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High schooler who made $300K trading penny stocks under his desk
- lazyant 12y agoSummary is in the middle: "Smartphones have exacerbated the monkeys and typewriters problem," says says Paul Kedrosky, a veteran investor. "Given enough people with smartphones, a teen from New Jersey will turn his bar mitzvah money into $300,000, purely by chance."
- cylinder 12y agoFunny, I was doing this in HS in 2003. I was one of the few kids with a cell phone (Nokia), I'd quietly dial E-Trade's automated line to check prices on my stock portfolio. Didn't make 300k though.
- coralreef 12y agoMark Zuckerberg: My friend Eduardo made three hundred thousand dollars betting oil futures one summer and Eduardo won’t come close to getting in. And the ability to make money doesn’t impress anybody around here. Erica Albright: Must be nice. He made three hundred thousand dollars in a summer. Mark Zuckerberg: He likes meteorology. Erica Albright: You said it was oil futures. Mark Zuckerberg: You can read the weather, you can predict the price of heating oil.
- CmonDev 12y agoReads like a spammy comment of type of "Mom made 15k while staying at home".
- sireat 12y agoThis sounds very close to the late 90s penny stock pusher: http://en.wikipedia.org/wiki/Jonathan_Lebed http://en.wikipedia.org/wiki/Jonathan_Lebed Now maybe this new kid was not as nefarious as Lebed but pushing your own penny stock agenda is given when you play to win. Only question is whether you slip under SEC radar. The fact that he is starting a $2,000 newsletter is pretty much an indication that whatever edge he had is gone.