The Media’s $72 Million Question . . .

Hindsight is 20-20. This has certainly been the case with that recent New York magazine story about a teenage trading genius who told a reporter that he had amassed a $72 million fortune in the stock market while attending high school.

Actually, hindsight emerged pretty quickly as the piece immediately set off a wave of skepticism:

 

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Look, financial literacy is hard. Financial journalism can be even harder. After all, some businesses prefer opacity to transparency, since there’s always more money to be made when the person on the other side of a trade has less information than you do.

 

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