make sure that I share with the community here, is you wrote a book Called Happiness Guaranteed, or Your Misery Back.00:41:44.840 --> 00:41:46.668
I want to know about your book.00:41:46.780 --> 00:41:53.989
why you wrote it, kind of talk to us about that, because I think the community here would love to celebrate that with you.00:41:54.719 --> 00:41:59.039
Yeah, for those that have I'm watching this on the screen.00:41:59.539 --> 00:42:01.119
There's a copy of the book.00:42:01.360 --> 00:42:04.509
Oh, you gotta hold it up, I can't see. Hold it up in front of the camera for us.00:42:04.920 --> 00:42:11.199
Happiness guaranteed, or tell us what… what is this? How to be happy… what's a bottom say? No matter what.00:42:11.750 --> 00:42:12.659
Alright.00:42:12.900 --> 00:42:16.269
And it says, how to be happy no matter what.00:42:16.489 --> 00:42:18.119
That's a tough time.00:42:18.949 --> 00:42:23.639
So… When I was young, I was depressed.00:42:24.099 --> 00:42:25.000
A lot.00:42:26.099 --> 00:42:28.920
And… I couldn't overcome that.00:42:29.460 --> 00:42:31.668
Sense of depression always.00:42:32.260 --> 00:42:40.358
One day, I picked up a… a book… by a famous Catholic minister.00:42:41.190 --> 00:42:43.969
who had a church in Midtown Manhattan.00:42:45.420 --> 00:42:48.420
And it was called The Power of Positive Thinking.00:42:50.300 --> 00:42:56.309
And I read that book, And it… Bought me to think positively.00:42:56.630 --> 00:43:03.420
no matter what, He said, if you think positive, Positive things happen.00:43:04.050 --> 00:43:05.509
So I did that.00:43:05.860 --> 00:43:07.608
And it changed my life.00:43:07.969 --> 00:43:12.088
And then I also… Followed a great writer at the time.00:43:12.650 --> 00:43:14.099
Dale Carnegie.00:43:14.949 --> 00:43:17.858
wrote a book that I had read earlier.00:43:18.289 --> 00:43:23.909
How to Win Friends and… and Influence People.00:43:23.909 --> 00:43:24.750
Yeah, it's great.00:43:24.750 --> 00:43:28.530
He wrote a book, How to Stop Worrying and Start Living.00:43:28.940 --> 00:43:37.730
So between those two books, Bishop Sheen… and Dale Carnegie, I changed my attitude.00:43:38.280 --> 00:43:40.510
And I started to think positively.00:43:40.760 --> 00:43:44.829
And as I thought positive, It really worked out.00:43:45.469 --> 00:43:45.949
Yeah.00:43:45.949 --> 00:43:47.920
To think positively.00:43:48.059 --> 00:43:49.750
Positive things happen.00:43:50.849 --> 00:43:51.909
I love that.00:43:52.219 --> 00:43:54.250
So then why didn't want to work for me?00:43:54.610 --> 00:43:59.269
I said, I should try to help the rest of the world.00:43:59.920 --> 00:44:01.489
Do the same thing.00:44:02.199 --> 00:44:09.239
You know, learn to think positive, learn to… Stop worrying, stop… stop living.00:44:09.619 --> 00:44:13.880
And I followed all of the… Famous.00:44:15.070 --> 00:44:19.269
Brilliant writers over the philosophers over the years.00:44:19.690 --> 00:44:24.389
of biblical scholars, From biblical wisdom.00:44:26.610 --> 00:44:35.420
the Greeks, from Aristotle, and Plato, Plato, and Freud, and… And they all had such brilliant ideas.00:44:35.670 --> 00:44:40.559
on how to… become happier.00:44:41.000 --> 00:44:43.280
Out of control your mind.00:44:43.570 --> 00:44:45.829
The whole idea is that you're in charge.00:44:46.280 --> 00:44:47.648
We let unwind.00:44:47.849 --> 00:44:49.219
Get a stamp.00:44:50.210 --> 00:44:51.070
you know.00:44:51.300 --> 00:44:54.869
If we go to a vacation, we have a miserable time.00:44:55.559 --> 00:44:57.599
We'll never go back to that place.00:44:58.570 --> 00:45:04.818
But with our troubles, For some reason, I might always dare to exist back.00:45:05.230 --> 00:45:08.548
The difficulties we had, the unfortunate.00:45:08.889 --> 00:45:09.510
Yeah.00:45:09.940 --> 00:45:17.989
Burns we had, the failures we had, So… That's… Absolutely.00:45:18.409 --> 00:45:19.998
The worst thing you could do.00:45:20.519 --> 00:45:23.719
Because it depresses you, makes it feel like a failure.00:45:24.360 --> 00:45:26.028
So I wrote this book.00:45:26.519 --> 00:45:31.478
And I kept gathering All of the wisdom of all this.00:45:31.929 --> 00:45:34.949
Fabulous people over the centuries.00:45:35.300 --> 00:45:41.630
Unbelievable, it was. Matter of fact, I wrote a 12… Yes, and I was still writing it.00:45:41.809 --> 00:45:47.090
But I was still gathering Still more information.00:45:47.369 --> 00:45:52.460
Yeah. And one time, my daughter, who's written 4 or 5 bucks.00:45:52.989 --> 00:45:54.889
And it's very bright.00:45:55.130 --> 00:45:58.400
She read it, and she said, Daddy, why don't you publish it?00:45:58.570 --> 00:46:00.409
I read it, it's fabulous.00:46:00.570 --> 00:46:04.449
And I said, well, there's a lot more I think I could get.00:46:04.929 --> 00:46:06.150
attitude.00:46:06.469 --> 00:46:09.070
And she says, publish it, it's fabulous.00:46:09.659 --> 00:46:19.400
So then, I said, well, a couple more years. Anyway, she jumped on and started to help me finish it. That's why I made her co-author.00:46:19.940 --> 00:46:23.550
And in 2 years, I finally did publish it.00:46:24.099 --> 00:46:27.769
And I get so much… In a way of compliments.00:46:28.190 --> 00:46:34.250
and appreciation… And… Everybody that's ever written to me.00:46:34.599 --> 00:46:37.300
Tell me how beneficial it's been to them.00:46:38.110 --> 00:46:43.530
Unbelievable. So much so, that I offer people now.00:46:44.239 --> 00:46:45.809
They buy the book.00:46:46.420 --> 00:46:48.030
But I get it as a gift.00:46:48.639 --> 00:46:55.650
And they don't… Still, they benefited? Was it… Most verifiable.00:46:56.710 --> 00:46:59.699
Gift or present that puts themselves?00:47:00.210 --> 00:47:01.730
I will send them back.00:47:02.610 --> 00:47:08.929
Not only that purchase price, But if they send me the purchase slip, I will send them back.00:47:09.519 --> 00:47:11.440
Double what they paid.00:47:12.170 --> 00:47:14.750
That in itself should make them happy.00:47:15.440 --> 00:47:19.340
Because they got a good preface right away, and they can keep the book.00:47:19.530 --> 00:47:20.469
Alright.00:47:20.980 --> 00:47:23.369
Hold on a second, I'm a deal guy.00:47:23.369 --> 00:47:26.119
I've never got… I've never gotten one.00:47:26.829 --> 00:47:27.760
Thank you.00:47:28.519 --> 00:47:32.099
So I'm a deal guy, so I could go in and buy a thousand books right now.00:47:32.099 --> 00:47:34.608
That's the one thing I worry about.00:47:34.710 --> 00:47:36.949
I get a thousand books, you give me.00:47:36.949 --> 00:47:41.489
If you buy one book, not a thousand.00:47:41.489 --> 00:47:42.269
Okay.00:47:42.269 --> 00:47:44.389
Not even… not even 30.00:47:44.670 --> 00:47:47.568
The double your money.00:47:47.670 --> 00:47:50.568
Keep 30 books, we sell the books.00:47:50.789 --> 00:47:51.659
And then…00:47:52.369 --> 00:47:53.409
I think we think a.00:47:53.409 --> 00:47:57.889
You're a businessman, right? You'll figure it out right away.00:47:57.889 --> 00:48:03.710
Yeah. Morty, what a pleasure. I'm gonna go buy your book right now. Can I buy it on Amazon? Where can people go to get it?00:48:04.590 --> 00:48:07.978
Amazon… Anywhere, I guess.00:48:08.280 --> 00:48:09.739
I never checked the gun.00:48:10.000 --> 00:48:15.590
Yeah. Most… mostly I get letters from people as gifts.00:48:15.969 --> 00:48:16.610
Yeah.00:48:17.059 --> 00:48:24.579
And they got it as gifts from one guy as a… CEO of a major corporation.00:48:24.880 --> 00:48:29.380
He says I send out thousands of books, of gifts every year.00:48:29.840 --> 00:48:33.438
And if I get any kind of recognition.00:48:33.820 --> 00:48:37.059
A week later, two weeks later, they send me a thank you note.00:48:37.409 --> 00:48:39.128
The glyph. Gift.00:48:39.280 --> 00:48:44.539
In this case, Months later, They're sending me thank you notes.00:48:44.960 --> 00:48:46.898
How helpful it's been to them.00:48:47.159 --> 00:48:49.739
One guy says he reads it all the time.00:48:49.880 --> 00:48:51.719
And then he ran to us.00:48:52.070 --> 00:49:05.548
television, and his wife and two kids were watching their favorite program, and he turned it off, and they start screaming at him. What are your dad? What are you doing? It's our favorite. He says, I'll record it.00:49:05.769 --> 00:49:08.019
And he read them one page.00:49:08.269 --> 00:49:15.539
And ever since then, They love it, they read a one-page… Together, as a family, all the time.00:49:16.099 --> 00:49:17.110
Who knows?00:49:17.539 --> 00:49:24.340
It was very flattering, and he said it turned out to be… The most popular book he ever sent.00:49:25.280 --> 00:49:25.838
I like that.00:49:25.840 --> 00:49:28.039
There's a gift, not book.00:49:28.630 --> 00:49:31.079
Popular gift you ever sent?00:49:31.880 --> 00:49:34.429
Months later, people are still selling.00:49:35.030 --> 00:49:39.068
Whereas in other cases, Right after the first timer.00:49:39.539 --> 00:49:41.579
They might send them a thank you note.00:49:41.889 --> 00:49:46.409
I'd hardly ever follow on through any time during the year.00:49:48.590 --> 00:50:06.110
Well, Mr. Morty, I am buying the book right this minute. I'm so grateful for our time together. What we'll do is we'll include the link of the book in the show notes, so as people are listening in, they can click on and learn more about you, but also buy the book.00:50:06.250 --> 00:50:08.769
I'd love to have you back again.00:50:09.059 --> 00:50:15.219
They're very brilliant, and bring Chris to first. As long as he's available, we could do it again.00:50:15.460 --> 00:50:33.239
Yeah. Well, you hang in right there one second. We're gonna stop recording, but let me say goodbye to all the people in the audience, and then you and I will catch up. So, fellow dealmakers, fellow investor relations professional, fellow, you know, enthusiasts of podcasts and learning, and lifelong learners, like Mr. Morty.00:50:33.239 --> 00:50:43.648
I want you to do this. I want you to go check out the book, but send Mr. Morty a note. Let him know that you appreciate him investing his time and sharing his wisdom and his life story with you guys.00:50:43.650 --> 00:51:03.278
And that's a… that's a personal ask from me to you. And if you like these kind of episodes, we encourage you to, you know, reach out to us. Let us know what kind of topics you want to discuss, and what kind of things you want to learn more about. All that information could be on the website and in these show notes. But until then, we'll talk to you all on the next episode. Cheers, everyone.00:51:03.579 --> 00:51:04.820
Thank you, Joshua.
