Barbra Streisand reveals she was once 'addicted' to stock market and got 'burned several times'
LOS ANGELES, CALIFORNIA: Barbra Streisand, who released her autobiography ‘My Name Is Barbra’, at the end of 2023, shared about her addiction to the stock market in the 992-page-tome.
In the book, the eight-time Grammy-winner admitted that she got “addicted” to the rollercoaster ride that the stock market gives while sharing that she invested in Viagra.
‘I had to follow the news and pick stocks’
Per Mirror, the songstress who sold more than 150 million records, shared that she traded in stocks from 1998 to 2000.
The 81-year-old singer and actress wrote, “From about 1998 to 2000, I was trading Monday through Friday, from 6.30am to 1pm. At 6.25am my eyes would open wide, without an alarm.”
She continued, “I’d get up, throw on my bathrobe, sit down at my new desk with a cup of hot chocolate, and start trading. That was a whole new learning experience.”
Streisand admitted, “I like gambling. Whenever I sang in Las Vegas, I would play blackjack.”
However, she also admitted that she had to keep herself abreast with all the news of the market, saying, “I had to follow the news and pick stocks. I read about this new drug for men called Viagra and thought, ‘That’s going to be very popular!’”
“It was made by Pfizer, so I immediately bought some shares. I chose Apple because I liked their products. [My PA] Renata loves Starbucks coffee, so I bought Starbucks,” she recounted.
She continued to share her interesting stories of how she chose stocks by saying, “One time I picked a stock because it had my initials. It was fun.”
“I was riding the momentum of the market like a rollercoaster, and it was scary and thrilling at the same time,” recounted the star.
She explained, “The main reason I loved it was because it was private. I didn’t have to act or sing. Nobody was looking at me. I could do all my transactions over the phone, in my nightgown.”
Her hard work and dedication made her $1.8 million in five months. Nevertheless, she chose to scale her trading after she “lost” her nerve in the 2008 financial meltdown.
She added, “I’m no longer playing with such big sums. After being burned several times (I lost my shirt, my dress, and my nerve in the 2008 financial meltdown), I decided to stick to bonds.”
Barbra Streisand to be honored with SAG-AFTRA Life Achievement Award
The multi-hyphenated star, who admitted to having made a substantial amount by trading in the stock market, has starred in several popular movies including 'Funny Girl', 'Funny Lady' and 'A Star is Born', among others.
For her long-spanning career in the entertainment industry, Streisand is to be awarded the 59th SAG-AFTRA Life Achievement Award for her outstanding contribution to the entertainment field.
“Barbra Streisand is an icon and unparalleled talent, a force of nature who has seamlessly woven her brilliance through the fabric of our industry. From her earliest days captivating audiences on Broadway to her unforgettable roles in cinematic classics like ‘Funny Girl', ‘The Way We Were', and ‘A Star Is Born', Barbra’s ability to inhabit her characters with authenticity is nothing short of extraordinary," said SAG-AFTRA president Fran Drescher as a tribute to the star.
