Dear Reader,
I am aware I spelled "Investor's" without the apastrophe, it's just how I believe myself to be unique.
I invite you today to read about my tenacious, passionate, and successful trading background.
Have you ever become so fascinated by something you saw someone do, that you force yourself into learning everything about that one thing? All that demonstrates is passion and interest in something. For some it could be sitting at an elementary school assembly where the local high-school jazz band came to perform, and upon seeing a drumset becoming entranced by the very thought about how cool that "one thing" is (drumming.) For me (although I am an avid drummer) this was the stock market, and every element the financial world has to offer.
I love money and always have, I always wanted to have money. However regulations exist that prevent 12 year olds from drudging over jobs, I was lucky. My aunt graced me with the opportunity to be a bus-boy at her restaurant. That was the first component that brought my attention to the stock market. The next were my parents. What do you expect your when your mother is a Chief-Financial officer for a big firm, and your step dad is Chief-Exucutive officer of that same firms EMEA divison? Exactly, play proffessional paintball; okay maybe not that, but the point is parental pressures were placed on me to save and invest that money. My point is: It's in the genes! So at 14 my mother signed me up for a UTMA Custodial E*trade account, and thus my bank account was emptied into the online trading world.
I'm an honest person, it was not simply a matter of making a trade and then overnight earning $20,000 so I could afford a fancy steak dinner with the beautiful freshman class in my highschool. Investing doesn't work like that, I lost a lot of money when I was starting out. The first company I looked to buy was a local denver restaurant chain called "Spicy Pickle." All the facts I could find about this company looked promising, everything seemed positive for this investment, and the deal was sealed after I conducted some primary market research of my own by sampling their food! Convinced this gourmet luxury subway brand was going to be huge I went all in on this company. $1.21 a share my first transaction was made! And it was not long before I was tossing my millions about; okay in all seriousness the stock crashed and I got out at $0.30 a share. Thats when it became clear I needed help.
Growing up being driven to school listening to bloomberg radio, and reading the financial times from a young age, I knew that knowledge was absolete in the ever rapid changing markets we live in today. However proud of myself for being a 14 year old investor, I needed to educate myself. Unfortunately the public school teachers of America just arent that knowledgeable about investing, isn't that why they say you really have to love teaching to be a teacher? That didn't stop me though, the resources exist, and I was coming home from school reading economics books and spending countless hours on the internet learning about the stock market. I had a decent amount of knowledge learnt, it was time for round two.
Weighing in at a net worth of $2,500 at an age of 16 on the HP laptop the trading began. Absolutely clueless about what stock was right for my strategy, I heavily reevaluated my aims and took another leap. I wen't all in on AIG. $21.12 a share I acquired 94 shares. That first day was great $100 of unrealized profit I was quite the happy fellow. The next week would be terrible though. Headlines were running: "AIG CHAPTER 11" and i'm sure you know what happened next. The global recession of 2008. All of a sudden my 94 shares were worth $164! I was happy though, because one second you have the worlds most profitable business ever to grace the USA with it's presence, with a market capitilization under 500 million, the double down'ing happened. I acquired another 906 shares of the company at under a dollar, the company was en route to rebuilding it's status. The price was hovering around $1.50-2.00. In the end i had made some money back. Untill they did a reverse split (heres where my story turns around.) Because the very second it reverse split, I shorted my position. My strategy had worked! The $20 stock crashed 55% to $9 and I bought back at $10 and sold it at $45! Ever since every trade I've made has given me a good return.
Now theres where I am today. With vivid knowledge on how economics works, and about the stock market, my empire is growing! I'm now 17 years old and my 18th birthday is in April, my goal till then is to raise $25,000.
My goals:
1. Earn $100,000 for 2010
2. Run a tri-atholon in the fall/autumn
3. Win 3 national paintball tournaments
4. Earn $1,000,000 by 2011
Ambitious? Of course!
Thank you very much!
-Michael Marino-
I am aware I spelled "Investor's" without the apastrophe, it's just how I believe myself to be unique.
I invite you today to read about my tenacious, passionate, and successful trading background.
Have you ever become so fascinated by something you saw someone do, that you force yourself into learning everything about that one thing? All that demonstrates is passion and interest in something. For some it could be sitting at an elementary school assembly where the local high-school jazz band came to perform, and upon seeing a drumset becoming entranced by the very thought about how cool that "one thing" is (drumming.) For me (although I am an avid drummer) this was the stock market, and every element the financial world has to offer.
I love money and always have, I always wanted to have money. However regulations exist that prevent 12 year olds from drudging over jobs, I was lucky. My aunt graced me with the opportunity to be a bus-boy at her restaurant. That was the first component that brought my attention to the stock market. The next were my parents. What do you expect your when your mother is a Chief-Financial officer for a big firm, and your step dad is Chief-Exucutive officer of that same firms EMEA divison? Exactly, play proffessional paintball; okay maybe not that, but the point is parental pressures were placed on me to save and invest that money. My point is: It's in the genes! So at 14 my mother signed me up for a UTMA Custodial E*trade account, and thus my bank account was emptied into the online trading world.
I'm an honest person, it was not simply a matter of making a trade and then overnight earning $20,000 so I could afford a fancy steak dinner with the beautiful freshman class in my highschool. Investing doesn't work like that, I lost a lot of money when I was starting out. The first company I looked to buy was a local denver restaurant chain called "Spicy Pickle." All the facts I could find about this company looked promising, everything seemed positive for this investment, and the deal was sealed after I conducted some primary market research of my own by sampling their food! Convinced this gourmet luxury subway brand was going to be huge I went all in on this company. $1.21 a share my first transaction was made! And it was not long before I was tossing my millions about; okay in all seriousness the stock crashed and I got out at $0.30 a share. Thats when it became clear I needed help.
Growing up being driven to school listening to bloomberg radio, and reading the financial times from a young age, I knew that knowledge was absolete in the ever rapid changing markets we live in today. However proud of myself for being a 14 year old investor, I needed to educate myself. Unfortunately the public school teachers of America just arent that knowledgeable about investing, isn't that why they say you really have to love teaching to be a teacher? That didn't stop me though, the resources exist, and I was coming home from school reading economics books and spending countless hours on the internet learning about the stock market. I had a decent amount of knowledge learnt, it was time for round two.
Weighing in at a net worth of $2,500 at an age of 16 on the HP laptop the trading began. Absolutely clueless about what stock was right for my strategy, I heavily reevaluated my aims and took another leap. I wen't all in on AIG. $21.12 a share I acquired 94 shares. That first day was great $100 of unrealized profit I was quite the happy fellow. The next week would be terrible though. Headlines were running: "AIG CHAPTER 11" and i'm sure you know what happened next. The global recession of 2008. All of a sudden my 94 shares were worth $164! I was happy though, because one second you have the worlds most profitable business ever to grace the USA with it's presence, with a market capitilization under 500 million, the double down'ing happened. I acquired another 906 shares of the company at under a dollar, the company was en route to rebuilding it's status. The price was hovering around $1.50-2.00. In the end i had made some money back. Untill they did a reverse split (heres where my story turns around.) Because the very second it reverse split, I shorted my position. My strategy had worked! The $20 stock crashed 55% to $9 and I bought back at $10 and sold it at $45! Ever since every trade I've made has given me a good return.
Now theres where I am today. With vivid knowledge on how economics works, and about the stock market, my empire is growing! I'm now 17 years old and my 18th birthday is in April, my goal till then is to raise $25,000.
My goals:
1. Earn $100,000 for 2010
2. Run a tri-atholon in the fall/autumn
3. Win 3 national paintball tournaments
4. Earn $1,000,000 by 2011
Ambitious? Of course!
Thank you very much!
-Michael Marino-
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