I came across this kid who thinks he is a great trader on YouTube, and he was able to impress the judges on this TV show where you can pitch business venture ideas and attain seed funding to start a mini hedge fund.
I find it utterly ridiculous that these people were willing to give this kid 50k (and later 500k) after he showed them a sketchy LTCM-esque chart of his "simulated projected returns" and the only thing he told them about this trading strategy is that he "buys when everyone else is selling," Stuff like this makes it clear how Bernie Madoff was able to blatantly scam so many people out of their life savings. It is because if you can baffle non-finance background people with bullshit they will be inclined to believe you as this 14 year-old kid does. lol... You can watch the video below and feel free to post your thoughts in the thread.
And he explains his methods in greater detail in the following video.
"i currently have a bearish picture on all risk assets" lol... smart guy.
Looks like my video embedding failed.
Here is the link to the first video i referenced:
Second video: http://www.youtube.com/watch?v=DrfMT7mEAas
Julian is a cool guy. He didn't receive the money though.
cant believe those jackasses bought that 10 second explanation of his "strategy". What a joke.
he has to make it through DD. Keep in mind Kevin Oleary also runs his own fund.
A lot of the investments discussed on the show actually end up dieing when they hire KPMG to look into everything first. Also usually the pitches go for an hour or so (still pretty short) but most of it gets cut out.
smh
strategy my ass. its more like the next ltcm
Exactly, he literally has no strategy besides using oversold and overbought technical indicators lol
Just like LTCM, except without the experienced genius Nobel prize winners
Kid (Guest): My parents put in about $30,000 in the past year. Now it is $40,000. Robert Herjavec: You've made $10,000 in a year. Kevin O'Leary (Dragon's Den Judge): You've had a 25% return in the last year. That's very good.
Hey Mr. O'Leary I don't know how the Canadian school system works, but that's a 33% return.
The kid has a future, if he doesn't get bored and it remains his passion...we could be watching something incredible unfolding..
lmao
not sure if serious...
No.
Hahahaha, you actually posted this. Hilarious.
First thing I thought of when I saw this thread was the 16-year-old hedge fund manager
I have to agree: this really shows how little the average joe knows about the markets. I really am impressed by this kid. I wasn't doing anything like this at 14, and probably couldn't have.
But the judges shouldn't be buying into this. While 50k is spare change for them, it sets a bad example. You should never buy invest with so little proof of concept.
And trading/investing is not that easy...you are not going to make 33% a year with an automated program that "buys when people are selling". This is how the "day trader" market segment is created, the guys who sink 5k into a trading platform, keep buying the "get rich quick" trading products, and almost invariably end up losing money.
I also buy when other people are selling, because that is in fact the only way to buy. You can't buy a stock if there are no sellers. A transaction requires both a buyer and a seller.
GIVE ME MONEY!!!!!!
Irregardless, his manner and articulation is pretty good for a 14 year old.
irregardless.... hehe.
you noticed it too
For all intensive purposes, I minus well agree.
you midas whale go with the flow. his prose is legend dairy.
LOL, feels like you are mocking me. haha. "all intensive purposes." still, great "idea," but I would not trust a 14 year-old with an algorithmic trading strategy.
his profile, lol http://seekingalpha.com/author/julian-marchese
[quote=R0bin]his profile, lol http://seekingalpha.com/author/julian-marchese[/quote] Haha he said buy RIMM at $44.
You people hating on a 14 year old?
I am sorry at 14, I do not know anything about investments or what the fudge uranimum was. At this pace the kid is going to be a boss.
Kid: I turned my parent's 30k into 40k.
Dumb fuck judge: Wow, that's a 25% return, good job.
Kid: Yeah, thanks.
Did anyone else catch that math fuck up? They are all idiots.
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