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I think this would qualify as fastlane (The HS kid who traded to $72M)

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Rawr

Gold Contributor
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Aug 12, 2007
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Guys, these threads go GOLD because as an investor/fastlaner, you need to be able to spot bullshit. How do you spot bullshit? MATHEMATICS. Those same mathematics is what tells you that the Slowlane is shit, not because of compound interest (indeed that's powerful), but because of TIME and INFLATION. Mathematics tells you that those guaranteed 18% yearly returns promised by slick financial guru is a scam. Mathematics tells you that the Russian immigrant ANTON is not a millionaire because of his army salary and his highly leveraged real estate. And yet, this is the shit the media is serving you-- and God knows, how much of it is really true, or just fabrications.

Once I read this story I knew it was bullshit, or there was something not being disclosed, perhaps like he started with $65M compliments of his parents.

On the Fox Business Channel they discussed this kid (before he was outed) with 3 financial guys... count em... THREE. Only one said "this doesn't pass the smell test" -- the other two applauded the kid and didn't care to think about the mathematics behind the assertion. For the love of GOD, CMON! These are career financial guys entrusted with fiduciary responsibilities of your money!

Here's an actual mathematical dissection of what would have had to occurred for the story to be true.

http://www.marketwatch.com/story/ho...rade-to-build-a-72-million-fortune-2014-12-15

And now turns out, the kid didn't do shit, but play up a role compliments of Hollywood Wall Street archetypes, Belfort, Gekko, et. al. Fancy suit and tie, caviar, slick hair, expositions of extravagance, wow o wow.


You should read "Damn it feels good to be a Banker" It's good satire.
 
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theag

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You should read "Damn it feels good to be a Banker" It's good satire.

"Here, Take this mouse and get back to making $60K a year"

Not so much satire if you know the industry :woot:
 
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Last edited:

RHL

The coaching was a joke guys.
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Oct 22, 2013
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Mohammed Islam

It's just an extremely religious (and from a statistical standpoint, unoriginal) Muslim name. You wouldn't bat an eye at a woman named Anastasia Christiansen (Anastasia=Greek/Russian-Cyrillic: ἀνάστασις=resurrection) ; it's like a permutation of the same phenomenon.
 

Ninjakid

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Jun 23, 2014
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Is this sarcasm or ignorance? Hard to tell over the internet. Apologies if it's an attempt at sarcasm.

A quick look at LinkedIn shows that it's a rather common first and last name combination.
First of all, I made this assumption because I was once falsely led to believe there was a guy named "Pablo Mexico". I did some searching and found no such man exists.

So I assumed that the most common name in the world commonly associated with the Islamic religion, and plus the name of the Islamic religion itself coupled together would likely be hoax. I myself have never met or heard of anyone with the surname "Islam".

But if you found that such people do exist, then kudos to you for being less ignorant than I clearly am.
 
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socaldude

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Gold thread for sure.

The lessons here will save you so much heartache in real life.

Also never do anything what this kid did, lie about yourself all for the sake of a little ego boost. This shit will never go away. Your reputation is ruined forever.

How are lies and scams exposed? Knowledge of business, economics and math.
 

Ninjakid

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Jun 23, 2014
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Buddy Guy Eh
It's just an extremely religious (and from a statistical standpoint, unoriginal) Muslim name. You wouldn't bat an eye at a woman named Anastasia Christiansen (Anastasia=Greek/Russian-Cyrillic: ἀνάστασις=resurrection) ; it's like a permutation of the same phenomenon.
Interesting point
 

3V0LUT10N

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Jan 12, 2014
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Is this sarcasm or ignorance? Hard to tell over the internet. Apologies if it's an attempt at sarcasm.

A quick look at LinkedIn shows that it's a rather common first and last name combination.
I'll admit that the absurdity of his claim had me wondering if he was trying to troll with the name too. Because the $72m could have been inspired by the whole "72 virgins for martyrdom" belief. Whatever. It's hilarious how easily people are fooled.
 
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SonnyCrockett

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Dec 5, 2013
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Although i have some sort of BS-o-meter, which is pretty good i thought so far, i liked the story and felt happy for the kid.
The mathematics... well... to be honest i didn´t think about that for like 1 second.
I don´t know if it was a lack of BS-o-meter or the simple fact, that i just felt happy for the kid and passed on with my own stuff, because it doesn´t affect me.

Anyway... i have the strong feeling that i learned a lot on this 2 pages of Gold - so thank you all.

After reading my own lines and reflecting the things i learned here i can clearly say that it was at least a lack of knowledge, paired with some strong "i´m happy for you but i don´t care" - attitude. Although i think a lot of my own numbers i never wasted a thought on stock market numbers. The more i learn about it, the more interesting it gets. The article on marketwatch is good. Thanks for sharing.

In case i did not do it yet, i want to say thank you, MJ, for the book you wrote. It had a great impact on me and my life and i would love to have a german version for my family and friends.

Merry Christmas.
 

Digamma

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Nov 13, 2014
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It seemed ridiculous to me.
The thing is, I don't know much about the stock market. I reasoned that if these "experts" don't see it that way, I must be missing something.
Turns out, my first thought was right: it's bullshit and these experts are utter morons.
 
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FLYmk

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Jul 8, 2014
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Reading the original story didn't seem like it would be feasible trading penny stocks resulting in $72 Million, but as MJ pointed out...the 'lamestream media' cares little about reality and most about sensationalism. It's rarely 'news' worthy, mostly trash. Just another example of why I refuse to pay for cable, fed stories that do nothing to enhance my life.
 

Charnell

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Reading the original story didn't seem like it would be feasible trading penny stocks resulting in $72 Million, but as MJ pointed out...the 'lamestream media' cares little about reality and most about sensationalism. It's rarely 'news' worthy, mostly trash. Just another example of why I refuse to pay for cable, fed stories that do nothing to enhance my life.

Boom, another reason why I don't have cable. Now, I sit here pondering what more important issue was concealed by this entertainment "news".
 

CommonCents

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Apr 14, 2009
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The big story here is how gullible people are in believing anything the lazy media spews out. Very little critical thinking. Then these sheep cry when they get fleeced. SMH.
 

HighestVantage

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Dec 13, 2014
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Ukiah, CA
Really cannot see this being real. The odds of making the correct entries and exits from $1000 to 72 mill is extremely low. If it somehow is real, it's winning a lottery, and that's not what I'm about. There are mechanical limits to markets, and for one person to absorb 72 million is nearly impossibly difficult. Remember, the financial markets are designed to hedge for inflation, and produce income for the wealthy.
 
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CommonCents

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the author and the editor should be canned for not vetting his claims.
 

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