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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEXCLUSIVE: New York Mag’s Boy Genius Investor Made It All Up
Mondays edition of New York magazine includes an irresistible story about a Stuyvesant High senior named Mohammed Islam who had made a fortune investing in the stock market. Reporter Jessica Pressler wrote regarding the precise number, Though he is shy about the $72 million number, he confirmed his net worth is in the high eight figures. The New York Post followed up with a story of its own, with the fat figure playing a key role in the headline: High school student scores $72M playing the stock market.
And now it turns out, the real number is zero.
In an exclusive interview with Mr. Islam and his friend Damir Tulemaganbetov, who also featured heavily in the New York story, the baby faced boys who dress in suits with tie clips came clean. Swept up in a tide of media adulation, they made the whole thing up.
Speaking at the offices of their newly hired crisis pr firm, 5WPR, and handled by a phalanx of four, including the lawyer Ed Mermelstein of RheemBell & Mermelstein, Mr. Islam told a story that will be familiar to just about any 12th gradera fib turns into a lie turns into a rumor turns into a bunch of mainstream media stories and invitations to appear on CNBC.
And now it turns out, the real number is zero.
In an exclusive interview with Mr. Islam and his friend Damir Tulemaganbetov, who also featured heavily in the New York story, the baby faced boys who dress in suits with tie clips came clean. Swept up in a tide of media adulation, they made the whole thing up.
Speaking at the offices of their newly hired crisis pr firm, 5WPR, and handled by a phalanx of four, including the lawyer Ed Mermelstein of RheemBell & Mermelstein, Mr. Islam told a story that will be familiar to just about any 12th gradera fib turns into a lie turns into a rumor turns into a bunch of mainstream media stories and invitations to appear on CNBC.
http://observer.com/2014/12/exclusive-new-york-mags-boy-genius-investor-made-it-all-up/
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EXCLUSIVE: New York Mag’s Boy Genius Investor Made It All Up (Original Post)
boston bean
Dec 2014
OP
I probably should be over it by now, but I'm still amazed by the lack of fact checking.
Pacifist Patriot
Dec 2014
#2
I read it. they idolized the kock bros. god help us. A new generation of ass hats I thought.
roguevalley
Dec 2014
#5
Scuba
(53,475 posts)1. Journalism, 2014-style.
Pacifist Patriot
(24,654 posts)2. I probably should be over it by now, but I'm still amazed by the lack of fact checking.
Especially in a world where information has become so much easier to come by. It's not like a reporter would actually have to dig or anything!
closeupready
(29,503 posts)3. I knew that from the get-go.
Well, I mean, I wasn't sold on the story as written.
Or, as the writer writes:
So yeah, they probably should have known better. But New York and the New York Post probably should have, as well. This story smelled fishy the instant it appeared and a quick dance with the calculator probably would have saved these young menand a couple reporterssome embarrassment.
Though the NY Post has no shame, so I doubt there will be any embarrassment there.
librechik
(30,678 posts)4. Exactly.
I remember thinking--you did all that with penny stocks?
Damn him--this kind of story gets people to believe in the stock market. That's a bunch of lies too.
roguevalley
(40,656 posts)5. I read it. they idolized the kock bros. god help us. A new generation of ass hats I thought.