7-Year old makes million trading stocks during lunch
12-15-2014, 06:27 PM
The newspaper:
Quote:Quote:
However, Mohammed provided bank statements that showed he is worth eight figures; he confirmed on the record that he's worth eight figures," it said.
Sticking to the truth as always... Frankly it seems to me that you would have to look at news stories with the same doubt as with rape allegations. First assume it is all a lie, a scam or a half-truth. Then after some digging you find out that the media just copied some bogus amount - maybe even some youths bragged about having 8 digits on his account - which is possible, but he did not say that he made it trading.
On youtube other little punks in suits posted videos with similar "success stories" to advertise for a so-called Leaders Investment Club, where teens can join to later open "their own Hedge Fund".
They are obviously reading the statements:
Here the famed Mohammed Islam.
That one seems to be the main head & co-founder:
He started trading supposedly at 7 - all others started their "businesses at 9" - it's a fucking market gag.
The other boys all talk about having started their businesses at ages of 8-10 and now being on the verge of opening Hedge Funds:
Their company is just a network offering investment & trading advice for youth. While indeed that may be a worthwhile goal, their marketing scheme of putting out all those viral fake success stories is bogus.
http://leadersinvestmentclub.com/
Also their statement:
Quote:Quote:
It has been brought to the attention of the Leaders Investment Club that Mohammed Islam has been rumored to have made $72,000,000 through making trades in the stock market. After performing due diligence and talking with Mohammed Islam himself, we have determined that these claims are false and simply been blown up by the media in the interests of sensationalism. We hold all our members to exacting moral and investing standards, and ask Mohammed Islam to clear up all misinformation surrounding his claims, misconstrued or otherwise. The goal of Leaders Investment Club is to promote the financial education of Millennials, and we disavow affiliation with members who fail to promote accurate and transparent information.
Sincerely,
The Leaders Investment Club Community
And for the record: there have been traders who started out at ages of 18-21 even in the old times as floor traders - sometimes trading via their relative's accounts. That has been well researched by Jack Schwager in the book Market Wizards. Many of those guys are hardly known aside from the community. Some of them have made 7 digits in their early 20s, but going into 70+ mio. $ in such a short time is indeed very unlikely. Even more unlikely when you see their party lifestyle. That Mohammed Islam especially seems as if he has read his entire little speech for youtube - and not even very convincingly. But he may be flush with his parents' cash, so who knows - he has enough money to burn.
The little buggers also stayed away from a public TV interview - the were already invited. That was stupid too, since they could have used the publicity to generate interest for their business model, but it's possible that the parents intervened - they are all minors, so there is a limit to the viral campaign that is going to be allowed.
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http://nymag.com/news/articles/reasonsto...k-trading/
It is really strange how little research and due diligence papers like the NY Magazine do. It may be their online site only, but they truly can't blast all the shit out. Sure - the financial literacy may be small and some of those kids may have a few million in his bank account, but that does not prove jack shit.
They would have to take a short look at his trading records whether he made some money there at all.
http://www.zerohedge.com/news/2014-12-15...ks-alleged
Yeah Frenchie - Zerohedge's report is good. He only needed to check out their crappy website and youtube videos to find out that everyone of those buggers had the same bloody story starting with business experiences in the ages from 7 to 10.