New York teen makes US$72 million in a year

[Serpo]

New York teen makes $92m in a year Last updated 16:22, December 15 2014
























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http://www.stuff.co.nz/content/dam/images/1/2/7/h/e/v/image.related.StuffLandscapeSixteenByNine.620x349. 127gcu.png/1418613574672.jpg John Selkirk
MONEY MAKER: Mohammed Islam intends to start a hedge fund and become a billionaire next year.



An American college student has reportedly made an estimated US$72 million ($92 million) investing in the stock market in the past year.

Mohammed Islam, 17, spent most of his lunch breaks at Stuyvesant High School in New York trading oil and gold futures, and small to mid-cap equities, New York Magazine reported.
He bought a BMW which he cannot drive because he does not have a licence and rents a lavish Manhattan apartment which he cannot live in because his parents will not let him leave home, according to the New York Post (http://nypost.com/2014/12/14/stuyvesant-hs-student-nets-72m-on-the-stock-market/).
He often takes his friends out to dine at Morimoto, a swanky restaurant where the caviar costs US$600.
During an interview for the magazine's 10th annual Reasons to Love New York issue, Islam refused to disclose his exact net worth but admitted it was in "the high eight figures".
However, his parents, who are immigrants from the Bengal region of South Asia, would not yet allow him to move out of their family home in Queens, New York, according to the New York Post (http://nypost.com/2014/12/14/stuyvesant-hs-student-nets-72m-on-the-stock-market/).
"My dad doesn't work now and I tend to help out with things, and futures gives me that incentive," Islam said.
Despite this, his parents were not that happy his success had come in the tumultuous world of trading.
"My dad doesn't like [finance] that much.
"He says he is OK with me trading, but my mum is skeptical about the market. But they see it as, if I am good at it, then why not?"
Islam did not taste immediate success on the stock market.
As a nine-year-old he lost his entire life savings investing in penny stocks.
The setback put him off trading for many years, but he said he took inspiration from Paul Tudor Jones.
Jones, 60, is the billionaire founder of private asset management firm and hedge fund Tudor Investment Corporation and ranks as the 108th-richest American, according to Forbes.
Islam said that while he was hit by his initial losses, he quickly learned from Jones' ability to get back into the game again and again.
"'I had been paralysed by my loss but [Jones] was able to go back to it, even after losing thousands of dollars over and over."
The teenager said he and his trader friends hope to start a hedge fund in June - when he was old enough to get his broker-dealer licence - and intended to make a billion dollars next year.
He would also attend university during this time.
"It's not just about the money," Islam said.
"We want to create a brotherhood. Like, all of us who are connected, who are in something together, who have influence."


http://www.stuff.co.nz/business/world/64173198/New-York-teen-makes-92m-in-a-year

[ShortJohnSilver]

Do you believe it? Or is there some money laundering going on?

[Glass]

As a nine-year-old he lost his entire life savings investing in penny stocks.there's been a few of these tales circulating lately. I think they are just fishing for fresh meat. What if "your son" gets big time margin called, wiping out his gains. Do you mortgage the house to pay his debt?

[palani]

Lesson learned from Zimbabwe. If you do not have a working definition for what one dollar is then what difference the quantity?

[Neuro]

Do you believe it? Or is there some money laundering going on?
I am very skeptical about this. If you google 'Mohammed Islam' you will not likely find any info on this supposed boy the first million hits. It could be a totally made up story. Or as you say a front for laundering money. Or maybe TPTB appointed a new frontman for PR-purposes with an obvious Muslim in finance...

[Neuro]

Lesson learned from Zimbabwe. If you do not have a working definition for what one dollar is then what difference the quantity?
If you look in the right upper corner of your screen, you can see how many of them are required to buy an ounce of gold, silver, platinum and palladium. It is called market value, so depending on supply and demand it can vary...

[aeondaze]

I am very skeptical about this. If you google 'Mohammed Islam' you will not likely find any info on this supposed boy the first million hits. It could be a totally made up story. Or as you say a front for laundering money. Or maybe TPTB appointed a new frontman for PR-purposes with an obvious Muslim in finance...

I can't stand this shit. Boy nine makes $100,000 in a month, boy makes first million by 13...yeah sure.

Its just complete fabrication aimed at fleecing all us 'suckers'. They gota try something with all that money sitting on the sidelines, "come on in, the waters fine!"

http://www.moreproduction.co.uk/wp-content/uploads/2011/02/roll-up-sign-small.jpg

[hoarder]

I am very skeptical about this. If you google 'Mohammed Islam' you will not likely find any info on this supposed boy the first million hits. It could be a totally made up story. Or as you say a front for laundering money. Or maybe TPTB appointed a new frontman for PR-purposes with an obvious Muslim in finance...The first thing that came to my mind is that Khazars take Muslim names and identities whenever it's convenient. If it's true that this kid, if he exists, made that kind of money in a year, it's pretty obvious he's a member of the banking tribe.

[palani]

If you look in the right upper corner of your screen, you can see how many of them are required to buy an ounce of gold, silver, platinum and palladium. It is called market value, so depending on supply and demand it can vary...

NEWS ALERT!!!!

Definitions have no time component. They don't change.

Have the values you cite changed since your post?

[Twisted Titan]

There is no way this can fly.

You take 500 dollars cash out the teller reports you to the fbi

What was the financial logistics of setting up bank accounts to handle that type of cash?

What about tax consequenses?

What bank is going to lett a kid with a name islam oppen a multi million dollar account?

I call bullshit.

[StreetsOfGold]

Articles like this are like promoting the lottery.
They highlight one guy who "won" (assuming it's even true to begin with, which I doubt) to give you the subtle impression that if he can do it, so can you.
Afterall, aren't you smarter than a 17 yr old?

[palani]

Afterall, aren't you smarter than a 17 yr old?
I have the capacity to contract. He doesn't (and he isn't).

[singular_me]

this is fabrication to make others dream or feel worthless... to sustain the illusion that the system is fair

[mick silver]

http://www.illustrationsof.com/royalty-free-smell-clipart-illustration-12174.jpg

[Neuro]

NEWS ALERT!!!!

Definitions have no time component. They don't change.

Have the values you cite changed since your post?
Everything change constantly. Also definitions. You can define the value of the dollar as to what Kitco says it's worth in relation to Gold, Silver, Platinum and Palladium.

If you like! :)

[aeondaze]

Update: it appears our bemused skepticism was well-founded. Moments ago that paragon of honesty, CNBC itself, chimed in and reported that following a conversation with Mohammed, the 17 year old admitted he made nowhere near that amount. To wit: "That story is being widely disputed and I can tell you that I just spoke with the gentleman right here at CNBC HQ, he told me the $72 million figure is not true, they do not know where it came from. They said "the attention" is not what we expected. We never wanted the hype."

Who would have thought, CNBC deliberately mislead their viewers!

http://www.zerohedge.com/news/2014-12-15/meet-17-year-old-high-school-junior-who-made-72-million-trading-penny-stocks-alleged

[singular_me]

looks like he will be among the next generation of wall street sharks

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/12/mo%20islam_0.jpg

[palani]

Everything change constantly. Also definitions. You can define the value of the dollar as to what Kitco says it's worth in relation to Gold, Silver, Platinum and Palladium.

If you like! :)
I can define a dollar as a piece of eight as the 1792 currency act does. Who is going to dispute it with me?

http://www.antiquityperioddesigns.com/store/images/CFD-539-F.jpg

I can tell you the postal service agrees with me that substance is represented by a one dollar Fox stamp.

https://encrypted-tbn2.gstatic.com/shopping?q=tbn:ANd9GcQLdJs5cEQ3jPE3m1bQA5sHKTxQB0o OCl6-kni9JumME98QrHBX&usqp=CAE

I doubt if this kid comes close to having 72 million Fox stamps in his possession. Or 72 million pieces of eight either.

[crimethink]

Articles like this are like promoting the lottery.
They highlight one guy who "won" (assuming it's even true to begin with, which I doubt) to give you the subtle impression that if he can do it, so can you.
Afterall, aren't you smarter than a 17 yr old?

The Wall Street Casino is worse than the lottery, since the stakes are higher, and for everyone, whether we like it or not.

[JohnQPublic]

EXCLUSIVE: New York Mag’s Boy Genius Investor Made It All Up

"So that’s that. There was no $72 million, no “eight figures,” not even one figure. The story is already coming unglued as the commenters on New York’s site hammer the reporter for even thinking this was possible. New York has now altered its headline to back away from the $72 million figure but the story itself remains. Even if this working-class kid had somehow started with $100,000 as a high school freshman on day one at Stuy High, he’d have needed to average a compounded annualized return of something like 796% over the three years since. C’mon, man."

Read more at http://observer.com/2014/12/exclusive-new-york-mags-boy-genius-investor-made-it-all-up/#ixzz3M2EKo6si
Follow us: @newyorkobserver on Twitter (http://ec.tynt.com/b/rw?id=bgPjROrI8r44uZacwqm_6l&u=newyorkobserver) | newyorkobserver on Facebook (http://ec.tynt.com/b/rf?id=bgPjROrI8r44uZacwqm_6l&u=newyorkobserver)




Read more at http://observer.com/2014/12/exclusive-new-york-mags-boy-genius-investor-made-it-all-up/#ixzz3M2E5r2aA
Follow us: @newyorkobserver on Twitter (http://ec.tynt.com/b/rw?id=bgPjROrI8r44uZacwqm_6l&u=newyorkobserver) | newyorkobserver on Facebook

(http://ec.tynt.com/b/rf?id=bgPjROrI8r44uZacwqm_6l&u=newyorkobserver)

[Neuro]

I can define a dollar as a piece of eight as the 1792 currency act does. Who is going to dispute it with me?

http://www.antiquityperioddesigns.com/store/images/CFD-539-F.jpg

I can tell you the postal service agrees with me that substance is represented by a one dollar Fox stamp.

https://encrypted-tbn2.gstatic.com/shopping?q=tbn:ANd9GcQLdJs5cEQ3jPE3m1bQA5sHKTxQB0o OCl6-kni9JumME98QrHBX&usqp=CAE

I doubt if this kid comes close to having 72 million Fox stamps in his possession. Or 72 million pieces of eight either.
Define it as you like. Upper right corner works for me. If you prefer 1792 instead of today, fine, why not?

[PatColo]

I see this story has been bedunked, but I was going to add (as palani already did) something about his ability to contract, as a minor... did his parents cosign for the swank apartment lease, which they wouldn't allow him to live in? Why not rent a multi-bedroom swanky place for the whole family... Beverly Hillbillies like?

And his commodity broker contract; did they cosign, putting their entire family's net worth in the boy's hands?

And on his name, "Mohammed Islam", well Mo's are a dime a dozen from scary-moozlemist countries; but family name "Islam" to boot? I don't believe I've ever heard that as a family name before? Name changer?

I'm thinking maybe the hoaxters behind this joozmedia-promoted "story" were planning next, once young "Mo' Islam" turned 18 and opened his hedge fund... the goy cash comes pouring in, maybe they facilitate some fantastic initial returns for a few months or whatever's optimal to let their client base/cash snowball, then they pull some swindle which enriches themselves fantastically & leaves their goy clients holding the (empty) bag? Oh, and all the "blame" would be placed on that scary-moozlemismist swindler, "Mohammed Islam". :D

DOH!! A paparazzi was able to sneak this rare & coveted pic of boy wonder.... :o


http://e08595.medialib.glogster.com/media/34/34e34bcd40663a5206ac34740d0e3fb8eaee8e629ccd3965e3 e715c8dde7deaa/jewish-boy-religious-pr81054-jpg.jpg

[palani]

Define it as you like. Upper right corner works for me. If you prefer 1792 instead of today, fine, why not?

Your response places you in a civil law country (no crime exists without a statute). I live in a common law country (where custom provides the law).

Therein lies the difference. You do what you are told. I do as my ancestors did. Honor your father and your mother.

[osoab]

Made great headlines for the lemmings.


http://www.zerohedge.com/sites/default/files/pictures/picture-5.jpg (http://www.zerohedge.com/users/tyler-durden)

17-Year-Old Trading Genius Who "Made " $72 Million Actually Just "Made It All Up" (http://www.zerohedge.com/news/2014-12-16/17-year-old-trading-genius-who-made-72-million-actually-just-made-it-all)

Submitted by Tyler Durden (http://www.zerohedge.com/users/tyler-durden) on 12/16/2014 - 08:41

http://www.zerohedge.com/sites/default/files/imagecache/fp_thumb/images/user5/imageroot/fullsizerender4.jpg (http://www.zerohedge.com/news/2014-12-16/17-year-old-trading-genius-who-made-72-million-actually-just-made-it-all)


After the entire world learned that young trading whiz-kid Mohammed Islam had "made" $72 million, certainly including the IRS which would promptly come looking for the $36 or so million it was due, the alleged megatrader, who got just the wrong 15 minutes of fame, scrambled to set the record straight, and explained the instead of making money, he actually made nothing, he just made it all up: to wit: "Is there ANY figure? Have you invested and made returns at all? No. So it’s total fiction? Yes. I run an investment club at Stuy High which does only simulated trades."

[EE_]

Made great headlines for the lemmings.

The MSJM certainly isn't trying to gain any credibility.
Why would the MSJM push a story like this that wasn't verified?

https://socioecohistory.files.wordpress.com/2013/08/msm-ministry_of_propaganda.jpg?w=350&h=241

[singular_me]

if his simulations are plausible, he'll get a job as a stock broker very quickly. Good stun... although kinda scary to imagine that wall street may have found another "financial genius" to doom the world

[ShortJohnSilver]

This is why you should trust the mainstream media, which always checks it sources carefully, and not bloggers who are unregulated and can't possibly be considered on the same level as professionals.

[Neuro]

Your response places you in a civil law country (no crime exists without a statute). I live in a common law country (where custom provides the law).

Therein lies the difference. You do what you are told. I do as my ancestors did. Honor your father and your mother.
Define it as you like=Do what you are told

Really? ;D

Which country do you live in then? What government does your country have? What is the population?

Did your mother and father define the dollar like you do?

[Silver Rocket Bitches!]

Simulated trades, that's rich. Where'd the part about the apartment and luxury car come from? Taking his friends out to eat $600 caviar?

[Twisted Titan]

Simulated trades, that's rich. Where'd the part about the apartment and luxury car come from? Taking his friends out to eat $600 caviar?

where have you been??

This kid was referencing his digital life and buddies on The Sims.

[osoab]

The MSJM certainly isn't trying to gain any credibility.
Why would the MSJM push a story like this that wasn't verified?

https://socioecohistory.files.wordpress.com/2013/08/msm-ministry_of_propaganda.jpg?w=350&h=241

This helps push the muppets into an all time high market. Need some more buyers for those top sellers.

[palani]

Which country do you live in then? What government does your country have? What is the population?

Did your mother and father define the dollar like you do?

Nobody lives in any country. Citizens are a dead political (aka corporate) legal fiction. My parents were too busy living to worry about dollars but mostly they spent silver coins.

[Neuro]

Nobody lives in any country. Funny! Because above you just wrote "I live in a common law country".

[palani]

Funny! Because above you just wrote "I live in a common law country".

But I thought time was a factor in your concept of definition. Were these statements made at the same time or different times? Could each statement possibly be true at the time it was made? Don't you believe that an ounce of gold at $1,200 and an ounce of gold at $1,250 at a later time is acceptable?

[govcheetos]

Palani is correct. A dollar is 371 4/16 grains of silver. Over time the masses have been slowly misdirected to the benefit of the manipulators.

Try and find Coin's Financial School by W.H. Harvey or even better Pieces of Eight by Edwin Viera. Coin's Financial School is on a thread here somewhere available to read online. The first few pages plainly describe what is a dollar. If you read further you will become overwelmed with feelings of dread as you realize how bad things are now especially compared to what the book was protesting when published in 1894.

Both contain truth pure as the driven snow. Will give you a great perspective in how things are and how they appear to be. Makes The Creature from Jekyll Island seem much more as an introductory.

[Neuro]

But I thought time was a factor in your concept of definition. Were these statements made at the same time or different times? Could each statement possibly be true at the time it was made? Don't you believe that an ounce of gold at $1,200 and an ounce of gold at $1,250 at a later time is acceptable?
Sure!

[Neuro]

Palani is correct. A dollar is 371 4/16 grains of silver. Over time the masses have been slowly misdirected to the benefit of the manipulators.

Most people are not prepared to exchange their silver at that rate. But I tell you what I'll buy $100 worth of Silver from you for 350 grains of silver a dollar. How is that for you?

[palani]

Most people are not prepared to exchange their silver at that rate.
I see you don't understand the historical perspective.

At the time a dollar a day was considered the wage of a man. Why else would gas be $.15 and candy bars and soda pop a nickel?

With a $500 a day daily fictional wage you can get a $5 Starbucks, buck candy bars and $2 sodas.

At a buck a day you work for your living.

At $500 a day you sit on your can and get obese.

At a buck a day you go home to a wife and kid at the end of the day.

At $500 a day you get to spend time with her divorce attorney and spend time with the kids twice a week.

But then it is your choice. Which system do you choose?

[Neuro]

I see you don't understand the historical perspective.

At the time a dollar a day was considered the wage of a man. Why else would gas be $.15 and candy bars and soda pop a nickel?

With a $500 a day daily fictional wage you can get a $5 Starbucks, buck candy bars and $2 sodas.

At a buck a day you work for your living.

At $500 a day you sit on your can and get obese.

At a buck a day you go home to a wife and kid at the end of the day.

At $500 a day you get to spend time with her divorce attorney and spend time with the kids twice a week.

But then it is your choice. Which system do you choose?
Tell me if you manage to convince the station manager to sell you gas for $0.15, and I'll seriously consider your question...

[Dogman]

Tell me if you manage to convince the station manager to sell you gas for $0.15, and I'll seriously consider your question...

I remember "Gas" wars in the mid 1960's that gas sold for $0.15!

:)

Out of context!

Sorry!

Carry on!

;D

[palani]

Tell me if you manage to convince the station manager to sell you gas for $0.15, and I'll seriously consider your question...

Best I can do now is $.20. I have to find an agent to convert my two silver dimes to paper money though.

There is a restaurant in Wisconsin I believe that uses real money on their menu. And if the gas station operator could find trained cashiers who could tell silver from nickel there would be less problems.

[Neuro]

Best I can do now is $.20. I have to find an agent to convert my two silver dimes to paper money though.

There is a restaurant in Wisconsin I believe that uses real money on their menu. And if the gas station operator could find trained cashiers who could tell silver from nickel there would be less problems.
Seems like your old world choice comes with some serious limitations re life quality. Besides paying $.20 for gas vs $.15 when you only make $1 per day really sucks. Unless you can convince the station manager to throw in a soda for the change. But then your wife would probably nag you for drinking expensive soda every time you fill the car up (some things don't change)...

[7th trump]

Palani is correct. A dollar is 371 4/16 grains of silver. Over time the masses have been slowly misdirected to the benefit of the manipulators.

Try and find Coin's Financial School by W.H. Harvey or even better Pieces of Eight by Edwin Viera. Coin's Financial School is on a thread here somewhere available to read online. The first few pages plainly describe what is a dollar. If you read further you will become overwelmed with feelings of dread as you realize how bad things are now especially compared to what the book was protesting when published in 1894.

Both contain truth pure as the driven snow. Will give you a great perspective in how things are and how they appear to be. Makes The Creature from Jekyll Island seem much more as an introductory.

Blah blah blah......that 371 4/16 grains of silver is only worth 100 copper pennies. The same for the fiat paper dollar thats backed by oil......just 100 copper clad pennies.

The dollar didnt change....its still worth 100 copper clad pennies....100 cents.
Nothing changed for the dollar....except inflation which is the cost of make something.

You rubes have been hood winked about gold and silver money again and didnt even know it!

The gold, the paper, the silver dollar ALL have the purchase power of 100 pennies.
Only a fool will argue a gold dollar is worth more than a paper dollar as the gold itself is traded higher.

I essence they are correct.....gold is outdated and extinct as money when all of the variants are worth only 100 cents.
There is no significants in "real money vs fake money......its all worth 100 cents at the end of the day.

Theres absolutely nothing in the US constitution that says only US currency must only be gold or silver.
If there is .........please show me...and I dont want to see Article 1 section 10 as that doesnt say anything to the nature of US currency must be gold or silver.....try again!

[palani]

Blah blah blah......that 371 4/16 grains of silver is only worth 100 copper pennies.

Had you been raised on a farm you might know that when you haul a load of corn to the elevator for storage you cannot come back the next month and demand that number of bushels of soybeans. It don't work that way.

[7th trump]

Had you been raised on a farm you might know that when you haul a load of corn to the elevator for storage you cannot come back the next month and demand that number of bushels of soybeans. It don't work that way.

What ever that suppose to mean.
At the end of the day a fiat reserve dollar is still worth 100 pennies and a gold dollar is still only worth the same 100 pennies.

A dollar is a dollar is a dollar..........100 pennies!

The 100 pennies doesnt change if the dollar is a gold piece or a silver piece or paper of any printed party.

The idea of real money vs fake money is irrevalent.....and only fools argue that position.

[palani]

What ever that suppose to mean.

A bushel is a bushel right? So what does it matter if it be corn, beans or oats?

An acre is an acre right? So what does it matter if it located in the middle of the Mojave desert or in downtown Manhattan?

A gallon of water is the same everywhere. Does that mean a man dying of thirst values it more than one sailing the Pacific ocean?

[7th trump]

A bushel is a bushel right? So what does it matter if it be corn, beans or oats?

An acre is an acre right? So what does it matter if it located in the middle of the Mojave desert or in downtown Manhattan?

And so what does this have to with going back and getting soy beans?

[palani]

And so what does this have to with going back and getting soy beans?

You deposited a bushel. Using your theory what matters what commodity you get back so long as it is equal to one bushel?

[7th trump]

A bushel is a bushel right? So what does it matter if it be corn, beans or oats?

An acre is an acre right? So what does it matter if it located in the middle of the Mojave desert or in downtown Manhattan?

A gallon of water is the same everywhere. Does that mean a man dying of thirst values it more than one sailing the Pacific ocean?

Yeah sure one values it more....but we arent talking personal value....we're talking the dollar, for everyone, is only worth 100 pennies.

So you go and use a US treasury minted 1 dollar gold piece to buy a 1 dollar loaf of bread....you're the foolish one to use the gold dollar to buy the loaf of bread........dont think you can legally go and steal more bread to compensate the value of the metal........it doesnt work that way....you'll be charged for theft and prosecuted.

[palani]

we're talking the dollar, for everyone, is only worth 100 pennies.
And a bushel contains 4 pecks or 32 quarts or 64 pints. So who cares what is actually in a bushel because all bushels contain 64 pints. See what I mean? Your argument is a non argument.

As a matter of fact consider the dollar to be a container of SOMETHING. The 1792 Currency Act defines that SOMETHING to be a piece of eight. If you have a dollar you have a piece of eight. The dollar is like a bushel. It is a measure of a thing.

Treasury is the department that defined a bushel. I assume congress defined the dollar rather than Treasury.

http://i57.tinypic.com/2v2h5ph.jpg



So you go and use a US treasury minted 1 dollar gold piece to buy a 1 dollar loaf of bread....you're the foolish one to use the gold dollar to buy the loaf of bread........dont think you can legally go and steal more bread to compensate the value of the metal........it doesnt work that way....you'll be charged for theft and prosecuted. The storekeeper is foolish to place a value of a dollar on a loaf of bread unless he expects to be paid in non-money. A dollar is the value of mans labor for a day. Who would work a day to end up with a loaf of bread at the end?

[zap]

MSn said it was a Bogus story.