A real baller trader - from phone to Porsche

I know theres a lot of you out there wanting to be traders, desperately gobbling up anything and everything you can find to appear as if you have an understanding of how the markets work at those interviews...well fellas, guess what - trading is not about regurgitating LIBOR rates in front of a inattentive VP, its about instincts. It's about understanding how business works.

And here's a 17 year old kid who seems to be a born trader - he started out with an old cellphone and kept trading up on Craigslist till he ended up with a Porsche. Now thats some real ballin' tradin'

http://abclocal.go.com/kabc/video?id=7564154

http://www.autointhenews.com/teen-trades-up-on-cr…

 

This dude is my hero.

ive completely traded myself into the biking game. starting with just about nothing, ive craigslisted my way (buying an upgrade and then selling the original thing for more)to a >$1000 road bike (bianchi giro on racelites) and >$2000 mountain bike(cannondale team optimo) (retails, approx.), plus a baller fuji singlespeed and bikes for my family. Last summer i moved 15 bikes through my parents garage. I'm a complete craigslist addict, i literally cant go a day without checking it and im probably checking it atleast once an hour. I'm actually going to pick something on craigslist at 4:30 after work hahah.

_________ John Tabacco's raw, unique market commentary based on real information from real short sellers: http://www.TheDailyShortReport.com
 
Cornelius:
everyday im hustling...

Haha, best song ever!

For real though...this is just some kid that was slightly motivated and had time on his hand...not some genius savant.

In fact, I read an article that said he took a loss ($5k or $6k) just to get the Porsche so he could be the only student at school to have one. That's not a smart decision, not to mention that he has to get rid of it because he can't afford the repairs and maintenance on the $9k Porsche and said that he would get something more practical like a "Cadillac Escalade" lol.

So again, I don't see where there is genius at work.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 

Reason for the "more practical Cadillac Escalade" switch according to the article? High gas costs....what?

"Despite a voluminous and often fervent literature on 'income distribution', the cold fact is that most income is not distributed: it is earned." -Thomas Sowell
 

How does this happen?

I read an article on this story about a week ago and have been monitoring Craiglsist since to see how realistic this is. Maybe it's just the Chicago Craigslist that is fairly dead, but in the barter section there is absolute crap. The best things available are crappy old boats and crappy old golf carts.

blong, where do you live? How did you get started? The concept sounds very interesting, but I'm not sure I see it realistically happening.

twitter: @CorpFin_Guy
 

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