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Story of the $72 million teen trader unravels
cnnmoney ^ | 12/15/14 | Tom Kludt

Posted on 12/15/2014 7:18:24 PM PST by Signalman

It didn't take long for New York Magazine's story on a 17-year-old stock whiz with a rumored net worth of $72 million to make a splash. But the story's juicy premise unraveled almost as quickly. Wapo.com Jessica Pressler wrote the profile of Mohammed Islam, a senior at Stuyvesant High School in Manhattan, for a feature called "Reasons to Love New York." After getting an advanced look at Pressler's piece, the New York Post put the improbable story on its Sunday front page. By Monday morning, Islam's story was one of the hottest on Facebook.

Then it fell apart. In an interview with the New York Observer published Monday night, Islam admitted that he fabricated the whole story and has never actually made a return on any investment. "So it's total fiction?" asked the Observer. "Yes," Islam said.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy
KEYWORDS: mohammedislam; newyork; newyorkcity; queens; scam; trader
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To: Signalman
The news media does no research or fact-checking. They just want a good story.

A minority hits it big? Great!
Obama saves the day? Wonderful!
College students are rapists? Everyone knows that!
Republicans are rich and sleazy? Extra! Extra!

None of this needs to be true. As long as it sounds good.

21 posted on 12/15/2014 7:36:24 PM PST by ClearCase_guy (Democrats have a lynch mob mentality. They always have.)
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To: Signalman

Read Kyle Smiths article from the NY Post from a few days ago: “2014 is the year of the liberal lie”. This is just one more example out of the other billion lies the press has been spewing out all year. I guess they are taking a cue from their God Obama.

http://nypost.com/2014/12/13/2014-is-the-year-of-the-lie/


22 posted on 12/15/2014 7:36:48 PM PST by GrandJediMasterYoda (Obama: 7 acts of blatant treason and counting.)
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To: Signalman

“Pressler, who will be heading to Bloomberg News next year to lead a financial investigative unit ...”

She’s no ordinary reporter. She specializes in financial investigation.


23 posted on 12/15/2014 7:39:20 PM PST by map
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To: ProtectOurFreedom

Think of all the clippings about making 72 million dollars, that he can frame and use for years to impress his dates.

I wouldn’t mind having a clipping like that to pull out when I’m talking to a girl in nightclub.


24 posted on 12/15/2014 7:41:03 PM PST by ansel12
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To: ProtectOurFreedom
King of the Nerds!
25 posted on 12/15/2014 7:42:22 PM PST by ansel12
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To: Signalman

He’s got the Taqqiya thing down pat.


26 posted on 12/15/2014 7:43:39 PM PST by dfwgator
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To: john drake
"A muslim lying? Imagine that....."

I hate it that someone always beats me to the best replies!

Can you a imagine a more muzzie name than "Mohammed Islam?"
Is that a pseudonym, or just a "nom de lie?"

27 posted on 12/15/2014 7:43:51 PM PST by Redbob (W.W.J.B.D.: "What Would Jack Bauer Do?")
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To: ameribbean expat

I second the ‘tude. It pisses me off to no end to invest ear/eye time in something that ends up being bulls***. It doesn’t happen often, mainly because if it’s from something online I can cross check it 5X, but when you hear the story on the radio or TV, at least until now you’d figure the idiots running with it would freakin’ check the damn story out for it’s core truth or not...


28 posted on 12/15/2014 7:44:47 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: Flycatcher

She must have gone to The Clifford Irving School of Journalism.

.


29 posted on 12/15/2014 7:45:17 PM PST by Mears
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To: blackdog

When Google went IPO in 2004 I was insane enough to buy 1000 shares at $100. I put up $50k which was everything I had and the other 50 on margin and I got too scared and sold at something like $104. Next thing I know the thing is hitting $200 which got me sick, I quit stocks entirely, then one day I see it’s $600 then $700 then $800 then hit $1000. I was on a train a few months ago talking to a guy who worked in finance and told him what I did, and you know what he says to me? “Why do you sell? EVERYBODY knew it was going that high!”


30 posted on 12/15/2014 7:45:21 PM PST by GrandJediMasterYoda (Obama: 7 acts of blatant treason and counting.)
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To: Jet Jaguar

She will get a promotion to being Obama’s next speech writer.


31 posted on 12/15/2014 7:47:42 PM PST by Blue Highway
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To: Signalman
The mother of all investments.
32 posted on 12/15/2014 7:49:01 PM PST by dangerdoc ((this space for rent))
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To: ClearCase_guy

Don’t forget “Hands up, don’t shoot!” and “I heard wet grass.”


33 posted on 12/15/2014 7:50:09 PM PST by 2ndDivisionVet (The question isn't who is going to let me; it's who is going to stop me.)
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To: ProtectOurFreedom

Oh, come on, you can bulls*** people easily. Thinking up some really bizarre caper top pull off on school administrators takes talent and planning. He invested 5 or 10 minutes of make believe to an idiot that passed it off with their own (former) journalistic credibility.

IMHO, that doesn’t hold a candle to guys who reassemble a VW on the roof of, or deep inside, a school. ;-)


34 posted on 12/15/2014 7:52:39 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: GrandJediMasterYoda

They all have Teenie Weenie Syndrome.


35 posted on 12/15/2014 7:53:01 PM PST by SWAMPSNIPER (The Second Amendment, a Matter of Fact, Not A Matter of Opinion)
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To: GrandJediMasterYoda

There seems to be a signifigant lack of imagination whem it comes to names in the Islamic world. With almost every other male being named Mohamed it must be a class A pain in the butt to keep things straight. I daresay you could throw a rock into a crowd in any Islamic country and hit at least 6 or 7 “Mohameds”.

CC


36 posted on 12/15/2014 7:55:49 PM PST by Celtic Conservative (Tagline Constructon zone- low humor ahead)
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To: GrandJediMasterYoda
I wonder if this kid is related or “Islam” is a name they use that is just as common as “Mohammed” He has a relative named Yusef who can sing pretty well.
37 posted on 12/15/2014 7:56:34 PM PST by Defiant (How does a President reverse the actions of a dictator?)
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To: blackdog

Boots and Coots Wild Well Control :-) 4 bagged my whole self directed IRA with it. Went back in afterwards with part of that and held 50K shares through the 4-1 reverse split for a subsequent cash and stock buyout by Halliburton.


38 posted on 12/15/2014 7:56:57 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: Signalman

Rolling Stone Fact Checking


39 posted on 12/15/2014 7:56:58 PM PST by Oztrich Boy (Television: Teacher, Mother, Secret Lover)
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To: Jonty30
On this point I can give him a break. He’s a teen and he and his friends had a fool of a reporter who was willing to write down whatever they told her as fact.

I wonder what that idiot fool of a writer would have written about the fake UVA rape case? I think we all know already.

40 posted on 12/15/2014 7:57:33 PM PST by Mark17
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