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FM
Former Member
 

High school student scores $72M playing the stock market

 

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He’s the teen wolf of Wall Street.

A kid from Queens has made tens of millions of dollars — by trading stocks on his lunch breaks at Stuyvesant High School, New York magazine reports in its Monday issue.

Mohammed Islam is only 17 and still months away from graduating — but worth a rumored $72 million. “The high eight figures,” is as specific as the shy and modest teen would get when asked his net worth.

Islam bought himself a BMW but doesn’t have a license to drive it. And he rented a Manhattan apartment, though his parents, immigrants from the Bengal region of South Asia, won’t let him move out of the house yet.

Still, the cherubic prodigy is living, and dreaming, large.

Modal Trigger

Mohammed IslamPhoto: LinkedIn

“What makes the world go round?” Islam asked in the interview, explaining his preference for trading and investment over startups. “Money. If money is not flowing, if businesses don’t keep going, there’s no innovation, no products, no investments, no growth, no jobs.”

Islam and a pair of other young, Wall Street wolf-cub buddies eat regularly at hot spot Morimoto, where they enjoy $400 caviar and fresh-squeezed apple juice.

They hope to start a hedge fund in June, after Islam turns 18 and can get his broker-dealer license.

Replies sorted oldest to newest

There is a youngster who is working with me, he recieved like over 200 grand for an insurance settlement. He left the job four years ago and started to day trade, about two months ago he returned assking me to work again, he is broke despite one time he was up like $900,000.00

Chief
Originally Posted by Chief:

There is a youngster who is working with me, he recieved like over 200 grand for an insurance settlement. He left the job four years ago and started to day trade, about two months ago he returned assking me to work again, he is broke despite one time he was up like $900,000.00

man had it all

FM
Trading is tricky business. One had to be balanced in their activities. Hopefully this guy don't spend on meals all the time like his $400 cavier. Still impressive what he did.
FM
Originally Posted by Chief:

There is a youngster who is working with me, he recieved like over 200 grand for an insurance settlement. He left the job four years ago and started to day trade, about two months ago he returned assking me to work again, he is broke despite one time he was up like $900,000.00

I know of a couple of guys who took out home equity loans to do online trading(they called it "play the stock market"). They now live in apartments.

FM

Same here. As soon as I had made enough money to pay off my house with one bank transfer, I started to slow down with how hard I used to work. I used to enjoy sharing a bottle of champagne with my wife on a Saturday whilst we cooked lunch. But after the fun had gone out of that, we resorted back to our normal conventional life style.

Mr.T
Originally Posted by Mr.T:

Same here. As soon as I had made enough money to pay off my house with one bank transfer, I started to slow down with how hard I used to work. I used to enjoy sharing a bottle of champagne with my wife on a Saturday whilst we cooked lunch. But after the fun had gone out of that, we resorted back to our normal conventional life style.

So who you does share the champagne with now? Banna, even when I drank alcohol I couldn't find the taste for champagne, might as well drink a cola.

cain
Originally Posted by cain:
Originally Posted by Mr.T:

Same here. As soon as I had made enough money to pay off my house with one bank transfer, I started to slow down with how hard I used to work. I used to enjoy sharing a bottle of champagne with my wife on a Saturday whilst we cooked lunch. But after the fun had gone out of that, we resorted back to our normal conventional life style.

So who you does share the champagne with now? Banna, even when I drank alcohol I couldn't find the taste for champagne, might as well drink a cola.

we all know kwame have a boy friend i wonder

FM

It's impossible to lose in the stock market once you made a 100% gain on your principal.

The classic view has always to buy low and sell high, or sell high and buy low if shorting.

if your investment doubles, then you sell off 50% thereby retaining your principal. You are now free to play around and be super aggressive with the other 50%.

If that 50 % doubles, you do the same again, or wait until you hit a million.

When you hit a million, call me for further advice

 

 

 

FM
Originally Posted by cain:
Originally Posted by Mr.T:

Same here. As soon as I had made enough money to pay off my house with one bank transfer, I started to slow down with how hard I used to work. I used to enjoy sharing a bottle of champagne with my wife on a Saturday whilst we cooked lunch. But after the fun had gone out of that, we resorted back to our normal conventional life style.

So who you does share the champagne with now? Banna, even when I drank alcohol I couldn't find the taste for champagne, might as well drink a cola.

I hardly drink it now. The price of a bottle is now silly money. 

Mr.T
Originally Posted by cain:
Originally Posted by Mr.T:

Same here. As soon as I had made enough money to pay off my house with one bank transfer, I started to slow down with how hard I used to work. I used to enjoy sharing a bottle of champagne with my wife on a Saturday whilst we cooked lunch. But after the fun had gone out of that, we resorted back to our normal conventional life style.

So who you does share the champagne with now? Banna, even when I drank alcohol I couldn't find the taste for champagne, might as well drink a cola.

Cain you and I have quite a few things in common.

Chief
Originally Posted by Django:
Originally Posted by Chief:

I like to eat a little bit and live long.

Chief you seem very conservative,that is the way

to go,i share the same view.

In general I take the middle ground. Some people gets greedy and then they ass either loose everything or end up in Jail.

Chief
Originally Posted by TI:

It's impossible to lose in the stock market once you made a 100% gain on your principal.

The classic view has always to buy low and sell high, or sell high and buy low if shorting.

if your investment doubles, then you sell off 50% thereby retaining your principal. You are now free to play around and be super aggressive with the other 50%.

If that 50 % doubles, you do the same again, or wait until you hit a million.

When you hit a million, call me for further advice

 

 

 What is your hourly rate?

 

Chief

Guy must be a PPP hack

 

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, 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.

http://observer.com/2014/12/ex....VI-fI-wLaU0.twitter

Sunil

I knew the whole thing was fishy.  TI is trying to boost his business and get customers; Chief fell for it and asked for his hourly rate.    Let's crucify TI for posting a false story.   

FM
Originally Posted by RiffRaff:

and I was about to sell the house and start investing

Later on you might have to sell your buckta too.

FM
Last edited by Former Member
Originally Posted by Observer:

I knew the whole thing was fishy.  TI is trying to boost his business and get customers; Chief fell for it and asked for his hourly rate.    Let's crucify TI for posting a false story.   

You propa stupid TO THINK THAT i FALL FOR ANYTHING.

 

I was trying to be the agent for TI.

mY BUSINESS IS TO PLACE PEOPLE TO WORK, AND i ADD 40 % ON TOP OF WHAT THEY ARE ASKING.

Chief
Originally Posted by Mr.T:

Is any of this guy's parents from Guyana? He shows PPP kind of behaviour.

You make me lost any hope that you are smart.

The PPP never admit that they steal and lie.

Chief
Originally Posted by Chief:
Originally Posted by TI:

Haha, he will grow up to be a true cackman fullahman��

Yo give me a shout.

Let's get together before the year end.

Salaams, I am in Manhattan today. I will get in touch.

FM

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