It falls in a category that he likes: smaller companies ignored by Wall Street. Those shares have been rising since he bought them last year. Prakash says he’s currently in the middle of what he calls his best trade, RealNetworksīest known for its early streaming media technology and now facial-recognition software. “That was sort of my first lesson in bubbles and, you know, not shorting irrationally,” he says, and it marked the point at which he started using stop losses, which help traders limit trading exposure. He got overconfident after that trade and began shorting stocks he thought were overvalued, only to end up losing part of his Starbucks profit as the market moved against him. ![]() The quick 60% profit from the Starbucks investment led to an early mistake for Prakash. Read: 2020 saw a surge in new businesses - get the help you need to launch your own ![]() The broad benchmark S&P 500įor example, has gained 40% since the midpoint of 2018. ![]() stocks more generally over much of that period. Which he bought in mid-2018 for $53 a share then sold when it hit $87 in mid-2019. He saw success with his first stock, coffee giant Starbucks Prakash also has an entrepreneurial spirit, funding early trades from a graphic-design business via Instagram. The Toronto teen buried his nose in Berkshire’s recent annual letter to shareholders and highlighted some big takeaways: “Never bet against America,” and everyone makes mistakes. The Tell (April 2020): ‘Rich Dad, Poor Dad’ Robert Kiyosaki: Don’t save your money! Spend it on the ‘best buy for future security’ He would pore over autobiographies by famed Berkshire HathawayĬo-founder Bill Gates as well as the book “Rich Dad, Poor Dad” by entrepreneur Robert Kiyosaki, to learn about their successful strategies. Not many teens would make it a point to squeeze legendary investor Warren Buffett into their weekends, but, then, Srivatsan Prakash is no ordinary 17-year-old.ĭescribed as an “aspiring fund manager” on his Twitter account, Prakash told MarketWatch that the investing world drew him in at 13. The honor-roll student and gridiron star offers how-to investing courses through his own company, Return on Investment LLC. Jones, whose first love remains football, hopes to one day combine his passions via a hedge fund helping professional athletes manage their money. Is currently on his radar for its “innovation, specifically its smart cities” and “solid numbers.” Jones bases his stock picks on “where the world is going,” which has led them to companies like electronic-signature group DocuSignĪs well as the pharmaceutical and artificial-intelligence spaces - chip group Nvidia He then moved to options, helped by his mom, who used football analogies to explain, and learned alongside him. He funded those early trades with earnings from a book he’d written about bullying in youth sports, “The Win Within.” Which he thought would be “a good long-term investment” because “everyone,” he had observed, uses the online retailer. Jones got his trading bug at 9 years old from a YouTube video, convincing his mom to let him buy a few shares of Amazon can only trade or invest via a custodial account supervised by a parent or guardian. According to a Deutsche Bank survey, a new wave of younger traders has grown during the pandemic, though the under-18 crowd, sprinkled across social media, is less easy to track. He’s one of many kid investors out there who seem knowledgeable beyond their years. Read: The stock market’s COVID meltdown began a year ago today: Here’s how every major asset has performed since then The stock itself is currently at $560, down from its all-time high near $900 in early January. That was what was amazing to us,” says Christon’s mother, Janel. ![]() “People focus on the money, but it was really because it was one contract. In the end, he and his mom netted $78,000 off a single options contract.
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