Today’s crop of traders are more cautious and less prone to risky bets compared with their counterparts in the no-holds-barred 1980s and 1990s, the American high-flyer who inspired the movie The Wolf Of Wall Street said.
Jordan Belfort said traders in his time made drug-induced bets or plied themselves with high-powered substances to make them gutsy and energetic.
They were mostly risk-takers who would not hesitate to act on their instincts, he told Ming Pao Daily.
By contrast, the present generation is deliberate even if there’s complete market research to rely on.
Belfort was in Hong Kong for a speaking engagement.
The 52-year-old New Yorker began his Wall Street career around the time of Black Monday in 1987. His early setbacks later became the impetus for his stratospheric rise and crushing end as a stock broker in the 1990s when he was arrested for securities fraud.
He spent 22 months in prison and later wrote a book that became a 2013 box office hit. He was played by Leonardo DiCaprio.
Belfort continues to invest in stocks — for himself — in the United States and more recently China where he sees promise in retail, resources and internet plays.
He also travels the world as a motivational speaker.
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