How to make $110 million in 2 weeks? Story of a 20 year old US student
How to make $110 million in 2 weeks? Story of a 20 year old US student.
Do you know this guy?
Jake Freeman, a student who became a celebrity in the US after making $110,000,000,000 in trading. He bought shares of the company BBBY and they grew by 500% in just two weeks.
How did he make so much money?
Do you think he traded with leverage?
The matter is that his family helped and gave him a deposit of $27 mln for his hobby.
In total, he got +300% to his deposit.
The article does not describe what strategy he used to buy the shares, but this case is similar to a lucky one and the "survivorship bias". So, this time he made a profit, but the next time he can lose it all.
That is why traders use systems that generate profits systematically, not only 1-2 times in a lifetime.