Fund Gambles on 20-Year-Old Stock Picker

Discussion in 'Trading' started by easyguru, Dec 1, 2003.

    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.
  2. JT47319


    They're screwed.
  3. Year I was 20, I made 245%. Give him a chance. They could hire a lot worse people.
  4. Mecro


    Wow and this is actually serious.

    These mutual funds hire bigger retards every year.
  5. funky


  6. sammybea


    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.
  7. JT47319


    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.
  8. FCM


    Good trading to the kid.I will be following his progress, with interest.
  9. 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.
  10. [​IMG]
    #10     Dec 4, 2003