Or so claims Mark Jeffries, a former equity salesman for Merrill Lynch and the author of The Art of Business Seduction. Jeffries, who wasn't big on going out and getting faced, says he was canned partly because he didn't carouse with his boss.
New York magazine says, When the market tanked, he got canned. "Whereupon he had the following revelation:
'Getting drunk was the point. That was the emotional connection. I missed that. And so I missed creating a really strong emotional connection.'"
There is no doubt that Wall Street likes to party. Psychologist and training coach Dr. Alden Cass (who specializes in Wall Street players) wrote to me via email: "I see roughly 25 FAs and traders per week and they come weekly for therapy/coaching. I am a bit of a hybrid and offer both services throughout my work with them which is why they choose me over a garden variety therapist. I work on their emotions, minds, and businesses all in one. I get new referrals about 3x per month, deliver workshops to groups fa's and work in house with teams in addition to my practice to get this info. Yes, [most abused drugs are] anti- depressants, anti anxiety, and energy pills, like adderall, are used. Adderall and the anxiety meds are addictive and let's not forget alcohol abuse."
Incidently, in Dr. Cass's next column in Registered Rep., he'll be writing about prescription drug use.