

Stuyvesant Senior Made $72M Trading Stocks on His Lunch Break - el_benhameen
http://nymag.com/news/articles/reasonstoloveny/2014/mohammed-islam-stock-trading/

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jzwinck
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."

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iamwithnail
There'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.

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sireat
I would love to read more details about this, there is something not quite
right here.

Let's try to imagine a possible scenario:

Kid makes $1M from trading penny stocks by age 15(let's say starting with
10,000k at 12).

Then takes that $1M into $72M trading more serious securities(not enough
liquidity in penny stocks to make $72M).

I could believe $5M figure (Lebed was 15 when he made around a million in late
90s from his penny stock antics) and I could believe he found some
inefficiencies in thinly traded stocks such as penny stocks and even figured a
way to painlessly exit penny stock trades.

I have a hard time believing he found a way to trade to $72M in regular
securities without Other People's Money. (There is only that Japanese guy who
has done something similar)

What I mean that the big money is generally made when OPM is involved. Paul
Tudor Jones (and Buffett earlier in 1950s) and many others have made their
money by taking a cut from successfully managing OPM.

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el_benhameen
[http://observer.com/2014/12/exclusive-new-york-mags-boy-
geni...](http://observer.com/2014/12/exclusive-new-york-mags-boy-genius-
investor-made-it-all-up/)

Whoops.

