Archive for the "losses" Category

Michael Douglas lost almost half his fortune in the stockmarket

michael-douglas-as-gordon-gekko

Michael Douglas has dumped his “Greed is good” catchphrase and pulled out of the stock market after losing almost half his fortune.

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.

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.”