Notre Dame – Jacob Brown, 18, rising Notre Dame University freshmen plans to study finance and business. “I’ve been fascinated with the market since I was a little kid,” Jacob said. “My goal is to land a job at a multi-asset hedge fund where I can hone my analytical and entrepreneurial ability.” Jacob wants to pick stocks.
“To show my dedication to the market I took out over $1 million in student loans this spring and shorted the market.”
Jacob took out low interest rate student loans and ended up shorting the S&P 500 (“SPY”) in early February. Jacob has more than doubled his money and closed out of his position.
“It’s an amazing feeling borrowing cheap debt and becoming a millionaire in a few months,” Jacob stated. “What even more awesome is that there are talks of student loans getting forgiven – this is free money.”
Jacob has already pulled out $10 million in student loans and invested the money in the S&P 500 going long this time.
“Look, if I lose money on this trade the government will just forgive my loans. If you are not doing this what the hell are you doing?”