7-Year old makes million trading stocks during lunch
12-16-2014, 02:35 AM
Quote: (12-16-2014 02:17 AM)Zelcorpion Wrote:
Quote: (12-15-2014 11:01 PM)Grange Wrote:
Business Insider is a terrible publication. It seems like it's what people who have no idea about business think a "business insider" would write about if he was their buddy.
Guess who was the reporter: Jessica Pressler - a young impressionable girl for whom emotions and 400$ spent on caviar was way more important than facts.
Interesting story here from a Trader in Japan - guy was 29 back then and does it for 8 years:
http://www.japanprobe.com/2008/05/20/tak...ay-trader/
http://www.reddit.com/r/todayilearned/co...3600_into/
He is supposed to have made 13.000$ into 156 mio. $.
But there is a catch: He got a good leg up via an error of a trading house:
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Just a quick info on what happened in 2005. There was a big event called J-Com shock in December 2005 when an employee at Mizuho Securities, an IB firm handling the IPO of a company called J-com, erroneously ordered 610,000 shares per 1 Yen (that's around 1 US CENT today) instead of 610,000 Yen per share ($6,100 USD today). This caused a huge panic, and amidst of this panic, this guy bought 7,100 shares, and through cash settlement of 6,000 shares he made 20m USD on that day. Still a great investor and seems like a humble guy.
I hope my first post-ever on reddit helped some people lol -Half-Japanese guy fluent in Japanese.
So he made his first 20 million on one day via a very lucky break and then continued by increasing that to 156 mio. $ over the years. Those returns were reached even by entire funds for some years, so it's not impossible.
But of course he also lost sometimes 7 million $ in one day:
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He began trading during college. He never finished, just two credits short.
Even this genius trader couldn't foresee the failure of Lehman Brothers. The company bankrupted two days after he invested, resulting in a ~7 million dollar loss... and a broken monitor, which BNF punched out in anger upon hearing the news.
Without the 20 mio. $ lucky gain though, he would be making money, but not anywhere as much.