New York schoolboy who made $72MILLION trading stocks on his lunch breaks

Discussion in 'The Howard Stern Show' started by MutteringJohn, Dec 14, 2014.

  1. MutteringJohn

    MutteringJohn Well-Known Member

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    This story sounds like total Bullshit!!!

    He has not yet reached his 18th birthday.

    But Mohammed Islam, from Queens, New York, has already made an estimated $72million - from trading stocks on his lunch breaks at school, according to New York magazine's Monday issue.

    The 17-year-old, who started dabbling in penny stocks at the tender age of nine, spends most of his breaks at Stuyvesant High School trading oil and gold futures, and small to mid-cap equities.

    Outside of school, he often takes his friends out to dine at Morimoto on 10th Avenue, where they feast on $400 caviar, expensive dishes and freshly-squeezed apple juice.

    During an interview for the magazine;s 10th annual 'Reasons to Love New York issue', Mohammed refused to disclose his exact net worth, but he admitted it was in 'the high eight figures'.

    The successful teenager revealed he had used his incredible wealth to purchase a BMW - which he does not yet have a license to drive - and rent a Manhattan apartment.

    However, his parents, who are immigrants from the Bengal region of South Asia, will not yet allow him to move out of their family home in Queens, according to the New York Post.

    Mohammed has also taken to social media to show off his well-funded, lavish lifestyle - regularly posting videos of him partying, playing poker and dancing with numerous women on Instagram.

    His hard-earned cash has certainly been beneficial to his parents. 'My dad doesn't work now and I tend to help out with things, and futures gives me that incentive,' said the student.

    But despite its advantages, Mr and Mrs Islam are not overly keen on their son's interest in trading.

    'My dad doesn't like [finance] that much,' Mohammed, who has written the phrase, 'More money, less problems', on his Instagram profile, said in an ISSUU interview.

    'He says he is ok with me trading, but my mom is skeptical about the market. But they see it as, if I am good at it, then why not?'

    If money is not flowing, if businesses don’t keep going, there’s no innovation, no products, no investments, no growth, no jobs
    Mohammed Islam
    A year after he started experimenting with penny stocks, Mohammed was introduced to further financial markets by his cousin. He has since developed a 'life-long passion' for trading.

    'What makes the world go round? Money,' he said. 'If money is not flowing, if businesses don’t keep going, there’s no innovation, no products, no investments, no growth, no jobs.'

    On his LinkedIn profile, the student said he rose to success while trading stocks during his lunch breaks because he 'followed the market, hunted for opportunities and used everything from fundamental analysis to technical analysis and price action to speculate in the markets'.

    After having high returns in penny stocks, he moved on to small-mid cap equities, then derivatives, before feeling out the futures market and specializing in oil and gold, he said.

    He added he has now developed 'a passion for understanding the markets and a passion for making money', and trades 'mainly based on volatility and volume'.

    During his interview with New York magazine's, Mohammed revealed his biggest inspiration in the finance world has been Paul Tudor Jones.

    Jones, 60, the billionaire founder of Tudor Investment Corporation, a private asset management firm and hedge fund, ranks as the 108th-richest American, according to Forbes.

    Mohammed said that while he had been 'paralyzed' by his losses when he first started trading, he quickly learned from Connecticut-based Jones's ability to get back into the game again and again.

    'I had been paralyzed by my loss,' he said. 'But [Jones] was able to go back to it, even after losing thousands of dollars over and over.'

    Speaking to Business Insider, he added: 'Jones’s personality and technique are what make him so successful and I aspire to become even one per cent of the man he is.

    'He went through obstacles, yet still came out on top'

    It’s not just about the money. We want to create a brotherhood
    Mohammed Islam
    And despite his massive fortune, Mohammed has no plans to give up trading just yet.

    The teenager said he and his trader friends hope to start a hedge fund in June - when he is old enough to get his broker-dealer license - and intend to make a billion dollars by next year.

    This, of course, will all be done while attending college.

    'It’s not just about the money,' said Mohammed, whose ultimate goal is to pave a path in the financial industry that will enable him to become a reputable hedge fund manager.

    'We want to create a brotherhood. Like, all of us who are connected, who are in something together, who have influence.'



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  2. Thikken Vaney

    Thikken Vaney What's everyone looking at?

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    Lie.

    Kids don't and wouldn't eat caviar.
     
  3. skylarbrie

    skylarbrie VIP Extreme Gold

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    soul brother
     
  4. Rescued Owl

    Rescued Owl VIP Extreme Gold

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    Mohammed Islam ? Guilty !!
     
  5. Calloused Shins

    Calloused Shins Well-Known Member

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    My real name is Jesus Christian. And I endorse this story
     
  6. ScottBaiosPenis

    ScottBaiosPenis Well-Known Member

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    I remember about 10 years ago a similar story it turned out the kid was pumping and dumping penny stocks on Internet forums. When I read penny stocks alarm bells went off
     
  7. MutteringJohn

    MutteringJohn Well-Known Member

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    It's a good thing he made the $72 million on his own because I don't think a trading firm located at One World Trade Center is going to hire someone named Mohammed Islam.
     
  8. h89fvh8dfha8hfv9a0

    h89fvh8dfha8hfv9a0 Xavier's water boy Banned User

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    LITTLE BASTARD.

    The ECIG stocks I bought for around $8 are now down to .20 cents :pissed:
     
  9. BrerJimmy

    BrerJimmy Well-Known Member

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    Mohammed Islam?

    Guilty.
     
  10. remdeprived

    remdeprived Well-Known Member

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    "This story sounds like total Bullshit!!!" is the only believable part.
     
  11. remdeprived

    remdeprived Well-Known Member

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    The improbable story making the rounds today of the 17-year old whiz kid of Wall Street who is rumored to have made $72 million trading the markets, while still in high school, is being widely disputed.

    Mohammed Islam, the alleged teenaged prodigy, said he had no idea where that dollar figure came from and that it's not accurate.

    Instead the figure is believed to be a few million dollars, but Mr. Islam declined to be more specific. "The attention is not what we expected - we never wanted the hype. This was about friends trying to make something exciting together, " Mr. Islam said in an exclusive CNBC interview.

    Mr. Islam and one of his colleagues were scheduled to appear on CNBC's " Halftime Report " following the publication of a New York Magazine profile. The ensuing publicity however, and pre-interview by CNBC, prompted them to reconsider. "We expected a regular article about what we hope to do" in our career, he said. "The way we were portrayed is not who we are." The magazine, in a statement, defended its reporting. "The article portrays the $72 million figure only as a rumor; we changed the headline on the story to reflect more clearly the fact that we did not know the exact figure of how much he had made in trades. The story itself does not specify an amount. 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.

    http://finance.yahoo.com/news/whiz-kid-stock-picker-no-190045689.html
     
  12. Tipsey Russell

    Tipsey Russell VIP Extreme Gold

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    I feel we would have heard of this bastard long before he made 72 million

    somewhere around the 5 million mark I figure
     
  13. unclefreddy

    unclefreddy Well-Known Member

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    That's a funny pic of him. He looks like a South Park character and has a SP name also.
     
  14. Beths Arab

    Beths Arab Well-Known Member VIP Gold

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    He obviously didn't buy any Sirius stock...
     
  15. Horff

    Horff Well-Known Member

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    This is total b.s. I'm sure the IRS will be on a his ass soon though.
     
  16. Macro57

    Macro57 Well-Known Member

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    Mohammed Islam?
    Is this another fictitious identity used in laundering U.S. currency for ISIS?
     
  17. TSSTaylor

    TSSTaylor Active Member

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    You are talking about a stock that went up by 67 fold from it's low. In a 2-3 year period.
     
  18. Beths Arab

    Beths Arab Well-Known Member VIP Gold

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    67 fold!
    Amaaaaaaazing!
     
  19. MutteringJohn

    MutteringJohn Well-Known Member

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    It’s been a tough month for fact-checking. After the Rolling Stone campus rape story unraveled, readers of all publications can be forgiven for questioning the process by which Americans get our news. And now it turns out that another blockbuster story is—to quote its subject in an exclusive Observer interview—”not true.”

    Monday’s edition of New York magazine includes an irresistible story about a Stuyvesant High senior named Mohammed Islam who had made a fortune investing in the stock market. Reporter Jessica Pressler wrote regarding the precise number, “Though he is shy about the $72 million number, he confirmed his net worth is in the ‘high eight figures.’ ” The New York Post followed up with a story of its own, with the fat figure playing a key role in the headline: “High school student scores $72M playing the stock market.”

    And now it turns out, the real number is … zero.

    In an exclusive interview with Mr. Islam and his friend Damir Tulemaganbetov, who also featured heavily in the New York story, the baby-faced boys who dress in suits with tie clips came clean. Swept up in a tide of media adulation, they made the whole thing up.

    Speaking at the offices of their newly hired crisis pr firm, 5WPR, and handled by a phalanx of four, including the lawyer Ed Mermelstein of RheemBell & Mermelstein, Mr. Islam told a story that will be familiar to just about any 12th grader—a fib turns into a lie turns into a rumor turns into a bunch of mainstream media stories and invitations to appear on CNBC.

    Here’s how it happened.





    Read more at http://observer.com/2014/12/exclusi...genius-investor-made-it-all-up/#ixzz3M6DrVywP
    Follow us: @newyorkobserver on Twitter | newyorkobserver on Facebook
     
  20. yaddc

    yaddc Well-Known Member

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    I had to give the kid a duce to get to school. 72 mill my ass.