Cocaine has lost its cachet among investing professionals, according to drug-testing firm Sterling Infosystems, which has concluded that marijuana, or as it is known on the Street, “Jimmy Cayne’s Little Helper,” has become the drug of choice among finance professionals. (This explains Stanley Druckenmiller’s emotional announcement that he was retiring to play golf and this missive from Bill Gross)
Other types of depressants are on the rise, too, due to the credit crisis and because “finance workers feel entitled to illicit drugs, given their paychecks and stress of their jobs,” drug counselors inform the Journal. Justified though they may feel, they’re still attempting to hide their habits, according to William Heran, the director of Seabrook House, a 24-bed luxury rehab facility in Pennsylvania that has found itself “crammed with Wall Street refugees in recent months.”
Mr. Heran has been around long enough to discern a forex trader from an M&A banker. He says the rage these days is a Pez dispenser with the head of a red devil. Inside? Pills of Oxycodone or Percocet.
We think it’s probably because they don’t want to share.