Ellen Ricks is a writer and fashion blogger who loves leopard print. Follow her on Instagram.
When we think about Wall Street, most of us think of people in suits and ties, carrying briefcases, hell-bent on trying to make the most money. Which is why you may be surprised to learn that some of the most successful movers and shakers in the stock market get a little help from the other side.
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Since the financial crisis of 2008, more and more Wall Street executives are seeking out all things metaphysical to help make the best decisions and get the biggest financial gains, with success. So what are the wizards of Wall Street using to make all that money?
Since 2010, the psychic industry has steadily grown and there’s no sign of it stopping. Psychics and practitioners of the metaphysical may have been scoffed at as a joke but the industry (astrology, mediumship, palmistry, numerology, etc. others), according to Fortune, earns a revenue of 1.9 billion dollars.
After the financial crisis of 2008, many Wall Street executives felt it was best to hire mediums to cover the blind spots in their businesses. Going to psychics gave them a greater sense of security and control when it came to making decisions. According to a study published by Plos One, those who believe in psychics had a greater feeling of control than those who do not.
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Mediums like Laura Day make an otherworldly sum of money for her consultations. Dubbed “The Psychic of Wall Street” by The Daily Telegraph for claiming to have warned her Wall Street clients to get out of the market a full year before the crisis, Day told “Fortune“ that corporate leaders pay as much as $10,000 a month for 24-hour access to her services.
While many companies won’t admit to using psychics, the same article in Fortune states that high-ranking executives from Seagate Technology and Google have been linked to using spiritual advisers. Even Steve Jobs kept a Zen Master on the Apple Payroll, all in hopes of seeing a little green in their futures.
Stones are becoming more than just shiny objects to give to your partners and lovers as Wall Streeters become more in-tuned to the powers of crystals. Reports in Business Insider claim the bros on Wall Street are spending up to $10,000 on healing crystals to attract love, money, and success. From investors, real estate moguls, and Hollywood celebrities are hunting for crystals to give them a sparkling edge in fierce competitions. Some are looking for luck in tough markets, and others, like commercial real estate star Alex Hill, are using healing crystals for spiritual fulfillment.
Regardless of the reason, money is clearly no object to these people. One man, who worked in luxury real estate, told The New York Post that he purchased a rare moldavite set in gold for $10,000. Moldavite is a green stone, supposedly formed by a meteorite impact in southern Germany that occurred 15 million years ago. His reasoning? For work of course!
So what type of stones are these people buying? Citrine, pyrite, and amethyst.
Now I wonder if I can write off my crystal purchases as a business expense.
So is Wall Street reading Horoscope.com while checking out the Dow Jones Report? Probably! In addition to looking at stocks, some traders look to the stars for advice on money-making decisions.
Although it’s not as simple as checking your daily star sign horoscope. Many invest money and time into hiring astrologist to advise them on when it’s the best time to invest, buy, and when to pull out. There’s even a name for this type of astrology called “financial astrology.” Financial astrology is the practice of linking movements of stars to the events in the financial market. Financial astrologer Arch Crawford, who runs Crawford Perspectives, got his start on Wall Street as a stock analyst at Merrill Lynch. Now he has 2,000 subscribers to his newsletter where he gives his take on the planets as it relates to markets.
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And Crawford’s one piece of advice? Don’t make financial decisions when Mercury is in retrograde, because everything gets a little crazy.
Another financial astrologer Karen Starich, who is a contributor at Zen Trader, charges $237 for her annual newsletter that details what will happen to the stock prices of companies and the Federal Reserve, for the 300 traders who subscribe. Maybe decisions are not in the numbers but in your star charts.
While Wall Streeters won’t be quick to admit that they need help outside their own know-how, it’s clear they’ll try anything to get an edge over their intense competition. So, the next time you’re consulting your star charts about your money situation, buying a crystal, or lighting your wealth candle, don’t feel silly; Warren Buffett might be doing the same thing. —By Ellen Ricks
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When Ellen Ricks isn’t writing, she’s consuming pumpkin spice everything, frolicking in fancy dresses and dismantling the patriarchy. Follow her on Instagram.
Photo: @mttnrrs via Twenty20