Fund Gambles on 20-Year-Old Stock Picker

E

easyguru

http://www.reuters.com/
LOS ANGELES (Reuters) - The company that runs one of the worst-performing mutual funds in the United States has taken a huge gamble by hiring the youngest mutual fund manager ever, a 20-year-old stock picker who has not graduated college.

Frontier Equity Fund, run by Freedom Investors Corp., hired Chris Lahiji after his fantasy mutual fund -- a stock portfolio that was tracked on the Internet but had no real money at risk -- racked up a 170 percent return in about a year.

The assets of Frontier Equity Fund, based in a suburb of Milwaukee, have jumped tenfold in the last half-year, most of it since Lahiji became co-manager in September, as investors, including his parents, poured in hundreds of thousands of dollars.
 
Quote from easyguru:

http://www.reuters.com/
LOS ANGELES (Reuters) - The company that runs one of the worst-performing mutual funds in the United States has taken a huge gamble by hiring the youngest mutual fund manager ever, a 20-year-old stock picker who has not graduated college.

Frontier Equity Fund, run by Freedom Investors Corp., hired Chris Lahiji after his fantasy mutual fund -- a stock portfolio that was tracked on the Internet but had no real money at risk -- racked up a 170 percent return in about a year.

The assets of Frontier Equity Fund, based in a suburb of Milwaukee, have jumped tenfold in the last half-year, most of it since Lahiji became co-manager in September, as investors, including his parents, poured in hundreds of thousands of dollars.
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Wow and this is actually serious.

These mutual funds hire bigger retards every year.
 
Quote from praetorian2:

Year I was 20, I made 245%.
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wayne1.jpg
 
I wouldn't mind giving some of my money to this kid. Obviously, he is doing something right to rack up gains. The botton line is to make money. A proven track record like other mutual funds may have certainly doesn't mean jack in the the future.
 
There is a big difference between racking up REAL gains versus papertrading sans commission.

We could all be a millionaire ten times over if papertrading was real and you didn't have to deal with commissions/slippage. Not to mention that if he really is running a mutual fund of any size, then he's going to have to learn new set of skills like not revealing the size of his load.

Its one thing to swing a few thousand shares in his "micro"stocks, but another thing entirely if he's going to swing thousands of BLOCKS.
 
It should be all about ability and maturity, regardless of age . Older people trying to portray themself as wiser but to me the young idiot will be an old idiot .
If he is a great picker he will do fine regardless where he works. There will be enough of money management people overruling him if he gets carried away.
Walter
 
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