Join educated investors who get actionable, evidenced-based wealth management insights delivered directly to their inbox.
Subscribe

Learn From This New Low in Financial News

I woke up on Dec. 14 to this stunning headline in the New York Post: “High school student scores $72M playing the stock market.”

It was a sensational story. The story was sourced to an original report in New York Magazine that reported Mohammed Islam, a 17-year-old student at Stuyvesant High School, was “rumored” to be worth $72 million. How did he amass this fortune? He did so by trading stocks part-time on his lunch breaks.

Islam, who was described as “shy and modest,” would only confirm his net worth as being in the “high eight figures.” The New York Post article referred to him as “the teen wolf of Wall Street.” With his massive winnings, Islam bought a BMW and rented an apartment in Manhattan. These possessions justified the colorful description of him as a “cherubic prodigy… living, and dreaming, large.”

Read the rest of the article at US News.

©2021 AVL WealthCare, LLC