3 ms·
What would it take to make $72M? If you start with $1000 and make a profit of 6% per day for a full year, you're there. Or start with $100 and make 7% per day
by jzwinck 12y ago
What would it take to make $72M?
If you start with $1000 and make a profit of 6% per day for a full year, you're there. Or start with $100 and make 7% per day. But if you can only generate a piddly 1% per day (which itself would be a mind-blowing achievement for any fund manager), you'll need $10M to start.
The article is very, very short on details of what has actually happened here, apart from "Rich people like to hang out with other rich people."
- iamwithnail 12y agoThere's so much that doesn't quite gel about this story. He was trading penny stocks when he was 9? He went off to read high finance books as a result, and then successfully and consistently applied them? What on earth (and who) was he tutoring at 9? And as you say, the returns to do that would be pretty phenomenal.