MovieChat Forums > Trading Places (1983) Discussion > Valentine's sudden 'knowledge'

Valentine's sudden 'knowledge'


I've never quite understood how Valentine was able to adapt so quickly to the job and give investment advice pretty much right away when he had zero experience.

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I think what the film was trying to portray is that there is very little to what stockbrokers actually do; it is socially legitimized, super-highly paid con artistry. And that the only real difference between Valentine and the Dukes is the genetic lottery of where they were born and to which parents.

Valentine quickly figures out what the Dukes do and how they appease their customers, and he adapts immediately.

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Duke 1: They place their orders with us and we buy or sell their gold for them.

Duke 2: Tell him the good part.

Duke 1: The good part is that no matter whether our clients make money, or lose money, Duke & Duke get the commissions.

Duke 2: Well, what do you think, Valentine?

Valentine: Sounds to me like you guys are a couple of bookies.

Duke 1: I told you he'd understand.


Ha ha, made you look.

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I believe it was just horrible luck for the Duke brothers. They contemplated if it was in the blood or the environment. Its an age old question but I think it was shown it was based upon the individual. Winthorp was brilliant and not because he was pampered. Valentine had street smarts but lacked the opportunity. Once exposed to this new world, he picked up on it quickly as he was a judge of character and human emotion.

"Mankind cannot solve the world's problems. Mankind is the problem."

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And Winthorp clearly lacked any street smarts, having grown up in a pampered world.

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Interestingly, though they didn't dwell on it as they did with Valentine, Winthorpe managed to do the reverse...how many pampered Wall Street kids from rich families could quickly and easily track down all the drugs (and the gun) that Winthorpe brought into Valentine's office? He picked himself up some street smarts along the way, because I doubt Ophelia acquired them for him.

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The whole point of the story is that someone without a privileged upbringing could do Winthorpe's job. When Winthorpe queries huge payments being made to unsalaried persons he accepts the Duke's remark that they can't get around "the old minimum wage". If it was Winthorpe's job to deliver payroll he should've quickly asked for more substance than just an off-the-cuff remark. Abuses like that can earn you jail time, just for not querying them. Winthorpe was stupid, cosseted and arrogant enough to accept whatever he was told if the words came from the right people.

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"We all go a little mad sometimes."

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Winthorpe's job was Managing Director. More or less, he was the CFO of Duke & Duke, so he had more to do with the day-to-day operations of the company. The Dukes probably had enough financial advisors on staff to handle their clients; Winthorpe invested as well and basically did the legwork for the Dukes directly. He used his charts to makes the Dukes more money at the beginning, while Valentine used his street smarts to prevent the Dukes from losing a lot. Both were capable for different reasons.



---
"Hello boys! I'm BAAACCCKKK!!!!"--Russell Casse, Independence Day

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Actually, it was Winthorpe who made the "minimum wage" remark when one of the Dukes complained about how much they were paying their employees.

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Winthorpe probably consulted Ophelia's "neighbors" as to where to purchase the drugs and gun.

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Remember Billy's first day at the brokerage when the Duke brothers are talking to him like he's an idiot explaining how commodities trading works? Murphy breaks the 4th wall for just a second, and at some point says "Sounds to me like y'all are a couple of bookies." I always thought Billy was a quick study because he'd seen the streetwise version of what made the Duke brothers so rich. So they wore handmade suits and such--they were just hustlers too.

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There's not really anything to learn.

The Dukes made their money through insider trading. They weren't doing it through knowledge or skill, they were doing it through connections, something Valentine could also do if he had the same connections.

Anyone can win the game if it's rigged in your favor.

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I wouldn't say they made their money exclusively through insider trading. They come from old money, and had lived that type of business life their entire lives.

They certainly had advantages, but it wouldn't have been 100% through insider trading.

Even back then that was a big no-no, so they couldn't have relied upon that all of the time.

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It wasn't illegal. In fact, a law against insider trading wasn't passed until 2010, called ironically the 'Eddie Murphy Law'.

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In the US, there have been laws against it since 1934.

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Stocks, yes.

Not commodities or futures. Entirely different branch of laws.

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But then that means that you think they made all of their money through insider trading on commodities and futures.

All I'm saying is that yes, what they did was wrong even if it wasn't against the law. And, I agree they are unscrupulous. But, I doubt that is the only way they made their millions.

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Considering they wasted it all on orange juice at the end, wiping out their own personal fortunes, I would say yes.

(of course we know real rich people never jeopardize their wealth like that, but it's only a movie)

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I definitely get that it is a movie - hope I wasn't coming across that it was anything other than that.

I chalked it up to them betting it all on "a sure thing."

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What's the #1 rule in investing? Never use your own money.

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