New York Teen Made $72 Million Trading – In His Dreams: Does anyone remember Alex Hope? He was the 22 years old ‘trader’ supposedly so successful that he could afford to splash out £200k on champagne. That was in early 2012. Soon thereafter he was arrested and is now being charged with running a £5.6million Ponzi scheme.
This time coming from the US, we have another very young guy whose ‘trading acumen’ puts Hope to shame. Mohammed Islam, 17 years old, allegedly made $72 million while trading during his lunch breaks at school. The story, as presented in that newspaper and in other several places on the internet, is hardly believable to any thinking person. Moreover, it’s an insult to all real traders out there.
At this stage, we can only speculate as to the reasons behind this preposterous publicity stunt, but I’m certain that it can’t end well for those who buy into it.