Forget about derivatives, how many of us even knew the meaning of trading at the age of 17? People say Warren Buffett started trading at the age of 11 and made around $9800 by the age of 20. Today he is one of the richest people in the world, and the one thing that has helped him acquire the amount of net-worth he has today is nothing but trading. He is the one who first started using derivatives and showed the world how to make quick money, even faster than one could make through trading. It looks like youngsters have started following his footsteps way too early. One such example is Mohammed “Mo” Islam, a 17-year-old Stuyvesant High School student from New York. He is just like all other 17-year-old boys, till the time you don’t pay heed to his trading skills.
Here’s what you need to know about Mohammed “Mo” Islam:
- According to a report published in the Business Insider, Mohammed “Mo” Islam is rumored to have made around $72 million from trading, way more than what Buffett made by his age. The thing that puts this boy ahead of others of his age is nothing but his deep understanding of derivatives, especially futures, which can give headaches even to regular traders.
- While giving an interview to New York Magazine’s Jessica Pressler recently, Mohammed “Mo” Islam admitted that his net-worth was in eight-figures and that he was going to meet a hedge fund investor later that day who wanted to give $150 million to him for investment.
- Boys of his age are happy to date a girl or buy play station with parents’ money, but this guy is different. He has already bought an apartment in New York City, though his parents’ won’t let him go there until next year when he will turn 18. That’s not it; apart from being owner of an apartment in a posh locality in New York, Islam also owns a BMW. Currently, he doesn’t have a license to drive his BMW, so he is eagerly waiting for his 18th birthday.
- In Islam’s words, “I prefer to trade small to mid-cap equities in Gold futures and crude oil futures when they don’t perform good. I trade on the basis of two factors mainly, volume and volatility. My entire trading strategy revolves around some macro and price action trading factors.
- For Buffett, there were two role models: Benjamin Graham and Phil Fisher. He once said that he was 85 percent Benjamin Graham and 15 percent Phil Fisher. For Islam, Paul Tudor Jones is someone whom he follows. He says, “Jones’ techniques, talent, determination, and personality make him successful. I wish I could become even 1 percent of him.”
- Islam wants to become a hedge fund manager. After finishing his studies at Stuy, he wants to get into a finance-oriented college and major in economics and finance. He wants to continue trading this way and wishes to find a mentor who can teach him the advanced techniques of trading.
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