• 01 Apr 2010 at 4:15 PM

Money Manager Michael Douglas Is Through With Investing

By Bess Levin

Unlike his younger co-star, who has the stomach and the skills to withstand the highs and lows of trading, Michael Douglas is out.

The Hollywood actor – who made the motto famous as trader Gordon Gekko in 1987 film Wall Street – says he chased the big bucks for years. The movie veteran said: “I played. Years ago, through the tech booms, I definitely did it.” Then it all came tumbling down. The actor, 65, said: “I lost 35 to 40 per cent of my net worth on the 2008 crash.” Despite prices starting to recover, he was shocked into ending his profiteering – and pulled most of his cash from stocks. He revealed: “At the end of last year, I took a whole bunch out.”

It’s Wall Street Over For Douglas [The Sun via Daily Intel]

Comments (22)

  1. 1
    Posted by Anonymous | April 1, 2010 at 4:30 PM

    Puss n’ boots

  2. 2
    Posted by Anonymous | April 1, 2010 at 4:36 PM

    Shia,

    I’m gonna cut open your thoracic cavity and shove a pacemaker in there. Then I’m going to hack it.

    Jeff Macke

  3. 3
    Posted by Anonymous | April 1, 2010 at 4:39 PM

    #1 – Welcome Back Jeff Macke!
    #2 – Why is Pee Wee Hermann eating a hotdog with Michael Douglas? Is this an “adult movie” thing that I don’t get?

  4. 4
    Posted by volatilitysmile | April 1, 2010 at 4:40 PM

    Release the Kraken!

  5. 5
    Posted by Anonymous | April 1, 2010 at 4:49 PM

    http://www.nytimes.com/2010/04/01/fashion/01gossips.html

  6. 6
    Posted by LeveredLong | April 1, 2010 at 4:50 PM

    I always was a fan of Michael in the American President…

  7. 7
    Posted by Anal_yst | April 1, 2010 at 4:52 PM

    Of course, because the Universe would implode if the man who played Gordon Gekko was anything even remotely like the character.

  8. 8
    Posted by CoveredLong | April 1, 2010 at 5:00 PM

    FYI, DB just released an IT patch which allows the cookie bios to run faster if you press Ctrl + F4…it may not make a huge difference, but the site seems to load faster.

  9. 9
    Posted by Anonymous | April 1, 2010 at 5:00 PM

    @5 really? you missed the whole thread in opening bell on that?

  10. 10
    Posted by Anonymous | April 1, 2010 at 5:17 PM

    @8 – what is the date again?

    -Guy who really has no idea what ctrl+f4 will do, but who is an admitted tech moron and is not inclined to try

  11. 11
    Posted by Anonymous | April 1, 2010 at 5:27 PM

    @9

    http://www.nytimes.com/2010/04/01/fashion/01gossips.html

  12. 12
    Posted by Anonymous | April 1, 2010 at 5:28 PM

    http://www.nytimes.com/2010/04/01/fashion/01gossips.html.

  13. 13
    Posted by american bandersnatch | April 1, 2010 at 5:36 PM

    He was good in Spartacus.

  14. 14
    Posted by Anonymous | April 1, 2010 at 6:15 PM

    Guess he doesn’t have a basic instinct for stock trading.

  15. 15
    Posted by Lindsay | April 1, 2010 at 8:05 PM

    What a pussy. Log back into your E-trade account, Douglas!!!

  16. 16
    Posted by Anonymous | April 1, 2010 at 11:53 PM

    Hope the movie fails to make even so we never hear from both these losers for a little while more.

  17. 17
    Posted by Anonymous | April 2, 2010 at 2:19 AM

    Looks like Douglas’ investment “Traffic” has stopped.

  18. 18
    Posted by god | April 2, 2010 at 7:16 AM

    is this guy serious?! after march 9 2009 he would have a majority of his money back. damn sucks to be him.

  19. 19
    Posted by CoveredLong | April 2, 2010 at 8:11 AM

    @18 – Right, jeez. Hey so uh, listen, today’s shaping up to be a pretty ‘good’ day, you think if I finish up that thing we talked about by about 4ish I can hit the road?

    -LB

  20. 20
    Posted by god | April 2, 2010 at 11:13 PM

    @19 thou shall be smotten, if you even think of missing friday mass.

  21. 21
    Posted by Obama Writes Like a Retard | April 5, 2010 at 1:43 PM

    Don’t cry for Jack Colton. He’s still worth north of $500 MM.

  22. 22
    Posted by Anonymous | April 21, 2010 at 1:00 AM

    where is mad dog when you really need him?

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