Michael Douglas got `whacked` in the stock market crash

Uh oh.

Michael Douglas has admitted facing another crisis alongside his cancer battle – getting ‘whacked’ and losing almost half his money in the financial crash.

The actor insists his tumour is ‘shrinking’ and refuses to even consider the prospect of not beating the cancer he is currently fighting.

And he revealed he plans to take a year off to take wife Catherine Zeta Jones and their children around the world.

But he also admitted to another crisis he recently faced when his dabbling in the stock exchange had a devastating effect on his wealth.

‘I lost 35 to 40 per cent of my net worth,’ Douglas says of the most recent stock exchange crisis that inspired his latest Wall Street movie. ‘I got whacked big-time – it was serious.’

He admits that he had no idea what to do when the crash was happening.

‘I was the classic deer in the headlights,’ he said.

‘I didn’t know what to do with the advice I was getting. There were a couple of huge drops and it kept on going, and by the time you woke up the next day, people were down anywhere up to 60 percent of their net worth.

‘I knew a lot of people who lost everything.’

Posted by on September 30th, 2010 at 11:55 am

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