In this blog post, I’ll discuss why we should question common sense in investing and how to shift our perspective, using the fountain pen episode from the movie as an example.

Why should we break common sense?

Have you ever seen the movie ‘The Wolf of Wall Street’?
Based on the life of real-life figure Jordan Belfort, this film depicts how the protagonist—gifted with dazzling eloquence, striking looks, and a brilliant mind—rises to become Wall Street’s top billionaire through stock manipulation.
Of course, this is not intended to justify or encourage the illegal scams portrayed in the film. However, the ‘pen episode’ that appears twice in the film delivers a crucial lesson we must remember to succeed in the market—namely, ‘you must break the rules’—in a very intuitive and memorable way.

First Pen Episode: “Try to sell me this pen”

As the film nears its end, Jordan Belfort takes the stage to deliver a speech.
He pulls a fountain pen from his coat pocket, approaches the audience, bends at the waist, and says:

“Try selling me this pen.”

The audience members each describe the pen in their own way.

“This is a truly excellent pen. It’s essential for professionals.“
”This fountain pen is an excellent tool for meticulously recording your daily life.“
”It’s really convenient. I personally love this fountain pen too.”

In a way, their answers sound safe and textbook. They emphasize that it’s a ‘good fountain pen,’ appealing to professionalism, practicality, and personal taste. At first glance, they seem persuasive and even convey affection for the product. But upon closer reflection, these explanations are missing one crucial element.
That element is a compelling reason for ‘why you must buy this fountain pen right now’ – the point that stimulates ‘demand’.
The audience’s explanations all come from the consumer’s perspective, not the seller’s—closer to a ‘user review’ from someone who’s tried the product. Their explanations are kind and logical, but they fail to spark the actual desire to buy. In other words, they described the product within the shared common knowledge of the audience, without delving deeply into the other person’s needs or context.

The Second Fountain Pen Episode: “I’ll Sell You This Pen”

Another scene in the film presents a completely different situation.
Inside a noisy store. Jordan Belfort pulls a fountain pen from his coat pocket and hands it to the clerk.

“Try selling this to me.”

The clerk responds with a bored expression.

“Just sign here on this paper.”

When Jordan says he doesn’t have a pen, the clerk nonchalantly hands the fountain pen back and says:

“Then I’ll sell this pen to you.”

This scene perfectly contrasts the earlier sales pitch scene.
While the audience focused on explaining the product, this clerk focuses on the other person’s situation, identifies the problem, and offers a solution.
He doesn’t try to explain ‘what kind of product the fountain pen is’. Instead, he captures ‘the fact that this person needs a fountain pen right now’ and responds immediately to that need. This is the crucial point.

A Perspective Shift That Breaks Conventional Wisdom: From Supply to Demand

The lesson from these two episodes is clear.
In the first episode, the audience tried to ‘explain well’ the fountain pen somehow. That is, they tried to supply a good product from the supplier’s perspective.
What they said all seemed logical and persuasive, but it didn’t induce a purchase. Because purchase is an act that happens only when demand is activated first.
In contrast, the salesperson in the second episode approaches from the demand perspective.
He creates the problem that the customer ‘has no tool to sign right now’. Then, by presenting the fountain pen as the solution to that exact problem, he drives actual purchasing behavior.
The crucial point here isn’t how good this fountain pen is, but that ‘the moment you need this pen’ is right now.
Economically speaking, this difference stems from distinguishing supply-centric thinking from demand-centric thinking.
Suppliers believe “if you build it, they will come,” but in the real market, the law that “a product must be available precisely when someone absolutely needs it” holds much stronger sway.
Therefore, sales ultimately involve shattering the consumer’s common sense.

Investing is no different: You must defy common sense to succeed

Surprisingly, this principle applies equally to investing.
Many people invest in familiar ways. They invest in stocks everyone says are good and allocate assets as recommended by mass media.
But such approaches always remain confined to ‘popular common sense’.
When that common sense fails, or when the market moves contrary to expectations, investors panic and suffer losses.
Truly successful investors don’t think like everyone else.
They spot demand others miss, or discover value when everyone else has turned away.
In other words, they don’t seek ‘good assets’ from a supply perspective; they anticipate ‘assets that will become necessary’ based on shifts in demand.
Ultimately, those who generate real returns in the market are the ones who question conventional wisdom and think for themselves.

In closing: What perspective do you use to view the market?

The fountain pen episode in the film carries symbolic meaning beyond mere staging.
We view the world daily through the same lens, invest by the same standards, and make choices in the same way.
Yet the market is constantly changing, and people’s actions are unpredictable.
Now we must ask:
Is your current investment approach truly born from your own perspective, or have you been moving based on someone else’s words, the crowd’s flow, or mere common sense?
Questioning common sense and viewing the market with fresh eyes.
That is the first ‘rule’ to break in investing.
And that is the true starting point.