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Forum nameGeneral Discussion
Topic subjectHS kid makes 72M trading stock (update: no he didn't)
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=12675459
12675459, HS kid makes 72M trading stock (update: no he didn't)
Posted by Binlahab, Mon Dec-15-14 08:49 AM
http://www.marketwatch.com/story/high-school-student-scores-72-million-playing-stock-market-2014-12-14

awesome

mod edit - it was all a made up story. http://observer.com/2014/12/exclusive-new-york-mags-boy-genius-investor-made-it-all-up/

does it really matter?

for all my fans who keep my name in their mouth: http://i.imgur.com/v2xNOpS.jpg
12675469, What was his initial investment and where did he get it?
Posted by Hitokiri, Mon Dec-15-14 08:56 AM
what stocks?
Needs more details.
12675470, for what? if youre too lazy to click a link & read
Posted by Binlahab, Mon Dec-15-14 08:57 AM
youre damn sure too lazy to actually do anything w/ the information therein


does it really matter?

for all my fans who keep my name in their mouth: http://i.imgur.com/v2xNOpS.jpg
12675476, I did click and read. the article doesn't answer any of those question
Posted by Hitokiri, Mon Dec-15-14 09:01 AM
which is why i asked them.
Did YOU read the article?
12675480, well if they aint in the article htf would i know, mcfly?
Posted by Binlahab, Mon Dec-15-14 09:04 AM
do you think i know this fool?

if i knew what he was investing in to make this bread, wouldnt *I* be doing it? HELLO

smh

12675498, hmmm, he has some big money friends
Posted by John Forte, Mon Dec-15-14 09:20 AM
http://nymag.com/news/articles/reasonstoloveny/2014/mohammed-islam-stock-trading/?mid=nymag_press

12675507, it said he was 9 when he lost most of it trading penny stocks
Posted by legsdiamond, Mon Dec-15-14 09:26 AM
a 9 year old tutor? WTF...

12675605, His friend sounds like an Uber Douche
Posted by nipsey, Mon Dec-15-14 10:56 AM
All three plan to attend college next year, but they’re not concerned about classes getting in the way of their goal: “A billion dollars!” Damir said. “By next year!” Mo affirmed the number with a nod. “But it’s not just about money,” he added. “We want to create a brotherhood. Like, all of us who are connected, who are in something together, who have influence, like the Koch brothers …”

“Like in Wolf of Wall Street!” Damir interjected. “And Mo is Jordan Belfort.”



Which is to say: a believer in Wall Street. “A lot of young people do start-ups, but I think it’s a bubble. Trading and investments will always be there. Money will always be rotating—”

“Money never sleeps!” Damir added. “That’s from the Wall Street movie.”





“New York, that’s where the money’s at,” Damir shouted, pulling out a credit card.

This reminded me of an old joke about robbing banks because that’s where the money is. Damir grinned. “My father has a quote,” he said. “It’s really dope: ‘You can rob a bank with a gun, but you can rob the whole world with a bank.’ ”
12676424, they all seem like douchebags.
Posted by guru0509, Mon Dec-15-14 11:56 PM
12675483, Penny stocks, options or maybe a sham
Posted by Cocobrotha2, Mon Dec-15-14 09:11 AM
He wouldn't need too much to get started if he's trading ultra aggressively on penny stocks or with leverage.
12675511, I use to trade Penny stocks. You have to watch them like a Hawk -
Posted by Case_One, Mon Dec-15-14 09:32 AM
or you can loose everything.

.
.
.
"America, stop turning our Court Houses of Justice into Dens for Justified Murderers."
12675548, i bought 3,000 shares of penny stock once upon a decade and you
Posted by Fishgrease, Mon Dec-15-14 10:05 AM
couldn't tell me sh*t when it went to 9 cent a share.

I thought I was the man with that $270.

Ha!
12675537, that's a hell of a return. like unbelievable rate of return. he'd have to
Posted by Fishgrease, Mon Dec-15-14 10:02 AM
have started with $10m and have a return rate of damn near 400%.

12675583, RE: HS kid makes 72M trading stock
Posted by TR808, Mon Dec-15-14 10:40 AM
>http://www.marketwatch.com/story/high-school-student-scores-72-million-playing-stock-market-2014-12-14
>
>awesome
>
>
>does it really matter?
>
>for all my fans who keep my name in their mouth:
>http://i.imgur.com/v2xNOpS.jpg


This means nothing to me because it does not say what his initial investment was...

and how is a 17 year old allowed to trade stock for real...?
12675604, That kid probably used some sort of mathematical algorithim
Posted by spawn2k, Mon Dec-15-14 10:56 AM
He goes to Stuyvesant which means he's way more intelligent than the average person.
12675828, such an algorithm is a unicorn
Posted by cgonz00cc, Mon Dec-15-14 12:47 PM
12675835, yeah, the market is not a rational actor
Posted by John Forte, Mon Dec-15-14 12:48 PM
12675750, HE #1 AND YOU KNOW WHERE HE FROM
Posted by BabySoulRebel, Mon Dec-15-14 12:12 PM
QUEENS FTW
12675896, meh, been hearing stories like this since the 80's
Posted by PoppaGeorge, Mon Dec-15-14 01:34 PM
I'm not surprised one bit.

Also been hearing shit like the kid in Detroit that made a few hundred thousand building websites back in the early 90's. Duke was proud he was able to buy his parents the Jaguar they always wanted with cash.


---------------------------

forcing myself to actually respond to you is like bathing in ebola virus. - Binlahab

Like there is stupid, and then there is you, and then there is dead. - VAsBestBBW

R.I.P. Disco D
12675977, People have whole careers making $$$ in the markets out of pure variance
Posted by RaFromQueens, Mon Dec-15-14 02:35 PM
this kid is just a mega outlier.


Unless you're dumb enough to believe he possesses some skill that could replicate these results I guess.
12675984, I'll say it. I don't believe it. And yes I am very familiar with Stuyvesant
Posted by Buddy_Gilapagos, Mon Dec-15-14 02:41 PM
But by merely picking stocks you can't get a return off of penny stocks without insider trading or fraud.

Only people like Madoff try to sell people on a dream like that.

Warren Buffet isn't doing this. them Billionaire Hudge fund cats aren't doing this.


Maybe if he started off with 50 million but not if he started off with a typical high school kids allowance.


**********
"Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson

http://blackpeopleonlocalnews.tumblr.com/
12675987, The rich friends had to have put up daddy's money
Posted by John Forte, Mon Dec-15-14 02:44 PM
12676058, the story has Pump and Dump all over it---if it's to be believed at all.
Posted by Fishgrease, Mon Dec-15-14 03:35 PM
12676397, Can I get my credit for openly calling BS before it was Debunked?
Posted by Buddy_Gilapagos, Mon Dec-15-14 11:06 PM

**********
"Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson

http://blackpeopleonlocalnews.tumblr.com/
12676413, I guess? but it's so clearly impossible
Posted by Rjcc, Mon Dec-15-14 11:39 PM

www.engadgethd.com - the other stuff i'm looking at
12676092, Debunked:
Posted by initiationofplato, Mon Dec-15-14 03:59 PM
http://factually.gizmodo.com/no-that-high-school-kid-didnt-make-72-million-trading-1671333433
12676355, that shit sounded impossible because it was
Posted by Rjcc, Mon Dec-15-14 09:40 PM
http://observer.com/2014/12/exclusive-new-york-mags-boy-genius-investor-made-it-all-up/

now somebody explain to me how the problem here is that we believe rape victims too easily

www.engadgethd.com - the other stuff i'm looking at
12676394, huh?
Posted by Buddy_Gilapagos, Mon Dec-15-14 10:58 PM

**********
"Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson

http://blackpeopleonlocalnews.tumblr.com/
12676398, lol the fuk??
Posted by SeV, Mon Dec-15-14 11:07 PM
am I missing something?



but im banned tho.
____________

Dallas Cavericks LETS GO!!
12676407, lmao, i was thinking the story was soooooo thin
Posted by ConcreteCharlie, Mon Dec-15-14 11:26 PM
nothing about what the seed money was, where he got it, what he invested in, etc.

in this reporter the biggest fucking moron that ever walked? no, that title belongs to her editor.
12676409, pretty much. who the fuck let this run?
Posted by Rjcc, Mon Dec-15-14 11:29 PM

www.engadgethd.com - the other stuff i'm looking at
12676423, you are trapped in a worm hole
Posted by legsdiamond, Mon Dec-15-14 11:56 PM
12676465, tell me lies tell me sweet little lies
Posted by osu_no_1, Tue Dec-16-14 05:33 AM
http://youtu.be/kyE4CLM0QIA
12676485, damn...I feel sorry for the kid
Posted by Binlahab, Tue Dec-16-14 07:55 AM
His parents are freaking out, his whole little world is scandalized over a dumb lie he told

#bummer

12676496, what's crazy is coming from Sty, he HAD his pick
Posted by Buddy_Gilapagos, Tue Dec-16-14 08:12 AM
Of almost any college he wanted.

**********
"Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson

http://blackpeopleonlocalnews.tumblr.com/
12676658, Came here to post this, lol
Posted by initiationofplato, Tue Dec-16-14 10:29 AM
12676427, Binlahab come grab that L like you grab glazed turkey wings
Posted by Starks dunked on Bulls, Tue Dec-16-14 12:02 AM
12676468, DOH! - h. j. simpson nm
Posted by Binlahab, Tue Dec-16-14 05:56 AM