trading floors and substance abuse
going to sound a little stupid but stick with me on this. Can someone shed light on to the substance abuse on trading floors? is it like they show in the movies (think WoWS)/has been in the past or has it calmed down over time? Maybe just taking a lot more in secret rather than openly?
edit: only ask as I want to end up on a trading floor but if the substance abuse culture is as it was 20-50 years ago I may look at alternative options as it’s not the kind of culture I want to be surrounded by.
nah you don't sound a little stupid
you sound pretty damn stupid
I always thought the substance abuse part of the trading culture added an interesting taboo element to it. Obviously the trading floor culture is vastly different than it was even 10-15 years ago and for me seems far less interesting to be on now than it did 20 years ago (talking about NYSE/CBOT)
And WoWS was more than likely exaggerated for cinematic effect. I would not use that as a benchmark and it was more of a sales operation than a 'trading floor'.
The boys on the floor are always down to hit the hookies and shred some zaps. Although ever since the financial crisis, we now have to wait until after market hours. Damn regulators.
to be clear, most traders are math majors from ivy league schools. Doesn't strike me as a particularly hard partying crowd
This fucking website bro, literally no one answered this question they all just indirectly call you stupid; lmfao can anyone actually provide a legitimate answer?
I mean there isn't really anything to answer - I highly doubt people openly discuss their substance abuse at work. if you're a trader and snort anything of any sorts you do it in private because at the end of the day it's illegal and just not a great look. If it happens on trading floors - you won't really know about it.
It's not like in the movies. I know tons of bankers that take ecstasy and other drugs, but no one ever forces you to take anything. Drugs are pretty secretive, and in order to be introduced to people that do these things, you'll have to be well liked and click with those individuals.
Hmm I think caffeine might be the number one scourge to hit the floor since coffee machines were invented
"Nigga, fuck that snow up your nose, it's fuckin' ski time." - Anderson Paak
you are an idiot....may god have mercy on your soul...but i doubt it
Short answer, no
I suspect more than a few people self medicate though to keep up with the pace. Maybe coffee, maybe adderol. I’m internal consulting and cover trading, and these folks are often definitely hopped up on something.
Truth be told, I’ve popped a Claritin D on days where I know it’s going to be heavy. Bit of speed in there. Plus y’know, allergies.
thanks for the serious reply, it was all I was looking for... wasn’t expecting anyone to openly say “I love some snow after breakfast”, just wanted to know the extend to which it still goes on!
I don’t know if my reply was entirely serious ;)
Movies dramatized Wall Street because that’s what movies do (otherwise they’re documentaries) and maybe consider there’s wayyyyy more drugs in other industries. Entertainment for example. Drugs are part of the human experience IMO, the only real variable is your level of participation
Wolf of Wall Street is a movie about a bunch of sleaze bags, some of which were drug dealers, scamming people via pump and dump...it’s not Wall Street. Their office wasn’t even in Manhattan.
Great movie love Leo, but lol.
As for drug abuse, nobody discusses extracurriculars like that at work. On a trade floor you’ll get flagged by compliance for a crappy knock knock joke if they really want.
Do people do drugs? Yeah, people in all industries do, and if you hang with co-workers that are into partying and clubbing the discussion will probably subtly come up at some point or another. And nobody is ever gonna force you to do anything.
After the better part of a decade in AM, I'm not sure UFOinsider is even correct. Anybody who even does Adderol is likely going to get it prescribed, and keep it quiet. (I was on ritalin as a kid in the 90s, and there are....side effects, which made me drop it in HS. Social benefits of that call were huge, academic benefits? Meh.)
In AM I've seen people put the strip club on the company card as an expensable event, but have never seen any sort of drug use with any coworkers. (Please don't ask otherwise) Drinking is pretty significant, but that's at your call, and easily avoided if desired.
I should qualify the above by saying I’ve never once had anyone on the job tell me they do drugs, I’m just guessing they’re on something based on complete personality changes at times. And it’s always the same changes, like “oh today he’s back to normal but tomorrow he’ll be doing that thing again where he repeats everything five times” or whatever the behavior cluster is. My go to guess is adderol or coke based on the behaviors, but I’m sure there’s plenty of stuff people are doing.
As for after hours that’s a different story entirely, totally agree there
Adderol is designed as a time release dose, so that sort of behavior would be unusual unless you grind it up and snort it.
I think you're seeing something else if people are coming in and doing that. I'll admit to having no experience to injection based drugs, but it could be possible.
Wolf of wall street was about a pump and dump scammer not s&t. Organized crime used to be heavily engaged in this. They are the same as those "tech support" people calling the elderly to steal their savings. Bothers me that the film glorified people who are that level of scummy. In terms of real s&t, I know interdealer brokers take traders out to drink but I don't have any first hand knowledge.
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