17 Year Old New York Teen made $72 Million by trading stock during lunch break

[SeymourCake]

http://www.dailymail.co.uk/news/art...rading-stocks-lunch-breaks.html#ixzz3LuUdwQWE

- Mohammed Islam, 17, started dabbling in penny stocks at the age of nine
- He trades stocks on lunch breaks at New York's Stuyvesant High School
- Has made around $72million; has bought BMW and Manhattan apartment
- He cites his inspiration as billionaire hedge-funder Paul Tudor Jones, 60
- Mohammed's parents are immigrants from Bengal region of South Asia
- Student hopes to start hedge fund next year and make $1bn with friends
- On his Instagram profile, he has written: 'More money, less problems'

 

[synergy1]

Warren buffet has a bet with a hedge fund. The bet is as follows. In 10 years, the return of a portfolio consisting of a standard index fund with a 10% cash position will outperform a portfolio with a hedge fund (it was not named) when accounting for the cost of all products involved. The index fund carries a low annual fee of something like 0.05% while a hedge fund is 2% plus usually 20% of the profit.

The bet has been going on for 6 years. The hedge fund is losing badly.

Good for this kid for making millions. Some people are that good, or understand it that well. The moral of my story is that most people are not and are better off staying in something with a long term proven strategy if their long term goals are capital appreciation.

 

[Bible_Belt]

I knew this was too good to be true:
http://www.dailydot.com/lol/nyc-high-schooler-72-million-mohammed-islam/?fb=dd

I was a stock broker, and we didn't let anyone under 18 have an account. He would have been trading an adult's money, or at least an account in their name.

Typically, the only people who make millions trading have millions to start with.

 

[backbreaker]

I was a stock broker, and we didn't let anyone under 18 have an account. He would have been trading an adult's money, or at least an account in their name.

it reminds me of the time i went to the track with my dad lol

i was what.. 11-12 years old. by then i was alreadya full fledged gambler, reading the DRF, understanding speed figures and everything. my dad used to give me 20 dollars and say okay you can bet whatever you want but when you run out of money you're out. i would usually break even, sometimes a little less sometimes a little more

so one day i really liked a horse in one race and i really liked a long shot in another race, and i was like ****.. lol, i'l just play a pick 3. so i play the 2 horses i really like straight up and i basically wheel the third leg with 4 horses. this ticket costs me 8 dollars, i was up a little on the day and i mean what the **** it's 8 dollars lol.

won the first leg. that was the easy part. the 2nd leg was the part i wheeled and one of them came in and it was a decent price and i was like oh **** lol i'm gonna hit this mother****er. mind you i'm in elementary school lol

so my dad is going around telling everyone his son is live in the pick3 there are like 20 people or so around us and everyone is cheering the horse home and he ****ing won! his name was boozing i'll never forget that and he was like 9 to 1.

anyway the pick 3 paid 300 dollars. i'm thinking of all the video games and pizzas and **** i'm about to buy. i'm about to live up with these 300 dollars. i'm about to go to blockbuster and clean them out

yeah my dad took it all rotfl.

 

[bp47]

http://www.zerohedge.com/news/2014-...who-made-72-million-actually-just-made-it-all

 

[synergy1]

Court attention at all costs....

 

[durgaprasadzone]

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[El Payaso]

Urban myth.