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Noobs with Boobs
From the Slope of Hope: Here are some snippets from an interview from New Yorker magazine with the queen of trading on the cusp, 16-year-old Rachel Fox (as in Stocks; it rhymes, get it?), the shoeshine girl of the modern age. Emphasis added by me.
How did you even get involved in stock-trading?
My parents explained the stock market to me because it’s such a big, important part of life. They didn’t expect me to take such a liking to the whole day-trading idea, though.
So, like, what's your strategy? Do you have a Bloomberg terminal?
Well, I don’t like trading stocks that are very news-dependent. I trade on the technical analyis of stocks. (Lord in heaven, give me strength - Ed.)
Do you trade penny stocks?
OH GOD, OF COURSE NOT. No, I go to Yahoo Finance every morning, that's my thing. And then I go to my trading platform [Scottrade] and do the technical stuff in there. (Because, like, ScotTrade is, like, so awesome. It has, like, the best charts, y'know? - Ed.)
And this is fun?
Definitely. There are certain things making it easier for common people who work and have a day job to do this as well. I'm not just a typical guy who has a suit and goes to Wall Street. My point in writing this blog is not trying to compete with the finance professionals. It’s more just to inspire people to trade.
Who do you go to for investing advice?
Well, um, really ... nobody? I mean, I'd have to think about that.
Any people you really look up to? Who's your investing idol?
I heard a story about Warren Buffett, that he has none of his college degrees hanging on his wall. He only has his certificate for public speaking, which is so awesome and inspiring. (Buffett. Naturally. Although I'm not quite clear on why hanging this particular certificate on the wall would give anyone an emotional boner. But, then again, I'm Tim on a Whim, not Fox on Stocks - Ed.) If you can learn public speaking, you don't have to have a ton of education to do well.
You couldn't let go, huh?
It’s hard to master the psychology. You’ve got to know when to step out of things. (Not true, Ms. Fox. You simply have to wait for people who have absolutely no business engaging in a particular vocation professing to be an expert. It's a cinch. - Ed.)
I bet you got a lot of calls after your CNBC appearance.
I'm going to keep those confidential, but there may or may not have been some requests. (Very shrewd, Ms. Fox, very shrewd! Keep those cards close to that chest that the men of America are scrutinizing - Ed.)
So when do you start managing other people's money?
[Laughs.] Maybe I’ll start a hedge fund.
So - - look - - I've got nothing against sixteen year olds. I was one once myself, and at the time, I wrote my first book - the first of a couple dozen, actually (and that first book, incidentally, argued for the importance of computer-to-computer communications and how it would transform the world, way back in 1982 - so thank you very much). But, having done charting for a quarter-century now, I'd rather not be told by a doe-eyed girl how to draw a trendline........or what stocks to buy (errr, short) for my own hedge fund.
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She gets her stock tips on Pinterest. Sorry, had to say it.
On a serious note, good for her. She is young and will inevitably learn more through experience. She's responsible for her wins and losses so as long as she isn't whining about how unfair the market is, who cares? (There are enough of us on here that do that.)
"Quick buck artists come and go with every Bull market. The steady players make it through the Bear markets."
Lou Mannheim - 'Wall Street' (1987)
http://www.hark.com/clips/fbglbjjqmx-quick-buck-artists
Sounds like a bunch of guys that bet their mortgage without the wife knowing are jealous. I really see no reason to bash her. She has a point not listening to stock picking services. If you made tons of $ why would you go to the trouble and headache of trying to sign up investors for $30 a month?
Who do you go to for investing advice?
Well, um, really ... nobody? I mean, I'd have to think about that.
Greatest bit of investment advice I have heard in years. No sarc.
This/she is a huge contrary indicator. Market top has been reached.
She's a cute kid who's smokin' the pro's, what's not to love?
It ain't like she's Jon Corzine...
She can always get a job babysitting if it all blows up.
Her stock will appreciate greatly in about two years.
Long nosejobs...
http://i2.listal.com/image/1827883/600full-rachel-g.-fox.jpg
http://img2-3.timeinc.net/people/i/2008/features/tvblog/080526/rachel_fo...
Either she's just fantastically lucky, or really getting tips from someone in the know... or it could be that ignorance of what most people are being taught in this country's graduate econ and mba schools is actually a tremendous help in not being blinded by sham knowledge.
I mean, Krugman won a Nobel, and he will be regarded as economic history's greatest monster in a decade...
The market is rigged against the reasonably intelligent. That leaves one of two options. She's either a genius or an idiot.
After reading this article, I have formed some conclusions about her but will refrain from elaborating as a measure of good taste.
I'm such a gentleman.
Maybe she's just not that smart? I don't mean that as a slam but I see a lot of really smart people making what end up being bad choices. You can be the smartest guy around, see everything that is going to fukall, and if the entire market is too stupid to see what is obvious to you.... you still get your face ripped off.
In a massively manipulated market the coin toss method can give you reasonable odds. Reading between the lines it sounds like she is the queen of BTFD. In this manipulated market that makes her a winner... so far. Lets ask her again at the end of the year after the great crash of 2013.
Picking on a kid who is showing some motivation. Way to go. That'll teach her! Doesn't she know that her place is hanging out with the flash mobs, beating up old ladies, or sitting on her butt while munching on cheese puffs in between video games.
Seriously, Tim?
He's not picking on her. She is emblematic of the sheep herd gone completely over the cliff. Did you not see the underlined "inspiring common people to trade" section. The reason the MSM jump all over this is it makes "trading" in the incessantly levitated, QE-pumped "market" "fashionable."
+1 for Tim in my book.
I'm having a laugh.
Tim, jealousy is not very becoming.
Off topic, it looks like North Dakota is producing almost as much oil as Iran exports.
http://www.uskowioniran.com/2013/02/iran-estimates-oil-exports-at-840000...
Role model.
At least she's not on a webcam poking bottles up her driptray for pennies.
and she still has that option, if things don't go so well ...
well that beats the bad teeth debate
I was trying to search for her on www.pornhub.com Does she go under another alias?
Rachel Foxy takes on monster black penis, whilst trading stocks that move on no news.
So, they need to have more "common people" put their money in the stock market (and be mauled by AIs)
My only question is... what money?
I remember reading this same article back in the late 90's. It was about a 25 year old who quit his day job to become a day trader, lived in his parent's basement, and made a million dollars. This was at a time where tech IPO's were guaranteed to at least double in value after launch. I remember thinking about how this guy was probably still living in his parent's basement and most likely back to working a day job.
Translation: Bernanke would like the retail investor to believe everything is alright in our centrally planned, command economy.
Keep dangling the carrot of opportunity. As long as the serfs have even a glimmer of hope and believe change is coming in the indeterminate future, they will tolerate anything.
First we had the dangling carrot of retirement, but unlike Boxer we figured out the scam and took our money from the market. The bastards then lower rates to zero forcing some back into stocks with the "hope" of keepng pace with the money printing. Merciless...
She knows about margin, right? If 20:1 is good for the banks, Im sure its good enough for her
What next? Futures trading insights from a school bus driver?
This article signals a market top.
Pervert Pop Quiz: What color is young Rachel's toe nail polish?
"If you can learn public speaking, you don't have to have a ton of education to do well."
The solution to all of life's problems. Wish I'd known that 30 years ago.
She just learned from Obama.
I've laughed more at this ZH article (and the comments, especially tongue punching) than I have in a while.
I think Chairsatan may be channeling his printeresque essence through her - DO NOT BLAME THE GIRL, SHE'S POSSESED BY BEN!
Bread and Circuses.
Nothing else of worth to ponder this fine sunny day. All's well with the world, including the starving Ethiopian children who are likewise inspired by Mandy Smalltits' awesome humble Display of the Triumph of the American Dream .
Not to be the sole voice of dissension here but... am I the only one who thinks that a 16 yr old spending her time doing something meaningful is a refreshing sign?
Would we be happier if she was writing about Snookie?
(note: This is not to say that I will be following her advice.)
Trading "stocks" is meaningful??
how far we have fallen.
Ah, a voice of sanity and reason.
So, what are you doin' at ZH? You must be lost.
Or perhaps you too have youngsters that you wish you didn't have to prod to spend more time in constructive activities.
Anyway, thanks for being a refreshing alternative to the predicatable porn site posters.
My pleasure.
It's nice to know there's still some sane people here.
If she did it without the pushup bra, yes.
Women can't have it both ways, be the whore and the grown-up, but they rarely learn that.
Not if she's a shill to lure the sheep in at the top.
She kinda looks like Snookie @ 16.....
Impressive, sir.
She's confusing brains with a bull market.
Well her numbers are beating many hedge funds.
Beginners Luck? Maybe.
Could also be shrewdness and discipline. And luck.
Relax, this is just entertainment.
Still this one took the cake:
http://www.businessinsider.com/niki-marx-ex-stripper-turned-hedge-fund-m...
Sex sells.
Give me a break. This is nothing more than a "it's so easy a caveman can do it" lure for retail money. Everyone is a broker in a trend. A recent survey here in my area found that a dart thrown at a board outperformed many hedge funds. lol. A sucker is born every minute I suppose. Thanks to BT Barnum for pointing out the ovious.
Never let a massive "bull market" make you think you're a genius.
Ok... now I am sick...
Wow, 33%, that's it? For all this commotion and media blitz over 33%? Give me a fucking break. I turned $3650 pr so into roughly $27,000 last year. This year, well, December, close enough- I started with around $1,600 for fun. Currently I'm at $7,210 after trading, no shorting or options stuff. I was at $8,100 or so a few days ago actually but took a hit from today. Where the fuck can I go to report that shit and clown this girl? I am 25 years old BTW. I have no financial education as far as trading goes, and no series degrees or anything like that even. Anyways enough about my digital number games and gains- this is my first post here. I have been a huge fan for years. This site reminds me I'm not crazy for what is going on in this perceived world. Some VERY smart people here. A lot of which I learned from and have acted on. I'm trying to trade my way into buying some land so I can be self sustaining by 35 years old. This site already has a lot of you who do that, my heroes. Go silver!!
You wanna run with a bit of my money?
$1000 for you and $1000 for YenCross. Winner splits the take 50/50 with me. Loser gets jack shit.
Hah, the stocks I play require a stomach of concrete. I go to war with shorts and MM's all day.
Send me a check.lol