“He is back in the ocean. Happy hunting.”
Why it's great
It brands a rival as prey with two cold, breezy words.
Register
Informal
Use it yourself
Now that he is back in the ocean, we move fast.
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00:00 / 04:57
Jordan's Deposition: I Do Not Recall, Explained
The Wolf of Wall Street · 2013
Chapter 25 of 30 · 4'57"
Everyone at Stratton Oakmont faces the same questions, and everyone gives the same answer: "I do not recall that." On the surface it's a wall of careful non-answers; underneath, it's the firm's whole strategy - deny everything, admit nothing, and wait for the government to run out of patience.
Key moments
Start here, then watch the full scene- 0:22–1:12
The SEC News and Brad's Death
50s - 1:57–3:14
The I Do Not Recall Depositions
77s - 4:29–4:44
❝ Monologue · 6 lines Jordan's order to crush the stock
Each line raises the stakes from an order to an open threat.
14s
Jordan's Deposition: I Do Not Recall, explained
What happens
This chapter moves from Jordan's TV interview, where a commentator says he "welched on his deal with the SEC," into the depositions that follow. Stratton employees are questioned one by one and answer almost everything with "I do not recall." Later, on a yacht in Italy, a call about Steve Madden selling shares sends Donnie into a rage.
What's really going on
The joke of the deposition scenes is that the most powerful firm on Wall Street has exactly one defense: forget. Jordan's men don't plead ignorance because they're innocent; they do it because there is no legal risk in saying "I do not recall that." The film undercuts them constantly. One witness can't remember a single name but suddenly cares whether the lawyer will finish his Danish. Another turns a money question into a question about his hair. The point is that these are practiced performances, and the interrogators know it. When Jordan later narrates "Nobody could arrest us and nobody could prove I was still running Stratton from a yacht," he sounds untouchable - but the subpoenas, the depositions, and the panicked phone call about Steve Madden are all the machinery that will eventually undo him.
Key lines & what they mean
- “He is back in the ocean. Happy hunting.”
- A commentator's mocking sign-off: with his SEC deal broken, Jordan is back where the predators swim, and the hunters are welcome to go after him.
- “I do not recall that.”
- The catch-all denial every Stratton employee leans on during the depositions - a way to refuse an answer without technically lying under oath.
- “Nobody could arrest us and nobody could prove I was still running Stratton from a yacht.”
- Jordan's narration claims the move abroad puts him beyond reach, since no one can arrest him or prove he still runs the firm.
- “Jordan Belfort just welched on his deal with the SEC.”
- The news that Jordan broke his settlement with the SEC, which is treated as reopening the hunt for him.
Theme
- Corruption — A firm under investigation answers every question with the same denial, showing how organized white-collar crime protects itself.
- Justice — Subpoenas and depositions close in on Jordan, and the pressure finally reaches his yacht in Italy.
What this chapter teaches
Teaching points
Review right after watchingMy level2/6
A1–C2 is the CEFR scale. Cards above the level you pick fade, and playback will not auto-pause on them.
Language points
Click a card to jump to its moment in the videoGolden lines
A great line in its own right — why and how to use it“I do not recall that.”
Why it's great
Five flat words turn a memory into a wall he can hide behind.
Register
Formal
Use it yourself
I do not recall that meeting at all.
“Nobody could arrest us and nobody could prove I was still running Stratton from a yacht.”
Why it's great
Twin nobodies build a fortress of impunity the story will soon crack.
Register
Informal
Use it yourself
Nobody could see us and nobody could stop us.
“Jordan Belfort just welched on his deal with the SEC.”
Why it's great
The verb welch pins the whole accusation on one slang word.
Register
Informal
Use it yourself
He welched on our agreement at the last minute.
Monologue
One character carrying the scene — shadow the whole passage❝ Jordan's order to crush the stock
I want you to get all our clients on the phone right now and have them start selling Steve Madden. We're gonna drive that fucking price down! Do you hear me? Shut the fuck up! This is your fucking friend from high school. If that little fucking prick thinks he can fuck with me, we'll turn his company into a penny stock! You hear me?
Each line raises the stakes from an order to an open threat.
Up next · 26batten down the hatchesThe scene: Jordan Sails Into a StormTakeaways
What you walk away with- Stonewalling can sound polite when the words stay flat.
- Denial is the firm's real product in this scene.
- A rumor of betrayal is enough to trigger a vendetta.
- Jordan turns panic into a command within seconds.
People also search
Questions, then the linesWhy does everyone say "I do not recall" instead of denying the crimes?
Saying you can't remember is safer than lying under oath. It stalls the investigators, keeps answers vague, and avoids perjury charges, so "I do not recall that" becomes the firm's default reply.
Who is the commentator saying Happy hunting?
The line is spoken like a television or radio commentator reacting to the news that Jordan welched on his SEC deal - his way of saying the authorities are free to chase Jordan again.
Why does Donnie tear up the subpoena and curse the government?
Donnie treats the subpoena as a personal insult and tears it up in front of the office. It shows how little the firm fears the government early on, before the depositions wear everyone down.
What happens when Steve Madden starts selling shares?
Jordan and Donnie get a call that Steve Madden is unloading huge blocks of his own stock, which threatens the value they've built around it. Jordan orders clients to sell too, to drive the price down in revenge.
Why do Jordan and Donnie go to Italy?
They were advised not to leave the country, so they go to Italy anyway and try to run Stratton from a yacht, giving orders to their deputy. Jordan claims it makes them safer because they can't be arrested or tied to the firm.