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You Know It's A Bubble When...
Because nothing says rational equity markets like a 16-year-old penny-stock-day-trader who turned $10,000 into $300,000 this year...
Meet Connor Bruggermann - the new normal 'investor'...
The son of a former vice president at JP Morgan who worked on the floor of the New York Stock Exchange, 16-year-old Connor Bruggermann could well be the poster-child for what the Fed has wrought on the American public.
As The Verge reports, while his dad warned that with penny stocks "you could make money or lose money very, very quickly," Bruggemann, on the other hand, embraced the chaos. For Bruggemann, as for many others, penny stocks were another outlet for that risky reward seeking. "There is a lot of fraud and manipulation, a lot of them are not legitimate companies," he says. "It could be someone like you or I sitting here saying we have a $5 million deal with Panasonic, when in reality that’s not true." According to the SEC, penny stock scams have surged over the last two years.
At home, in a room he shares with his older brother, Bruggemann has two monitors set up as a trading station. But most of the time, he tells me, "I prefer to trade on my phone."
Risk management...?
"I guess the rule of thumb is, when you invest in a penny stock, expect to lose every dollar you put in. So there is always that risk," he told me. "There have been several times where I put every dollar I’ve had on the line, and fortunately it's worked out almost every time." He stops, then corrects himself. "Every time! Or else I’d have nothing."
Not everyone sees this as a great success story...
"There are NO prodigies, just bull markets," says Howard Lindzon, an investor and founder of Stocktwits. He encouraged me not to cover Bruggemann’s story. Other traders I talked to were much harsher. "It's bullshit. Trust me," said one. "This is being orchestrated by a penny stock alerts product; it's a marketing scam."
But don't worry, you can get in on this too...
While the promises on Bruggeman’s website are far less aggressive than "Get rich quick" schemes like Sykes', there is an element of self-interest in creating a watch list of penny stocks. "If someone is going to pay me for what I’m trading, I don’t want to get in at a penny and they get in at a penny and a half." Recommending stocks you already own without disclosing that fact is at the heart of many penny stock schemes.
It’s worth emphasizing here that, while The Verge could find no evidence of Bruggeman pushing penny stocks to his followers in an attempt to pump and dump shares, the basic nature of his website is fraught with that potential. Bruggeman says he is careful to indicate which stocks he is in and alerts followers when he enters and exits a stock. For now, the community following his watch list of stocks is fairly small.
"We have 16 people it’s emailed out to daily. My Twitter is a little over 1,000. They don’t subscribe to me, but if I tweet, sometimes they will follow my plays."
But even he is a realist...
...and maintains no illusions about the world he’s playing in. "The company I’m in right now, the CEO got arrested for embezzling funds. He stole $185,000 from the Girl Scouts, before this." What he likes about this world is that he is competing against people like himself, mostly small-timers he feels he can beat. "[In] penny stocks, you’re playing against high schoolers. You’re playing Division III."
...
He keeps a copy of Michael Lewis' new book, Flash Boys, on his dresser as a reminder that in their own ways, all markets have their unscrupulous players. Penny stocks are a risky game, he acknowledges, but "there is way more cheating on Wall Street."
Read more here at The Verge...
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You are just jealous of his success.
Don't blame the player, blame the game.
The dumbing down of the English language is terrifying.
Since when gambling became investing?
Talking about ‘Currency War’ for kids in steroids.
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning" - Henry Ford – “New York World” newspaper, 1920
The son of a former vice president at JP Morgan who worked on the floor
So who was this guy sucking in his heydays.
Now TD makes me sadder
https://www.youtube.com/watch?v=QkB-rpAUbK8
Sooooooo
The "kid" turned 10K into 300K, eh, K?
Now, wonder where kiddie got that 10K from...
Was it....
....daddy floor trader, maybe?
See.
Any fucking Kid whose daddy has an extra 10 thousand fucking dollars sitting around looking for a hot time in the olde town can do it!
Nothing whatsofuckingever to do with the 'Murkian Dream, peons
PS Intellectual Giant Report of the Day! "Penny stocks are a risky game, he acknowledges, but "there is way more cheating on Wall Street."
"Any fucking Kid whose daddy has an extra 10 thousand fucking dollars sitting around looking for a hot time in the olde town can do it!"
I'd follow this story for the lolz, but I've seen the ending before.
He earned it over a couple of years at some part-time job. This was reported in the original article. When you don't have to pay a mortgage or for food or anything like that while living at home, it can add up.
My dad's a truck driver. If I did this, I would be miraculously located in my endeavors at random by people who could broadcast my life to the world of investors. It can happen to me, too. I CAN FEEL IT>
gambling and investing ARE the same thing.
gambling is betting on your luck/yourself/intuition, investing is betting on the futur.
act is the same. in both cases different paths can occur, good or bad, win or loose.
stop trying to be smart, you're not.
Bubble top indicator extraordinaire.
Stop calling it investing, gambling, games of chance, even insider information.
It is following the FED's lead.
No shit, with a crook father you don't think some tricks of the trade were passed down? And that kid better better hope his daddy doesn't own a nailgun.
And how many sets of $10,000 start up funds were "provided" to him and then lost? A guy I know claims he wins huge at Vegas every time he goes, but they never say how much money they put down...
No Shit! and wait till the IRS decides to chime in..lololol
Bullish on clearisil.
Around the same time that Fiat became a car, Propaganda a dance music event, an intellectual a conspiracy theorist, a conspiracy theorist a terrorist and a terrorist the President or Prime minister of most western countries......
We have a saying in Yorkshire, "ya can't kid a kidder"
There is nothing so disturbing to one’s well-being and judgment as to see a friend get rich.
(Charles Kindleberger)
Let's see, if you are clever enough to connect this with the story above...
"There have been several times where I put every dollar I’ve had on the line, and fortunately it's worked out almost every time.
Martingale.
Fuck it though. He knows the Risks his stratergy involves and so far has profited. If he loses everything well thats how shit is suposed to work if you take on too much Risk.
The banks could learn from him in that respect.
They follow my play may qualify as front running...
Well, I guess the apple don't fall too far from the tree. But he ought to cash out some of his Pets.com shares to buy some Clearasil. The stuff in the tube, not a stock.
Like he can't / won't get hookers already.
Confidence Game indeed.
Confidence to whom in society?
Actually, to the contrary… if we had an active, and intelligent society.
This kid is actually a shill who works for one of the pink sheet scammers. 100% false.
now now,Let the people believe in their daily bullshit. They need to say if a kid can do it I can do it. More pillaging is apparently needed by the wizards of oz before the veil is lifted.
Yep but there will be an almost endless supply of idiots to follow him
http://www.idiottax.net/2014/01/investors-say-darndest-things_13.html
a face not even a mother could love
Unless his mother is Cher.
kids these days. He might be retarded but at least he's not long the yen
Aaaaand its gone
aaaand the nigger failed
I'd follow him just to know what to short. Could be a good strategy, no?
I folowed every one ov his recomendashuns and now I accctually own my pants, soon I will by a shirt and a sok to and pay off my student lones for my major in enlish litrachur.
That should pay for his bar mitzvah and dual citizenship.
Are you jealous yet?
(Is this really necessay?) /sarc
"There have been several times where I put every dollar I’ve had on the line, and fortunately it's worked out almost every time."
Now theres a strategy, go all in on penny stocks and hope for the best. That is right up there with taking every dime you have and playing the lottery. See ya in the poor house bro!
Total BS.Penny marketer/hustlers are at THE top of the game...seriously...Madison Ave dont have shit on these folks
Kid, follow Michael Brown's advise - bring your own contraceptives. And make sure you get a pre-nup.
:) I know you all know what I post. But anyway, why don't people post funny stuff online? It's all just fun and games, and anonymous, right? *blocks ip* jk, but really, penny stocks are just stocks that aren't big enough to be put on an exchange. They're on some *bla bla stock terms* bulletin board. In reality, most of the time you can make more money but beginners will always fail where professionals make hay. The point I'm trying to make here is that as long as the fed circus goes on, penny stock options are the way to go. After that, it's all gold...
don't share my ip
no prodigies?? plenty of skilled traders make $$ when markets are going up and as they are going down.
the guys who can trade derivatives are the kings, IMO. very few can bet directionally succesfully, but it is possible.
most people are just losers and give up
Tribal knowledge of the system. Or perhaps tribal epigenetics?
their system isn't really that complex. they maintain the system via the microsoft route by strongarming it into the default package of any society.
You don't need central/fractional banking.
Clever system, yes. But better systems are out there that don't rely on old-world paradigms. People are afraid of the future because they're afraid of change. Rational minds can prevail, if we give it a chance.
Well, his dad must have been a complete idiot. How else could you explain this:
"At home, in a room he shares with his older brother..."
How could you be a VP at JPM, and not make off with a truck load ?
This is disturbing...
Apparently you don't have any friends in Finance. About everybody is a VP of something after 5 years there. Most of them are titles to make you feel better about your business card when you hand it out... and also the person you are handing it to. The low level no real responsibility VP's might not crack 100K in NYC before a relatively shitty bonus.
When I first saw the article touting how this kid made all this cash, I thought this was great...................until I openned up the thread and there in the first paragraph it mentions his dad was a former VP of JP Morgan. Sounds fishy and why isn't the SEC all over this?
So were did he get the $10,000? Not every 16 year old gets $10,000 from his daddy or a golden vacation job to make that kind of money.
'Dad, can I get all my future allowance in one lump sum? I came up with a great idea. Oh, and I need 2 monitors.' LOL
well two things, yeah hes wired through nature and nurture, but if he loses his seed money, 10K there is probably another 10K behind that, and if you ducklings lose your daughters college account, no one is there to bail you out cept bama and ebt. and you are probably a lot smarter, but never mind
Move 'em on, head 'em up!
Cut 'em out, ride 'em in!
Rawhide!
‘
‘
‘
This kid isn’t investing, he’s along for the ride.
Just like everybody else is, and they’re all about to find out.
Any @#$%tard could be making money in this market if they just stayed in.
It’s the smart ones, the real f’ing dummies that have stayed out, terrified by the reality of what so many don’t see.
Hell, those 3x lever ETFs? Since Oct 17, they’re up 45%.
This kid?
https://www.youtube.com/watch?v=xGZVwW5nyrE
Blind, stupid, clueless, doo-dah, luck.
•?•
V-V
Suriviorship bias.
We will never hear from those who vaporized their $10,000 starting capital on one of the times they put every dollar [they]'ve had on the line
If you actually read the article that is mentioned. The allogory to monkeys on a keyboard typing a great work of art is referenced. With enough people doing this, there is bound to be one lucky bastard out there.
See, I even knew that without reading the original article. But thanks your effort.
yeah it's like taking 36 guys, having them all bet 10,000 on a different roullette space and when one of them wins 36 to 1, call him genius for being able to smell which way the wheel was spinning. good for you kid. I don't want your book though.
have you seen the nova days manuals for any box you open?
shows women doing what mostly used to be done by men
you never return this crappy product to store and face the smirk smile of women clerk
I just remember this guy...
Stock Futures Trader losses it all and flips out
Haven't been in the market since 2008.
"this is the face of shock and awe"
that brought back some fun memories ;-)
Good for him.
Clearly not gold and silver stocks.
MOAR click bait.
All the idiots are going to rush out right now and buy penny stocks.
Better get in before them so you can sell it to them.
And there is your problem with the culture central banks and commercial counterfeit credit breeds, everyone stops producing, and starts gambling, how long can a civilization last on that model?
His huge profits and his father being a JP crook are a pure coincidence.
Stopped reading after, "The son of a former vice president at JP Morgan who worked on the floor of the New York Stock Exchange".
Wait a few months and he'll blow his account when price gaps on him or price slips and he doesn't get filled.
Kid should check on his diet too, clear up that acne.
Chlorophyll daily will clear the acne. But, does nothing for the trading losses ahead.
He's being groomed for bigger grand theft opererations.
buy the penny stock, get online and promote it, sell this issue
one problem, it's illegal
but the SEC is kinda useless these days
go get 'em junior!!!
Unfortunately the markets have a way of teaching you risk. In the book Market Wizards, there are countless stories of trades who built up fortunes in commodites and blew it all. Some used it to learn about risk... Many others will never recover.
".....Markets have a way of Teaching you Risk......"
Indeed.....
By the way, an Excellent book......
Did you spell his name right?
Some people's names match their nature. He'll do "well" at GS.
Looks like history is rhyming a lot again:
http://observer.com/1999/08/life-of-an-18yearold-day-trader-hes-got-fake...
http://www.businessweek.com/2000/00_39/b3700145.htm
http://www.nytimes.com/2001/02/25/magazine/25STOCK-TRADER.html
Anyone notice the dates on the articles?
Only $300,000? And it's taken him all year?
Lol, what a loser.
I say fair play to the kid, he's learning the corruption ropes and will be scaling up tens of millions in a few years time on the main boards. The whole market is a stinking corrupt cesspool through lack of regulation, don't blame the people swimming around in it. Blame the Regulators. Corruption in penny stocks is no different to the main market, it's just less subtle.
The markets are one GIANT boiler room operation where direction is dictated by the Fed.
WTF is this article about, I mean we are taliking about "The son of a former vice president at JP Morgan"
Show me the (monopoly) money!
Please show us your statement.
Big deal.
I turned 300,000 into 10,000.
He has nothing on Hillary Cankles, she turned $1K to $100K on cattle futures.
Penny stocks. Newsletters. JP Morgan. This is quite the planted article. Propaganda's not dead.
This is hilarious. Kid turns 10k into 300 and now his parents owe 500k in taxes.
USSA USSA!