Despite the fact that his co-star Shia Labeouf has the accumulated wisdom of several lunches with top brass at the Encino branch of Charles Schwab, sitting in on rounds 17-23 of the Goldman Sachs interview process, and months of studying for the CFA’s Level I exam only to come down with a stomach virus the day of the test, it was retired investor Mike D who will be talking shop at CLSA’s investor conference in Hong Kong this September. For those who question whether or not Douglas knows anything about investing in real life, and why he and not another I don’t know– THE GUY WHO HAS BLOOMBERG ON SPEED-DIAL– was invited, rest assured, MD knows what he’s talking about here.
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.”