(FORTUNE Magazine) – Would a third viewing of Wall Street have helped? Or would the present writer still be sitting there glumly clutching a tape recorder in the 86th Street East Twin, trying vainly to make sense of this latest hit production (Variety: ''Bankable'') from Oliver Stone, wherein greed, insider trading, and even lunch (''Lunch is for wimps!'') are excoriated while the non sequiturs roll? Is the world of equity finance not mysterious enough without dialogue like ''Keep on buying -- dilute the son of a bitch''? For openers, why would Boeskyesque high roller Gordon Gekko (played by Michael Douglas) instantly accept struggling young broker Bud Fox (played by Charlie Sheen) as his protege? Are we really supposed to believe that after trying for 59 straight days to get an interview with Gekko, Bud finally succeeds because he remembers that this particular day is the tycoon's birthday? And that he knows this because he's read it in FORTUNE? (After 37.524 years on this magazine, why is your correspondent unable to think of a single FORTUNE profile that mentions the subject's birthday?) Is it credible that after Fox gets in for this chance-of-a-lifetime interview, Gekko fails to instantly throw him out after his opening gambit, which is to mumble something about the chart action on a stock he likes? Or that Gekko was next bowled over by Bud's tip on Bluestar Airlines? Or that Bud's father, a union representative at the airline, had received inside information from the company comptroller? Above all, can we make it through this item without composing a declarative sentence? And, oh yes, how could Oliver create a movie about illegal insider trading without bothering to find out what it is? Or if he ever did, how could he have created that neo-Faustian scene wherein Bud is agonizing over the allegedly nonkosher proposal that he keep track of one of Gekko's rivals in the market (''I want to know where he goes, what he sees'')? Is there supposed to be a law against following stock market big shots around town to see what they're up to? Were the folks in the East Twin supposed not to have heard of the U.S. Supreme Court's ruling in Dirks v. SEC, in the wake of which the people became free to trade on material nonpublic information provided that they owed no fiduciary duty to the companies involved? And at the very end of the movie, where for some reason Gekko and Fox have a final meeting in Central Park, and Gordon sends Bud flying with a right cross, and then it turns out that Bud was really there just to tape their conversation for the SEC, what sort of dialogue about insider trading was the commission hoping for? And why is their gumshoe acting so pleased when the tape shows Gekko saying: ''You double- crossed me -- I taught you the value of information''? This is culpable stuff? And what is one to make of the Hal Holbrook character, who is a senior statesman or something at the brokerage house where young Bud Fox works? Why, other than to give the audience a sympathetic character to cling to, does he go around sagely opining ''Stick to the fundamentals'' and ''Only the steady players make it through the bear markets''? And if Oliver wants to give Holbrook lines like that, why does he then have another character observing along the way that old Hal had lost everything ''when the firm went belly up in the recession of '71''? What -- you never heard of that recession either?