NYC High School Student Scores Big From Trading Stocks During Lunch
Update: He lied about the whole thing.
In their 10th edition of “Reasons To Love New York,” New York magazine featured Mohammed Islam, a senior from New York’s prominent Stuyvesant High School as their 12th reason why New York is a city where dreams are made. While most high school students spend their lunch hour gossiping and catching up on the latest pop culture, Islam traded stocks and earned $72 million.
A child of Bengali immigrants, Islam bought himself a BMW, despite not having a license and rents a Manhattan apartment although his parents will not allow him to move out yet. Besides his car and apartment, Islam enjoys luncheons with caviar and fresh squeezed apple juice. Much like Jordan Belfort who wrote and inspired the biopic, Wolf Of Wall Street, Islam started trading penny stocks at an early age. His LinkedIn reports:
“I have always been interested in the financial markets since I was first introduced by my cousin. I was 11 when I first opened my own account and started trading. I paper traded a while before that. I followed the market, hunted for opportunities, used everything from fundamental analysis to technical analysis and price action to speculate in the markets. I have a passion to trade, a passion for understanding the markets and a passion for making money.”
After losing money he earned from tutoring, Islam took a hiatus from stocks. During his break, he studied modern finance and how to be a hedge fund manager. He says of the his break from stocks and learning the teachings of Paul Tudor Jones: “I had been paralyzed by my loss. But he was able to go back to it, even after losing thousands of dollars over and over. Paul Tudor Jones says, ‘You learn more from your losses than from your gains.’”
Once Islam got back into the game, he began to trade oil and gold stocks. Although it is publicized that he earned $72 million, he would only confirm that his net worth is in the “high eight-figures.” While his net-worth continues to grow, Islam plans to launch a hedge fund with two friends and earn his broker-dealer license by June 2015.
As for his spending habits, Islam shared with fans via FB :
“It has came to my attention that some people disprove of my spending habits. As a young man I am just beginning to make friends and understand the world, develop philosophy- but later in life I promise that I will lead a humble existence and dare not to spend lavishly and needlessly. Riches are not everything. The one piece of advice that you should learn from me at this young age, is not to be jealous of me. There was a great deal of luck involved and I did not expect to become famous- so rapid, that it was almost overnight. In the future, I will be spending on just causes, and not upon myself. That is my promise to you all. #Mohammed #Islam”