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17 Year Old Makes $72 Million Trading Stocks

Discussion in 'BlackHat Lounge' started by Zwielicht, Dec 15, 2014.

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  1. Zwielicht

    Zwielicht Moderator in Training Jr. VIP Premium Member

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    Update: The story has finally been confirmed to have been fabricated. It looks like my 4th theory was half right. He made up the story, although he didn't do it to capitalise on his publicity. This was all just bad journalism and a 17 year old's fantasy gone wrong.

    Warning: If You Think That These Stories or Threads Are a Waste of Time, Do Not Bother Reading or Posting.
    [​IMG]

    If you don't know who Mohammed Islam is, then that doesn't surprise me. He'a 17 year old high school student from New York who purportedly made $72 million in the stock market. The title sums up the story, although if you want to read the full story, then you can read it here: http://www.dailymail.co.uk/news/art...ION-trading-stocks-lunch-breaks.html#comments

    Many people have stated that this story is far-fetched and fictitious while there are others who say that this story is genuine. Because of this, I thought it would be fun to post theories on the story that I've collected from around the Internet (as well as include my own theories) and posting them here.

    Theory #1: The Story Is True
    The kid could be an investment genius/savant who worked hard to achieve his goal. After all, according to the story, he has been working on this since he was 9 years old. Of course, there are many problems with this theory that make it unlikely to be true.

    Theory #2: The Story Is Partially True, Although He Had A Significant Starting Capital
    Someone on Reddit mentioned this and there was even one person who joked about him starting with his rich parent's $1 billion and ending up with only $72 million. Stories about rich people getting richer by using money given to them by mummy and daddy are pretty common, so I wouldn't rule this theory out entirely.

    Theory #3: This Is All A Ploy To Get Undisciplined People To Gamble On The Stock Market
    This is my own theory about the situation. People on the Internet can be duplicitous and manipulative in order to trick a large number of naive people into doing something they wouldn't normally do. In this case, if you find an actor who can pose as a 17 year old high school student, create a fictitious story about his success (making something look so easy that a high school student could do it), and get enough inside people in on this, then you can manipulate enough people to do what you want them to do.

    Theory #4: The Kid Is The One Who Fabricated This Story In Order To Sell His "Secrets"
    We've all seen those shoddy websites where someone says they made a lot of money doing something and you can too if you buy their product, but what if this guy kicked it up a notch? I would need to do more research on all of this to confirm the veracity of it (such as looking at the date the accounts were created; fake stories usually use new accounts or accounts that were previously inactive).

    Now, I know these stories are often a distraction from our work (spending more time wishing than doing), but what are your theories or opinions on this story?

    Edit: I truncated this post to make it easier to read.
     
    Last edited: Dec 16, 2014
  2. Techxan

    Techxan Elite Member

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    My opinion is that you wasted 20 mins of your life writing that and I foolishly wasted 20 seconds of mine reading it.
     
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  3. mickyfu

    mickyfu Jr. VIP Jr. VIP Premium Member

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    Not bothered wasting my time reading the full thing or story, however if a 17 year old has made so much money trading stocks, he has not started up with paper round money, so my money is on theory #2.
     
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  4. SocialMediaManager

    SocialMediaManager Elite Member

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    This made me laugh "Made 72 Million dollars in lunch breaks " lol
     
  5. FutureProofSeo

    FutureProofSeo Jr. VIP Jr. VIP Premium Member UnGagged Attendee

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    Probably got them all from Central Park, free capital waiting for anyone with the right knowledge of the FSER. The Foreign Stick Exchange Rate
     
  6. Capo Dei Capi

    Capo Dei Capi Power Member

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    If his dad didn't like finance so much, why would he open a trading account for his kid under his name and let his kid use it.
     
  7. Bucketbot

    Bucketbot Regular Member

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    Glad I just skimmed over the text.
     
  8. lord1027

    lord1027 Elite Member

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    You sure are fast.
     
  9. Zevoltai

    Zevoltai Jr. VIP Jr. VIP Premium Member

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    Kid went to the high school I graduated from. The mean SAT scores in that school range from a 2050-2150/2400 (~1400/1600) on an annual basis. The students that make up upper quartile of that school have a dozen AP exams under their belt, take Real Analysis, Lagrangian Mechanics, Operating Systems, and Multivariable Calculus in their senior years, and are national level competitors in fencing/wrestling/swimming etc. He's pulling some ridiculous returns but he's not doing this on his own money, it's more like a fund thrown together by some of the most brilliant kids of his generation.

    Theory #2
     
    Last edited: Dec 15, 2014
  10. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Premium Member

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    Well I came into this thread because of the thread title but am now leaving disappointed.

    I thought I had just found an new method. I live next to a park with lots of trees. Now my dream is dashed.
     
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  11. LostConnection

    LostConnection Senior Member

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    Probably skimmed through it like I did after the first sentence.
     
  12. SharkServers

    SharkServers Regular Member

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    Ehh. Was looking for some stick trading tips, but stocks?? Seriously? :p
     
  13. BassTrackerBoats

    BassTrackerBoats Moderator Staff Member Moderator Jr. VIP

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    It's an Algo, of course it can be gamed.
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    I saw the title in the NY Daily News website and didn't bother reading it but my first impression was that the kid looks like he is 40.
     
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  14. Capo Dei Capi

    Capo Dei Capi Power Member

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    Why do newspapers even carry the story when it has so many holes in it, and they didn't even do anything to verify it.
     
  15. cashmoney2009

    cashmoney2009 Regular Member

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    trading sticks wow, very nice! Wonder why kind of "sticks' he got :p
     
  16. PhiAvari

    PhiAvari Newbie

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    I don't care. I care how much i earn per month ....
     
  17. ShadeDream

    ShadeDream Elite Member

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    And I did not waste my time thanking you for your time.

    On a side note when I saw the picture of the dude first thing that came to mind was Coming to America lol. Epic movie!
     
  18. Gogol

    Gogol Elite Member

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    Ah crap I thot a new adult method :(
     
  19. Zwielicht

    Zwielicht Moderator in Training Jr. VIP Premium Member

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    Many of them are in a rush to find content, so they usually collect any garbage they find on the Internet and post it in their papers (perpetuating the story even further). If I'm correct, this story was originally posted by a Blogger, too.

    Very funny, W130SN! :D

    Yes, I need to stop creating threads in the middle of the night, I'm usually more careful about typos in the title.
     
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  20. Ricky Roma

    Ricky Roma Regular Member

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    my bet is on #4
     
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