The incredible story of alleged high school whiz kid Mo Islam, reported by “star” financial journalist Jessica Pressler at New York magazine, is all over the news media today:
- This Kid Made $72 Million During Lunch
- High school student scores $72M playing the stock market
- New York teen made $72M trading stocks on his lunch breaks
- High School Student Makes $72 Million Playing Stock Market
- High school student scores $72 million playing stock market
- Mohammed Islam, a senior at New York’s prestigious Stuyvesant High School, has a net worth of $72 million from trading stock
- New York City high school student reportedly makes $72M on stock market
But when we at Twitchy say incredible, we mean “not credible.” As in this incredible story reeks like a football-sized field of fresh cow manure.
And we’re not the only ones who think so. Here are some of the doubting comments posted in response to the New York article:
This is all BS … Buffet,Soros and Icahn never made those kinds of returns in such a short period,and part time no less. Hell,Even Bernie Madoff didn’t even make such claims
* * *
NONE of this is to be trusted without seeing the brokerage statements. He’s a minor. He may trade those accounts, but EVERY transaction has to be the decision of the guardian on the account, his mom or, more likely, his dad. Did the reporter even try to talk to either?
* * *
Not a chance. There was no mention of a single winning stock pick. Nor was there any examination of how a kid under the age of 18 opened a brokerage account and traded like a maniac. Regarding the returns the story implies — keep this in mind. Warren Buffett has averaged a little over 19% a year since 1965. Maybe the kid has some kind of Fantasy Football account. There’s no real money involved. He’s more an aspiring Bernie Madoff than future Warren Buffett.
* * *
Trading stocks during lunch ~ yea ok, i have a bridge i’d like to sell you.
Twitter users have pointed questions, too:
My BS meter is pegged right now RT“@jolshan: Stuyvesant High School student rakes in $72 million from stock market: http://t.co/ntdMFoeMTt”
— Jonathan Crawford (@JCrawford15) December 15, 2014
@TraderHMS itd called the bullshit method. No chance a 16 year old kid made 72 million dollars trading from his phone on lunchbreaks.
— Marketmaykur (@jackgleason) December 15, 2014
I am starting a penny stock hedge fund that will only execute trades on my lunch break #72Million #BS
— roberto pedone (@zerosum24) December 15, 2014
. @jpressler If you belive that cock and bull, I have a great story of gang rape at #UVA you should write about. Doesn't anyone fact check?
— IrishDemocracy (@IrishDemocracy) December 15, 2014
Was the kid’s track record audited? The acclaimed financial journalist and author of the New York article, Jessica Pressler, appears to have … no idea:
@SallyPancakes You should ask him!
— Jessica Pressler (@jpressler) December 15, 2014
Where are all the layers and layers of MSM fact-checkers?
We know, we know. For the privileged left-wing journalistic elite, facts are so passé. What’s really important is that Pressler is considered one of the world’s sexiest financial journalists.
Fun fact: She has just been hired by Bloomberg News.
#Realjournalism: Nice hack work, if you can get it.
Update:
Pressler is backing away from the story’s headline, “Because a Stuyvesant Senior Made $72 Million Trading Stocks on His Lunch Break”:
@helaineolen @felixsalmon @ReformedBroker We saw a bank statement confirming the eight figures, & I'm comfortable with what's in the piece
— Jessica Pressler (@jpressler) December 15, 2014
@helaineolen @felixsalmon @ReformedBroker Though the headline is problematic
— Jessica Pressler (@jpressler) December 15, 2014
@ReformedBroker @helaineolen @felixsalmon In any case, it's New York mag's Reasons to Love issue, we're not a financial publication
— Jessica Pressler (@jpressler) December 15, 2014
@helaineolen @felixsalmon @ReformedBroker I think the skepticism is warranted and also a reflection of how it's written
— Jessica Pressler (@jpressler) December 15, 2014
@felixsalmon @helaineolen @ReformedBroker Both imo; but I don't write the headlines
— Jessica Pressler (@jpressler) December 15, 2014
So, basically, she has no idea if the kid made $72 million trading stocks on his lunch break.
Related:
10 ‘real reporters’ who swallowed story about $72 million stock market whiz kid
Story about kid who earned $72 million trading stocks on his lunch break gets even more ridiculous
Join the conversation as a VIP Member