This page has been archived and commenting is disabled.
Meet The 17-Year-Old High School Junior Who Made $72 Million Trading Penny Stocks. Allegedly
Update: it appears our bemused skepticism was well-founded. Moments ago that paragon of honesty, CNBC itself, chimed in and reported that following a conversation with Mohammed, the 17 year old admitted he made nowhere near that amount. To wit: "That story is being widely disputed and I can tell you that I just spoke with the gentleman right here at CNBC HQ, he told me the $72 million figure is not true, they do not know where it came from. They said "the attention" is not what we expected. We never wanted the hype." More here.
Too late Mohammed, the IRS is already knocking and asking for their $36 million cut.
And here is some more damage control from the "Leaders Investment Club":
It has been brought to the attention of the Leaders Investment Club that Mohammed Islam has been rumored to have made $72,000,000 through making trades in the stock market. After performing due diligence and talking with Mohammed Islam himself, we have determined that these claims are false and simply been blown up by the media in the interests of sensationalism. We hold all our members to exacting moral and investing standards, and ask Mohammed Islam to clear up all misinformation surrounding his claims, misconstrued or otherwise. The goal of Leaders Investment Club is to promote the financial education of Millennials, and we disavow affiliation with members who fail to promote accurate and transparent information.
Sincerely,
The Leaders Investment Club Community
* * *
It never fails: every year we get a story of that one individual who, as simple survivorship bias would suggest, made a killing in the same market where 999,999 others lost (you won't ever read about them though). This year that someone is a 17-year-old from Queens who, according to rumors at Styuvesant High School in NYC where he is a junior, made $72 million by trading pennystocks, oil and gold.
Meet Mohammed Islam, who as the photo below shows, is like most other high school kids:
... with a few exceptions: he rents a Manhattan apartment, drives a BMW. And eats caviar and apple juice. Allegedly.
Who is Mohammed? The son of immigrants from the South Asian region of Bengal, Islam began dabbling in penny stocks at age 9. After suffering an early setback that cost him some money he made tutoring, he started reading up on modern finance, and hedge-fund managers in particular. He takes as his inspiration Paul Tudor Jones.
Most importantly, he is 'a VIP!' because remember: when one wants to be successful, one must first exude, dress, rent and eat "success." Or at least what journos think passes for success these days. Such as this one:
As the news spread, Mo’s stock went up. The school paper profiled him, Business Insider included him on a list of “20 Under 20,” and Mo became “a celebrity,” as his friend Damir Tulemaganbetov put it on a recent Friday night at Mari Vanna near Union Square. “A VIP!”
Mo, a cherubic senior with a goatee and slight faux-hawk, smiled shyly. “He’s quiet today,” said Patrick Trablusi, who was seated with Mo and Damir at a table littered with empty glasses. “Humble.” And tired: “This is our third meeting of the day,” Damir said, signaling to the waitress for another round. “We saw a real-estate agent, a lawyer, you …”
“Next we’re going to see a hedge-fund guy,” Patrick said. The friends locked eyes and started to giggle.
Why? "He basically wants to give us $150 million,” Mo explained, a blush like a sunset creeping over his cheeks.
Wait, so there is your typical trading "superstar" with unaudited returns, who attracts attention just because of his ostentatious behavior and "glamorous" spending habits, who like Kim Kardashian is famous "because he is famous", and immediately the "smartest money in the room" lines up to give him even more money?
Certainly sounds "credible" and if not, then P.T. Barnum was a wise man indeed.
So what is Mo's actual net worth? Short answer: nobody actually knows.
Though he is shy about the $72 million number, he confirmed his net worth is in the “high eight figures.” More than enough to rent an apartment in Manhattan—though his parents won’t let him live in it until he turns 18—and acquire a BMW, which he can’t drive because he doesn’t yet have a license. Thus, it falls to his father to drive him past Tudor Jones’s Greenwich house for inspiration. “It’s because he is who he is that made me who I am today,” Mo said.
Sure, why not. So with high school almost behind him, what are his plans that fit with his world-domination narrative?
Over late nights out and dinners at Morimoto, the three hatched a plan to start a hedge fund. “There are a lot of steps we have to follow through,” said Patrick, calling to mind a more serious Chuck Bass. “But we’re on the right track.” They plan to launch in June, after Mo turns 18 and can get his broker-dealer license. “Mo’s our maestro,” Patrick said. “He’s going to be earning the big bucks. We’re just going to try to fill his needs.”
All three plan to attend college next year, but they’re not concerned about classes getting in the way of their goal: “A billion dollars!” Damir said. “By next year!” Mo affirmed the number with a nod. “But it’s not just about money,” he added. “We want to create a brotherhood. Like, all of us who are connected, who are in something together, who have influence, like the Koch brothers …”
Ridiculous trading returns aside, if a "brotherhood" is what you want then Goldman will surely hire you for your stupendous marketing and self-promotional skills alone. Goldman's decision will be further facilitated by Mo's ideology on money life :
... it falls to his father to drive him past Tudor Jones’s Greenwich house for inspiration. “It’s because he is who he is that made me who I am today,” Mo said.
Which is to say: a believer in Wall Street. “A lot of young people do start-ups, but I think it’s a bubble. Trading and investments will always be there. Money will always be rotating—”
“Money never sleeps!” Damir added. “That’s from the Wall Street movie.” “It all comes down to this,” Mo continued. “What makes the world go round? Money. If money is not flowing, if businesses don’t keep going, there’s no innovation, no products, no investments, no growth, no jobs.”
The check arrived for the caviar and apple juice. It totaled $400. “New York, that’s where the money’s at,” Damir shouted, pulling out a credit card.
This reminded me of an old joke about robbing banks because that’s where the money is. Damir grinned. “My father has a quote,” he said. “It’s really dope: ‘You can rob a bank with a gun, but you can rob the whole world with a bank.’ ”
Failing that, you can just take the money of a few gullible investors who desperately want to believe that that fleeting Wall Street success story is still possible and that a 17 year old can beat Wall Street at its own game. And remember: all one needs to appear on CNBC these days is a business suit and to speak with confidence.
As for everyone else, feel free to click on the NY Mag's story about the young "multi-millionaire" - after all that was the whole point.
And failing that, read the story of everyone's favorite mega-spending FX-trading superstar, Alex Hope: "Superstar FX Trader Whiz-kid Nothing But A Superspending Ponzi Fraud" who, as most "successful" investment managers exuding "success" burned "through £2 million in the 13 months before his arrest in early 2012."
»
- 49655 reads
- Printer-friendly version
- Send to friend
- advertisements -
He looks like a terrorist. He should fit in nicely at the squid or the morgue.
Insider trading for the terrorists? But his name sounds fake, is this story is psy-op?
The algos can be defeated! </sarc>
That looks like Paul Krugman's bastard (illegitimate) son!
Nahhh.....too smart to be Krug's wad
Fuck him & the flying carpet he rode in on.
Probably got rich the banker way, betting against the lemmings
With a system this corrupt and oppressive they need to throw a story like this out there from time to time to convince the plebes that, if they just try hard enough, that they could win like this guy. This is why Vegas loves to promote the 'big winners' at their casinos - it could be YOU! Vegas wasn't built by 'winners'. It was built by people who arrived in a $10,000 car and left on a $90,000 bus.
Don't listen to this 17 year old douche! Listen to a 30 year old virtual gambler from Canada!
https://btc-e.com/
Story emphatically denied by cnBSc just now.
And this guy was scheduled to take over from Cramer as the host of the .00000007% Nielsen Rating "Mad Money" teeeeveeee show.
What broker will open a trading account for a 17 year old? They could not enforce contract provisions.
Oooooops.
Caviar and apple juice?! Pretty fuckin classy, I'm giving that nigga all my money.
Exactly. My first thought too. Who in fucks sake has Apple juice with caviar? If his trading habits are as his eating habits, then I see a lot of diarrhea going down the tube.
Never judge a man by his appearance, but by his eating habits!
OFF WITH HIS HEAD!!!
Signed,
Al-CIA-ISIS
9 seconds of rodney explaining it....
https://www.youtube.com/watch?v=udfhBjR-FtA
he lost 72 million
Is this the current Madoff in waiting?
If it sounds like a bullshit, it is a bullshit.
He should now stay away from cafes in NY financial district and ask for black flags.
You always hear the story about the guy who went to Vegas and hit the jackpot. You never read about the hundreds of thousands that went to Vegas and lost big. That's what keeps the casinos in business, just like this story has been designed to groom the latest batch of suckers for the Street. As far as propaganda goes, it is irrelevant whether this guy really made any money at all.
Does he take pills to put glitter in his shit??
Well, he does seem the perfect candidate for Hillary's school lunch program in Guantanamo...just sayin'.
I was waiting for the statement that his father or someone actually maintains the account; but it's not there. that's pretty ridiculous; of course you're right, there is no broker who can open an account for a 17 year old; it's simply illegal. It can't be done.
That's an amazing link. If noting else at all was happening the mere existence of 'Bitcoin" would prove it was 1929 all over again; ie; the top of the bubble. It's when maximum public stupidity occurs.
I don't know what the big deal is. In 2014: Robert Citrone over at Discovery Capital lost $12 Billion of his client's money, and Bill Ackman over at Pershing Square Capital Management managed to see his way clear to loose $2.2 Billion of his favorite client's money, and then there is Stephane Nicolas who found a way to loose a paltry $630 million of her fund's money (what a piker!). This kid has to learn somehwere, why not in NY while eating caviar and sloshing it down with apple juice from his sippy cup.
Banksters are Banksters after all.............
Mohammed Islam.
Propaganda and Perceptions Management, deluxe
So here's a story (picked out of the fucking blue, guy just surfaces like McLean and Burgess) who makes a capitalist killing buying the shit that Uncle wants you to buy, suck you in, if a dumb ass kid in Queens can do it so can you, and his fucking name is MOHAMMED ISLAM.
You have got to be kidding me.
Mo-fucking-hammed Islam
Two propaganda pieces for the price of one.
Doesn't say he decapitated the 2 brokers screwed him....
Just like the new black ANNIE who saves the fucking world, converts Daddy Warbucks to Socialism , makes him realize his White Guilt, becomes Politically Correct and votes for Princess Pocahontas of Massachusetts and Aaaaarrraraaggggh!
I'm gonna go outside play in the cold rain, catch pneumonia and have the hospital bills paid for by ObaieCare which the local hospitals don't accept.
Aaaaaarrrraaaaggggh!
FUCK
somebody out there thinks we're all nitwit offspring.... I'm beginning to think that only Skeletor can fix this shit ... and that's one strange thought for strange times....
Sounds like somebody needs a hug, knukles. I think one of those Brooklyn love-hugs that close off the carotids might be in order. You may just be suffering from excess blood supply to the brain.
Mohammad Islam=Jesus H-fucking Christ.
You have to admit, it is entertaining.
My son has a classmate/pal in 11th grade whose name is "Mohammed Islam," and everyone calls him "Mo." When I saw this story I had to make sure it wasn't the same 17 year-old kid. It isn't. We live in Minneapolis. But my son's friend is exactly the sort of smart-ass who would run a prank like this, though it would be a high-water mark for him. So far this kid has joined the NRA under his real name and shows everyone the card; has signed up for various Pamela Gellar and Joseph Farah-type newsletters and websites, and has applied, but was rejected, for membership iin the Ku Klux Klan.
Hey, if your parents give you a name that makes you stick out in America, might as well have a little fun.
Just another example of why you are one of my all-time fave posters.
Exactly.
I, too, struggle with the 'reality' we are fed.
I bet you could go off on a rant, occasionally!
The guy was just a fuck-up, similar the Canadian dude in the Parliament building. Suicide by cop while taking a few with you out of anger.
Their supposed delusion of choice gets 10 times the 'news' coverage that a believer in any other delusion would command.
I don't get it. If he made so much dough, why did he take over the Chocolate Shop in Sydney and hold hostages?
Poor pseudo-Iranian bastard is dead. Now we'll never know.
Time for the new E-trade ad campaign....
Whew.. I thought he was from Stuxnet High School...
Boy, that would of explained alot.
WOULD HAVE GODDAMMIT
"Durka Durka Mohammed Jihad!"
At least he's not robbing Cigarellos in Fergusson... Over the top? Yes. Perhaps a inspiration to at-risk youth? Probably.
They'll start slinging pennystocks instead of dimebags
Meanwhile our latvian videolkis_lv buddy left zh :/
He looks like he could be related to Raj Rajaratnam. Maybe Raj (or someone else) used him to hide the insider trading and by making him public, they're now trying to launder it so that money is viewed as clean.
He looks older than me and I'm twice his age. WTF.
he sure does not look like a teenager more like 30 something...
Diabeeeeedes
He must be "under 18" when his father got his immigrant visa.
over there, you can get a fake birth certificate for $5
He has the same source 0f birth certificate as OBOZO, probably his sun, insider....
Reminds me of the joke:
In my next Life I want to come back as a Paki kid. Why is that?
How cool would it be to have a moustache as a 5 year old!
All those kids at Stuyvesant HS are terrorists, not just the Muslims.
with the regular daily dose of doom and gloom it is refreshing to see this story ... America was, is and will continue to be the Land of Opportunity!
dare to dream!
those american student jerking at their parents basements shoudl be inspired by such an immigrant story and not be jelous!
The America dream still lives on ... refreshing article - thank you ZH
Original American dream: Work hard, make a good living.
New American dream (for poor people): Do nothing, make a living anyway
New American dream (for central bankers): Do nothing, live like a king
New American dream (for the middle class): Work hard, scrape by.
even the Original American Dream was a scam.
See George Carlin on this subject.
https://www.youtube.com/watch?v=kJ4SSvVbhLw
tell me you are being sarchastic.
I am gonna go with that you are.
tell me you are being sarchastic.
I am gonna go with that you are.
Where's the 'sarc' tag???
Someone might think you are being serious!
sounds like BS to get the average joe all hyped to dump his $ into a bloated, moribund stock market.
Yea i'm going to have to call bullshit on this one. He's probably some oil barrons autistic love child.
https://www.youtube.com/watch?v=IGYaFMFU63U
72 Million
72 Virgins
Does anyone not see this
Too many obvious fake news stories these days
as opposed to the old days when there were even more fake stories but no comments, so intelligent people could not discuss them
Old Media= 1 sided from them to you
Online Media = Comments allow for more collaboration
CNBC pulls story cause he was not a good actor on TV: FAILED PRE-INTERVIEW, perhaps he can use his millions to hire a media coach
The ensuing publicity however, and pre-interview by CNBC, prompted them to reconsider.
You remind me Ciancia in LAX
Reminds me of the old joke:
If all the virgins are in heaven, then I would rather go to hell to join all the bitches.
Oh noes ! It's justice Kitty !
Whoops.
Probably was just trying to impress a pretty girl and get laid. Happens.
His way is probably working better than mine.
Obes cousin?
He eats apple juice? Wow.
He looks stupid enough to believe in Allah.
Pathetic. Media Loves the bullshyt. This guy looks like A Star Wars character.
Http://www.hedgeAccordingly.com
sounds like bullshit
http://pjmedia.com/tatler/2014/12/15/of-course-ny-magazine-story-of-17-y...
It's funny because he's fat.
Too big to fail
Too fat to fail
Do the truffle shuffle...do it....DO IT! https://www.youtube.com/watch?v=kr_z37TgQO4
Young lad looks like he enjoyed michelle obama's school lunch program ( eats a class worth of lunches ) in years past. THankfully he's past all that.
Allah Akbar, Bitchez.......
LOL : What are the odds, a few days ago we had this article about a guy claiming he's repaying his student debt with stocks; now this miracle story... Yeaah i'l pass.
Sounds like a "hey lets hussle some kids into stocks"
I got some, Ocean Front property in Arizona, from my front porch you can see, the sea, I got some....
If you can see Alaska from your porch, I'm down.
His name is "Mohammed Islam" and DHS hasn't put him in Guantanamo yet?
What, is he Jon Corzine's Nephew, Jamie Dimon's protege, or John McCain's page?
I'm sure the S.E.C. is on top of it!
Penny for a gumball Popeye!?!?
Sounds about right for the end of an empire.
pods
Yeah. I was captured by aliens once.
Is his middle name Ponzi?
for fucks sake man...
blow up already....
LOL. verrrry funny comment section. Laughing my ass off.
and he still can't get a date
NYMag doesn't care to check for facts. I believe this to be fact if the kid had started with in capital $71,999,999.99. I'm going to call up the NYRag and say how I made $120MM last year trading only while I was taking a dump.
And don't forget to mention how your sister made boatloads working from home 2 hours a day, 3 days a week.
Yes, I'm sure you piled up quite a fortune.
That's just Raj Ratnam in the Witness Protection Program.
Token Distinct Melanin does gud. Full story at 11:00.
True story, here at work some fucking rain-man came down the hall one day, counting under his breaths. I realized that he was counting his steps while he avoided stepping on the cracks of the carpet squares. He looked a like this goink, too.
Thank god. Just knowin' I'm not the only one who does that made my day.
just a front to make ya love the "peaceful" islamists see even a tewworrist can be a good guy and make a fortune ...where's the black kid oh thats right the cops shot him an stole his loot this subliminal mind fucking couldn't be any more blatant ..or could it???
Wouldn't there be a bunch of young ladies in this equation?
Not until he blows himself and his "investors" to smithereens.
Then he gets 72 of them, I believe. Each and every one a virgin.
With looks like that? Think billions.
More HS kids are on stox or drugs?
With a face only a mullah could love.
Looks trustworthy to me. hahaha
Stuyvesant is known for Math and Science prowess I 've read elsewhere. I guess it's not that surprising but he had to have lots of luck + genius.
“It’s because he is who he is that made me who I am today,” Mo said.
yeah he's a MO alright what the fuck grammar people grammar where has it gone???
MOAR click bait.
Front, eminence front, frontin.
An American, not US subject.
His sister makes $1567 per day working from home. Check it out, you can too www.ubasuckertoo.com
Gullibility ...I'm long on it...
Your link doesn't work
/sarc
"a blush like a sunset creeping over his cheeks"
How the f*ck could they tell if a blush came over his cheeks, let alone a blush like sunset? I call BS on this whole story.
Nah, you just gotta be lookin at the right set of cheeks...
Cold fusion
The russians have'nt taken it yet?
Looks like several russians read the site.
The NSA has clout you know you "queens" SOBs.
Ah............. trolling at it's finest........ when you catch a 30# laketrout.
Even foul hooked
I did not see those 3 letters: IRS. Do we have any notice from our beloved friends? R they on a holiday or preparing the papers? Little do we know.
"Like our previous winners: Whitman, Price and Haddad! You remember them. Whitman, Price and Haddad! There they are. And at this very moment, they are basking under the Maui sun, their debt to society paid in full."
So how, in the increasingly weird US of A, does a minor sign a lease ?
His parents do. Look around chump, there are tons of "independently wealthy" minors attending high school in america from all over the world.
Does he work for, or have parents who work for, Goldman or JPM?
It's a club folks and you can bet your ass the kids are privy to the same information that the parents are. The SEC does not prosecute insider trading. That should be clear to everyone now.
Rajat and Raj have their fingerprints all over this.
This is a 17 year old kid....do you hear yourselves....the racial slurs, the violence wished upon a kid. How awful are you. Is this what this site has become?
Yeah, like what's the minimumn age for a suicide bomber?
Are you new around here? This used to be Fight Club, now it's just plain old, Fuck U.
Somebody punch this jerk-off in the teeth, please and ass-rape his 17-year-old friend with a splintered broomstick.
Me, I'm gonna kick him in the nuts until they come outta his nose.
Go back to HuffPo, homo!
This is a 17 year old kid....do you hear yourselves....the racial slurs, the violence wished upon a kid. How awful are you. Is this what this site has become?
No, it's the home of sanctimonious hypocritical prats who wouldn't live near a minority if their lives depended on it. Which they do.
Hey, Monty. go fuck yourself. Talk about sanctimonious! You throw the first rock, bitch. I'll be happy to pick it up and shove it down your pencil-thin throat with one hand tied behind my back.
BTW: Your mom was splendid last night. Did she tell you about me when she was sponge-bathing you?
So, get fucking lost, because, contrary to your insipid opinions, I'm having a great day.
You're probably what I'd call a J-- ba--ard fucking n--ger ch--k (made that up in college, bitchez!)
Hey Free, must have struck a nerve there, did I? Good! And glad to hear my mother was hot in the sack. Now go back to the HR Department or your black female boss will be cross with you.
Well, they do let this maniac post here.
So they have got that going for them like fella.
Lighten up Francis, :-)
;-)
G-R-E-A-T!!!
Have the kid send his CV to Lloyd and Jamie and tell him that under Experience Summary to put:...
Adolescent "masturbation" techniques are the key to my penny stock trading success. Lloyd and Jamie have built their success and reputation(s) on the exact same strategies so expect him to be hired when uses that as the "trigger" for a job with either bank!...
This kid will be a winner at either joint!!!
Kids...they blow up so fast these days!!!
HOT OFF THE PRESS! It's emerged that the source of his wealth is the welfare payments for his 32 wives and 600 children.
This kid looks like he spend much inhaling fast foot. Plenty of gold diggers in the US and elsewhere he can find.
"inhaliing fast foot"----LOL. Engrish a little moar harder than you thought, eh ?
they allow minors inside the casino?
the sandy hoaxers at it again http://rt.com/usa/214579-newtown-families-sue-gunmaker/
Call Al Sharpton. There is no lack of opportunity in America, only wasted opportunity.
He took out $72 million in student loans -
:-)
"Mohammed Islam"
Yeah sure. Not exactly a name the Squid would be interested in.
U made my day!
Unless his middle name is ISIS.
totally fake name, just a prompt to suck the fuckers into the market and make the penny stock brokerages money.
he probably started with $140m ...
Sounds like a sales pitch..." You to can be a millionaire! "
Hoax. It seems like these days, anyone with a pencil can do security analysis and become a hedge fund manager.
“We want to create a brotherhood. Like, all of us who are connected, who are in something together, who have influence, like the Koch brothers …” What does that even mean?
That's nothing. My hamster moonlights as an executive board director at the Federal Reserve. My cat just got nominated for Financial Terrorist of the Year by Max Keiser.
Seriously, good luck to the old gent/kid. Hope he stays out of jail in the coming months after Goldman offloads $150 million of their finest crap onto his books.
My theory: Saudi Arabia got word of this kid named Muhammad Islam (phony name?) and instantly had a great idea for a PR move: Buy whatever that kid said to buy. Make him rich, making Islam seem real. It's Muslim PR chicanery. It will only get worse when we have to pray three times to the Caliphate if we want gas in our tanks.
Looks like the twitter "hedgefund" manager from ohio had just enough misplaced investments to get that plastic surgery he needed.....
Justice for Jessica
http://www.inquisitr.com/1678735/hacktivist-group-anonymous-takes-on-jes...
The fact that women are only attracted to the worst type of guys always amaze me...
Maybe some fifty shade of gray at works in the female mind...
And I win (Ding Ding Ding) some mangina and white knight can't handle the truth and downvote ! Eh eh eh !
you can tell alot about a person by the company they keep...so why do I care about this bitch...answer I DON"T she's a fucking race traitor
like I said keep your multicultural multiracial BS you liberal assholes wanted this shit so this is what ya get and she got what she deserves drop dead assholes
Even Hillary could make $100,000 overnight trading cattle futures just by reading the Wall Street Journal.
This fella must have the same kind of "luck".
Mohammed Islam? Lotta thought went into that handle. Cut me a husk..........