With every quick search, scroll of the mouse and tap of the enter key, Tao Xie is making money. With a stock portfolio that totals more than $160,000, Tao continues to double and almost triple his investments.
Xie is only 17 years old. But his success isn’t newfound luck, either.
Over the past three years, the senior has finished in the top three in the New York State stock market game, which annually draws in more than 4,000 competing students.
What You Need To Know
- Tao Xie has finished in the top three in the New York Stock Market Games three years in a row
- More than 4,000 students compete annually
- This year, Tao’s portfolio grew to more than $160,000
His success, he says, comes from his speculation.
"Most of the time, I’m not that scared when stocks go down. I don’t get too excited when stocks continuously go up," Xie said. "I think just my experience allowed me to remain rational, even when I lose money sometimes."
His success has brought him fame among his classmates and even drew questions from his teachers about how they should invest.
While he prefaces that he does not offer tips on what to buy and not buy, he does offer tips on how to invest.
Xie knows he’s still got a ways to go before he’s a professional trader. But those who sit on the other end of the spectrum – like Jason Alonzo, with 20-plus years of experience – says he’s impressed by Tao’s work.
"You can get lucky on one name on any given year, but to do it consistently shows they have a lot of hard work and a lot of foresight," Alonzo said.
Alonzo has seen young investors come and go with all the social media craze over stocks like GameStop, AMC and Bitcoin, but he offers them the same advice he offers everyone: Stay the course.
"Emotions drive a lot of the stock market. When things are going well, you’re not the smartest guy in the room. When things are going that bad, it’s never as bad as you think," Alonzo said. "Volatility happens in markets; there’s always drawdowns," Alonzo said. "You have to take a longer-term approach."
While Xie is still learning the tools to add to his financial tool box, he’s staying humble and playing the game.
"Just the general knowledge that there are always people better than me," Xie said. "I’m not some prodigy; maybe I’m just a guy who got lucky."