Teenagers' Interest in Investing Grows As the Stock Market Continues to climb.
By: Johanna Bennet
Dow Jones Newswire
Daniel Abrahamson wasn't even old enough to get into a PG-13 movie when he bought his first share of stock.
An avid comic book collector, he bought shares of Marvel Entertainment when he was 11 years old. Now 16, the CT high-school sophomore can't get into a R-rated movie on his own, but owns a portfolio of 13 stocks including DELL, CSCO, and AOL.
Mr. Abrahamson isn't alone.
While no defintive studies exist to prove it, experts agree that more teens are getting caught up in the same bull-market inspired enthusiasm that has driven their parents into the waiting arms of stockbrokers.
Accroding to a '98 study by TRU, as many as 17% of all teenagers own stock, while about 7% own Mutual funds. Those numbers according to experts could be on the rise.
"I have had alot of success. It has been a great bull market" Says Mr. Abrahamson.
<he article goes on for a little longer>
Daniel Miller, a 15-year old New Jersey resident, has been the target of much acclaim
and criticism from members of Silicon investor, a pop financial website. Message
boards dedicated to discussing his picks are some of the site's most heavily used
threads. Meanwhile, 17-year old Matt Brown of Florida has started his own message
board on SI, titled Club Fatt.
"I get e-mails from kids" Mr. Miller said. "I've been to college campuses where alot of kids follow me. They like it that they are following another kid. They want to know how to get started. I always tell them that it is dangerous out there. Losing money is easier than gaining money.".
Mr. Abrahamson and Miller , however, are the exceptions.
<goes on a few more paragraphs. You get the point...> |
