Indiana University undergraduates Vishu Namburi and Ishaan Sandir created Eagle Investors last July, hoping to form a tightly-knit community of options traders.
Vishu Namburi and Ishaan Sandir started a $300,000-a-year business with that in mind, built on the idea that these Americans needed guidance. Many younger traders eventually wound up eschewing equities entirely and turned to options as markets rallied through spring. The assets, which are riskier than single stocks, let investors bet — often in levered fashion — on whether shares can surpass a certain price by a certain date.
"We're seeing a lot more younger kids come in with their Robinhood accounts. They're saying, 'Yeah, I'm 18, how do I trade?'" Namburi told Business Insider. "It's relatively easy right now to trade options ... but a lot of these traders don't understand what they're doing." The Diamond subscription touts one of Eagle Investors' more innovative features: an interactive day-trader. The company started working with the individual in the winter to stream his activity to the high-tier members, allowing them to learn from him and — if they so wish — directly copy his positions.
When the coronavirus pandemic slammed gold prices, Young's bearish bet netted him $4,800. He could have made more, but he followed advice learned on Eagle Investors and only used about 8% of his account balance for the trade. Sam Halse, a 29-year-old owner of a CPA firm, agreed that the students are punching above their weight. The Diamond-tier member joined Eagle Investors 11 months ago looking to learn the methodologies practiced by successful day-traders. Dabbling in options is "gambling until you make it not gambling," Halse said, adding the team behind Eagle Investors more than met his expectations.
The group isn't Kelley's first student-operated investment group, but it's the first to come "solely" from student origination, Andrew Butters, an assistant professor at the school and ECMG's faculty advisor, said.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »