“Stock Trading Whiz Kid” Fined $1.5 Million By SEC For Being a “Paper Trading” Fraud

Jon Alternative Media, Blogosphere, Corruption, Economy, Fiscal Policies, Government

One of the most amusing “investor” types to emerge as a result of the Fed’s 7-year-long attempt to centrally plan the market, has been the infamous 17-year-old “hedge fund” manager, who while not actually trading for lack of cash and, of course, the remotes clue what to do, was happy to advise others of his paper trades on twitter or via newsetters, and collect a fee for such “services.” And while it was easy to pretend trade for years and years as long as the Fed injected trillions into the “market”, levitating stocks every higher, lately it has been far more difficult, not only for real trader, but also for “paper traders” too.
Case in point, “stock trading whiz kid” Manuel E. Jesus, aka “Manny Backus” – and apparent chess prodidy based on his photo – and his newsletter company Wealthpire Inc.
This is how WealthPire describes, or rather, described itself:

This post was published at Zero Hedge on Sep 14, 2016.