I have been traveling for the last 2 weeks and have regretfully been unable to do a lot of things, mainly work on my b-school essays. As I procrastinate getting back to work, I came across some information that got me thinking...
In the new Wall Street era, characterized by increasing regulatory scrutiny, I know that the $600 dinners for 3 a few times a week with fellow analysts, and expensing all night partying / strip clubs has probably been cut down on if not ceased altogether, but what about the drug that Wall Street once embraced with open arms and nostrils: Cocaine.
Wall Street Drug Culture
Ever since movies like the "Wolf of Wall Street" there has been an ongoing curiosity about drugs on the street. However, the drug lore about cocaine on wall street is much older than the recent film. So what the industry professionals have to say about drugs in high finance?
from certified user @blackhat"
5%... at best. Most people getting these upper-level jobs are really qualified candidates academically, ergo pretty fuckin' nerdy. It's hard to get someone to convert when mommy and daddy have been teaching them 'all the right things' from an early age. Most people are too tired to go out at all, let alone pull an all-night binge on the Bernie and be back in the cubicle in the morning with a 20oz Red Bull (fuck you Bloomberg) keeping you alive.
from certified user @ans2389"
From what I can tell, more people use ADD meds. They do the same thing except they work better and are cheaper, longer lasting and legal.
from certified user @bondarb"
When I was in my lower 20s I would have said something like 5%, but as I get to higher levels in the business i have come to think/see that drug use is way more prevalent. I personally hate coke and wont do it anymore because it makes me depressed but I know alot of people who use recreationally and I myself love to use painkillers recreationally and see those as equally popular on wall st. Bottom line is that people like to medicate whether on wall st or elsewhere...human nature...
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This sounds like a question for BlackHat?
lmao
Doubtful that consultants do coke, because they are obliged to remain clean and pristine because of the caliber of the clients they work for. I-bankers don’t actually work for clients in the same way consultants do hence when they get in trouble it’s only their own name they bring into disrepute.
Stand back kids, I got this.
5%... at best. Most people getting these upper-level jobs are really qualified candidates academically, ergo pretty fuckin' nerdy. It's hard to get someone to convert when mommy and daddy have been teaching them 'all the right things' from an early age. Most people are too tired to go out at all, let alone pull an all-night binge on the Bernie and be back in the cubicle in the morning with a 20oz Red Bull (fuck you Bloomberg) keeping you alive.
That said - coke sucks balls anyway, imo.
SB, I lol'd
It's definitely weak but I have a feeling if we do enough of it we'll be okay...
BLASPHEMY!
I definitely get the impression that coke use on the Street isn't what it was 20 (or even 10) years ago. Back then you were the oddball if you didn't partake of the occasional scoot. That said, I never understood how guys could do it on a school night, or worse, at their desk during market hours.
What about downers? Anybody doing downers these days? I fucking loved downers.
Now you're entering my world. Find yourself a woman who loves them too and maybe I won't have sounded so stupid a few months back when I said I found "the one."
And if not, I can always pray she OD's before the divorce gets finalized...
Eddie I think drug use is that same as it was 20 years ago, but I think the culture of discussing it has changed. Back in the day people felt no compunction about discussing doing blow and cheating on their wives...nowadays people still do the same shit but its not cool to talk about it broadly. But I firmly believe anytime people have money they will use it to fuck themselves up and today is no different then 20 years ago...and BTW I love downers and anyone with a good oxy script is a friend of mine.
On a more serious tone, I'd agree with the 5%, although I wonder if it is not more prevalent in markets than in IB.
i'll disagree on the nerds part, but not so much the percentage. regardless of a person's inclination towards academics, you will never know what insecurities or voids a person is hiding. i personally know quant pm and risk managers that have a penchant for yayo and strippers... dont forget that some quant guys trade through brokers and arent necessarily broker dealers themselves. when there's a broker, who knows what goes down... sometimes getting a guy laid > trade execution reliability.
Cocaine's a hell of a drug.
Applause from me for the truth and the one who tells the truth.
bonuses are down so I will be moving to crack or spray paint
i got that freon if you need it...
From what I can tell, more people use ADD meds. They do the same thing except they work better and are cheaper, longer lasting and legal.
From my experience, 5% seems pretty low - we are talking 1 in 20 people. Do you really think that only 1 in 20 people do coke on Wall Street (even occasionally)?
you don't "do coke" unless you're doing it at least every other week, so perhaps we have conflicting definitions but my guess is that 5% is probably gonna be high.
I think that if you don't know anyone who is doing it then they already know that you aren't down. What happens is that one person makes one quasi suggestive comment about coke/related to it and then judges everybody's reactions. You see that one person whose eyes light up and then you know that is the guy in your group to talk to about it. Nobody wants to come out and have everyone know they do coke, you gotta be subtle and find other people who are down.
Few will admit to doing it. According to BlackHat's definition, I also doubt it's even 5%. If it gets pulled out in front of them and offered up, I'd say you'd get a much much higher number. But on the regular, hell no is it 20% for a ton of reasons- illegal, stigma, health effects, etc...
Way less than 5%. It's all over achievers on wall street now, do you really think 1 in 20 people who graduated from HYP do cocaine sometimes? Not a chance. My banker pals can't even shotgun a beer, let alone cut lines. They do however, love to TALK about doing cocaine, especially after they watch that douche bag Christian Bale hit a few rails in American Psycho, hence all of the lame references in this thread.
The wall street types who DO cross the line (see what I did there?) tend to abuse it like none other and end up in rehab.
And I am pretty sure the line is:
"I wanna get high of this shit, not sprinkle it on my oatmeal."
Please correct me if I am wrong.
I am a prospective IB guy so clearly I am not in the trenches witnessing this stuff, but 5% sounds way to low to me. Look at the schools were traders/analysts are breaking in from : the IVYs, UVA, Georgetown, Duke, Wash Lee, Vandy, etc etc.. these upper crust schools and especially ones with huge greek life are notorious for skiing. Coke is college is getting more and more common, particularly at the 'targets' and 'semi-target' schools that have kids hailing from upper-middle class suburbia.
Again, I am only a college student, but I would bet that at least 10-15% of analysts go into the business having at least tried it once, and this is before these guys start making real money. Yeah, maybe 10% or so do it more than twice a month, but I would bet at some firms at least 20% of current male associates have tried it more than once.
Spot on.
Let's think about this for a second. The "path" goes something like: piano lessons -> mathlete -> chess club -> valedictorian -> ivy league -> finance job. I really don't see how ppl are surprised cocaine isn't common in the financial world. Like mentioned above, coke is huge in certain u-grads- particularly those where rich white kids are the majority. I'd say somewhere around 15-20% of kids at my school did it.... any guesses on how many of them had the grades required to break into finance? For better or worse, this isn't the Street of the 90's anymore
Having worked in banking for over 4 years, I can tell you that it's more than 10%. I would estimate it at 15-20%. These numbers initially seem high, but not once you start digging in. Basically, most people NEED some sort of outlet from working 90 hr weeks for an extended period of time. Some people's outlet is sleep, others prefer women, alcohol, drugs, or a combination.
As someone pointed out earlier, most bankers are kind of nerdy/dorky, and I'd say less than 5% do it before they get to wall street. However, once you step into the "exclusive" NY club scene (Junior bankers in particular LOVE this), then it's offered around like candy.
Robin Williams - Cocaine
When I was in my lower 20s I would have said something like 5%, but as I get to higher levels in the business i have come to think/see that drug use is way more prevalent. I personally hate coke and wont do it anymore because it makes me depressed but I know alot of people who use recreationally and I myself love to use painkillers recreationally and see those as equally popular on wall st. Bottom line is that people like to medicate whether on wall st or elsewhere...human nature...
Fuck cocaine, the shit's weak.
Fire bath salts.
Three more words: Face. Eating. Zombie.
My very first day on the floor I was talking with a senior trader and Jim Cramer goes up on one of the monitors. Guy looks over and goes "I used to do SO much blow with that guy at Goldman back in the 80's"
At my office, I'd say 25%-33% do it occasionally. 5-10% regularly (as in >twice/week). Pretty even distribution from the interns up to the guys at the top.
go to any S&T desk and you'll be surprised how many of these fuckers do it.
glad to know I'm in good company with a love for PKs, lmao
You ever try to take a piss on 100mg's? That's the definition of an uphill battle...
So is trying to nut...
Cocaine Usage in Banking (Originally Posted: 10/09/2009)
An interesting Bloomberg article about coke binging for London bankers. Obviously anyone here who works in banking probably knows someone who snorts. I just never imagined it would be this bad.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aGS4vvPvwFl8
Thoughts?
Seems like oxy's would be perfect for bankers during work and coke when going out. Anyone tried this combination?
I think the article dramtized the issue a bit, because of the severity of the cases... I wouldn't be surprised if a lot of traders did cocaine though, it wouldn't make much sense in banking
not as common with bankers, but i knew a few guys who did it at their desk late at night, mainly to keep cranking into the morning - don't really see it done outside work though
A little Vitamin C never hurt anybody. But I'd never do it while trading. Makes you too erratic.
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Dude traders don't do blow while working, just afterwards. Its mostly credit people at the top i-banks who work at random hours and make huge plays around the clock. I've seen some of my IB friends absolutely ruin their bodys whenever they have back-to-back days off. Its awesome
Obviously they just pick extreme examples. There are people who take coke though, that's for sure. I've known of people from analyst right up to MD who do it. Coke is easy to get and pretty cheap in London so it's not surprising. That said most people don't do it, half the guys don't really even drink that much.
This should clear things up.
I know people in ny who would do drinks then a line hten back to work for the night / night shift trader / or banker
i never did that but i just took adderall haha - same diff
^lol
% of M&A group on coke (Originally Posted: 09/21/2006)
in my group 50% of the people above analyst are frequent cocine users? similar experiences anywhere else?
Because there's never enough time!!
I'm so excited... I'm so excited... I'm soooo.. scaaarreed
Who knew caffeine pills could sideline you for the big dance-off at Max's?
Are you really serious? If so, that's crazy!
I love to take huge bong hits.
I must say at an info session the other day one of the guys was completely coked out
college = pot ib= coke that simple % of your friends that did pot in college will = % doing coke in ib
Are drugs that common at IB? Are we talking about botiques or bulge bracket here because I thought most companies would probably do drug testing or some shit before they hire you.
What about ivey league schools. Are drugs common there?
they do drug tests before hand. But people develop those drug habits while w*orking
personally, i haven't seen drugs consumed at work and i've been with big banks, but i've heard that at some of the small ibanks in san fran ppl have done lines of coke off books and shit to stay awake.
the biggest drug at columbia was adderall.
coke was popular mostly among the frat scene. pot, of course, was pretty popular too.
So a lot of Ibankers eventually end up doing drugs?I know its unlikely at work but I'asking about after work or at parties, etc. ?
Maybe just the new generation of Analysts and Associates.
I can't imagine an MD or VP doing a coke line or even smoking pot after a client meeting (or even with the client....lol....)
I don't think that anybody is suggesting that bankers smoke weed. I really can't picture an MD taking a massive bong hit.
I've seen about 30% or so. Still pretty high.
Denzera, the biggest drug at my bank is also Adderall. Best way in the world to stay awake all night and all day and all night again. Of course, it's not a party drug like cocaine; it doesn't induce euphoria or change one's sense of reality. Personally, I think it's a pretty sensible solution to a very tough problem (that of being productive for 36 straight hours or whatever is required).
Isn't Adderall a drug for those with ADD. How do they get their hands on that? I'm guesing its not sold on the streets since you need prescription for it, Don't you?
I need to find the picture of Jesse Spano.
http://www.dvdtalk.com/reviews/images/sbtb-02.jpg
I've seen a LOT of coke use....analyst to MD.
well shit then...not that surprising!!!
Very surprising to me. I still can't beleive that these people who aced through their univ. got into drugs as they step into the industry. That to coke.
And I thought weed was bad.
Are you talking about BB firm or small botiques? (or everywhere)?
Adderall is dextroamphetamine; most Adderall prescribed these days is extended-release (which not only increases the length of its effectiveness but also slows down the neurological "reward", making it far less addictive than street speed. It is sold on the street, but it's far cheaper if you have insurance to go and have a doctor write you a scrip for it.
Lots of people I knew in the b-school used it, as well as those in med school who work the painfully long hospital shifts. Tons of junior bankers use it. Though it has the effect of focusing one's attentions, it's nothing more than a slow-release amphetamine. As such, it keeps you awake and energetic throughout lengthy days and nights of work.
Stupid users crush and snort for a rapid neurological reward (this preempts the extended release coating). Smart users use only when absolutely necessary, because amphetamine dependence is a real bitch.
Risks: heart failure (particularly in those with heart defects), insomnia, agitation, psychosis, weight loss, all the common risks of uppers.
It can be hard to distinguish people who use Adderall/amphetamines from people who are on cocaine or who are just normally focused and energetic. The best way I've found is to listen carefully to the tone of their voice. High doses of amphetamines (but not cocaine or most other uppers) cause a slight involuntary tremble of the diaphragm. This causes a faintly audible "amphetamine quaver" in the person's open vowels and aspirated consonants.
Fun stuff, huh?
Any personal experience with Addy's? Geez...
Heh. I worked my way through b-school at wirehouses and mutual funds and still had a 3.97 GPA. I suppose I know a little bit about Adderall.
For some reason I thought you were an analyst?
I am. At my school, everyone called the undergrad b-school "the b-school".
where did u go ms ind?
I'm not sure if this is true, but I've heard people with ADD or ADHD have inverse effects to stimulants and depressants. Which is why addy's calm them down and help them sleep while everyone else becomes nocturnal. Conversely, alcohol makes them bounce off the walls...this explained to me by an ADHD, who could be totally wrong and/or messing with me.
Yeah, I'd say that's untrue. I've never known anyone whom amphetamines helped get to sleep. Adderall helps people with ADD focus because it stimulates the portions of the brain that have to do with focus (along with a bunch of others). Alcohol would have that bounce-off-the-wall effect because it initially depresses the portions of the brain that have to do with inhibitions. A lot of people get confused by the logic of putting attention-deficit kids on speed. It helps to remember that alcohol and adderall are not blanket depressants/stimulants; they act at different rates on different areas of the brain.
People with ADHD naturally move a lot more and focus a lot less. As they grow up, they gradually learn to control these things. Alcohol removes the control. Conversely, amphetamines seem to strengthen one's control over one's behavior.
Surely whomever you were speaking to didn't use stimulants at night. Doctors are very careful to dictate that they only be used in the AM.
That said, it's quite possible to relax and sleep while on low continuous doses of Adderall... it's just more of a challenge. A good awareness and control of one's neurochemistry helps.
Not going to pretend I know enough about ADHD or their respective corrective medicines to have any intelligent input. I'm really not that into pill-popping like some friends in college were, but everytime I've had adderall its worked wonders...Concerta(sp?) not so much..
first of all, adderall is not dextro-amphetamine, dexedrine is dextroamphetamine...
Adderall is a combination of four different amphetamine salts, two of them are versions of detroamphetamine
second off, he's right, adderall in no way will help anyone sleep, some people might be able to sleep on it cause they have experience with drugs and they have a tolerance..
sometimes, in very rare cases, people will take an extremely small amount of adderall for their AD/HD at night to help them fall asleep, all it does is help them rest their mind and relax
fyi, don't crush time release adderall, the way the time release works is there are two different balls in the capsule with two differnt coatings, one dissolves right away the other takes four hours, you're not supposta put the shit that coats the pills up your nose, that might hurt...
but, i would not suggest putting anything up your nose, the pills are not made to go in your nose and if they were that's how it would be prescribed
cocaine champagne and high class hookers (Originally Posted: 07/05/2012)
S.
One thing I can say is that, a few years back, when I was moving weight, me and my guys had the purest one. +90%
get the fuuck outta here biitch
suck my dick bitch
Be honest, who here has done coke FOR REAL? (Originally Posted: 01/21/2011)
I can’t decide if I should buy diet or coke zero. Which one tastes better?
Both are terrible. Original Coke for life.
Same here. Also good with JD.
pepsi all the way
Diet Mountain Dew. Taste good and efficient (as far as amount of caffeine per can).
cream soda...mmmmmm
Haha not what I thought when I clicked..
I prefer Coke Zero, but then again I could just be another victim of marketing: http://en.wikipedia.org/wiki/Coca-Cola_Zero
Blech..soda, not my thing.
Diet Coke, no question.......Stay classy San Diego.
Vanilla Coke.
goddamnit
I'll take a regular Coca Cola with three ice cubes and one lemon sliced squeezed in any day
shaken, not stirred
Columbian, it's more effective than both diet and coke zero.
Coke Zero FTW
I'll second the motion.
Regards
this thread is terribly unfunny and should be closed immediately.
Someone needs to un-bunch their panties.
agreed
coke zero
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