Julian Marchese was 9 years old when he made his first trade. In high school, he skipped class on Fed Days.
When the Canadian finance wunderkind was just a teenager, he developed a quantitative, long-short equity strategy that runs on an automated basis on his computer. Investing his parents' money, he saw returns that would make any amateur day trader jealous.
Now a freshman student at NYU's Stern School of Business, Marchese and a partner at Yale are trying to launch a hedge fund out of their dorm rooms. Somehow, Marchese makes juggling school work with a social life and fledgling career as a hedge fund manager look attainable by anyone.
Julian Marchese, 18, lives in New York University's Founders Hall, home to 700 first-year students. His room on the 24th floor also serves as an interim office for Remora Capital, the nascent hedge fund he is founding with a partner at Yale.
Marchese, a native of Toronto, has developed a quantitative, long-short equity strategy that runs on an automated basis on a computer program. It serves as the backbone of Remora. While he's in class, it can make trades that satisfy his algorithm, which can be simplified as: "If the time is X and the rate of change is Y, buy the stock."
He invented the strategy when he was 14, so he could continue trading during school hours. In his first serious year trading, he made a 20% return on $30,000 of his parents' money in stocks. He took his model to "Dragon's Den," Canada's equivalent to "Shark Tank."
See the rest of the story at Business Insider