Barbra Streisand’s Stock Market Obsession: Trading Millions and Getting a Thrill
Actress-singer Barbra Streisand had an unexpected obsession with gambling on the stock market. Between 1998 and 2000, she found herself trading millions of dollars and experiencing the thrill that came with it. Streisand revealed in her memoir ‘My Name Is Barbra’ that she would wake up at 6:25 a.m. without an alarm, throw on her bathrobe, and start trading stocks at her desk while sipping on a cup of hot chocolate. This new endeavor gave her a whole new learning experience and provided her with a sense of excitement and thrill that she found similar to gambling.
Unusual Stock Picking Methods: Barbra Streisand’s Personal Preferences Revealed
Streisand’s methods of picking stocks were quite unusual. Rather than conducting in-depth research, she based her decisions on personal preferences and whims. She admitted to choosing stocks like Viagra maker Pfizer because she had read about the drug and thought it would be popular. Likewise, she invested in Apple because she liked their products and Starbucks because her personal assistant loved their coffee. There was even a time when she picked a stock simply because it had her initials. Streisand’s stock picking strategy was unconventional but seemed to work for her at the time.
From Viagra to Apple: Barbra Streisand’s Risky Stock Investments
Barbra Streisand took on some risky stock investments during her time in the market. She bought shares in Pfizer, the maker of Viagra, because she believed it would be a popular drug. This unconventional investment paid off, as Viagra became a widely used medication. She also invested in Apple, not based on detailed market analysis, but simply because she liked their products. These risky investments were part of her rollercoaster ride in the stock market, where she was guided more by personal preference and intuition rather than traditional strategies.
Barbra Streisand’s Rollercoaster Ride in the Stock Market: Scary and Thrilling
Trading stocks provided Barbra Streisand with a thrilling and scary experience. She compared it to riding a rollercoaster, with its ups and downs, uncertainties, and adrenaline rushes. Streisand found joy in the momentum of the market and the excitement of making trades. However, despite the thrill, stock trading eventually became too stressful for her. While she relished the private nature of her trading activities, she decided to quit after losing a significant amount during the 2008 financial meltdown. The stress and uncertainty took a toll on her, leading her to re-evaluate her approach to investing.
Why Barbra Streisand Quit Stock Trading: Stress and Financial Meltdown
Barbra Streisand eventually quit stock trading due to the stress it brought into her life and the devastating losses she suffered during the 2008 financial meltdown. Trading provided her with a private escape from her public persona, allowing her to focus on something other than acting or singing. However, the pressure and constant monitoring of the market became overwhelming, leading her to switch gears and focus on safer investments like bonds instead. Streisand’s decision to quit trading reflects the understandable need to prioritize financial stability and peace of mind over the thrills and risks of the stock market.
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