Monday, March 17, 2008

alexander's boys

it's time to record an idea I've had for a while: an organization that will teach economic independence and sustainability, crossed with education...

I'd like to name this alexander's boys after alexander hamilton, who lifted himself from relative poverty to success with financial mastery..

it's simple: lease a store front or house in an inner city. invite kids who normally would be at risk of gang or criminal activities and sit them in front of computers with mock stock and currency trading accounts. have them trade using virtual funds, and use the organization's money to PAY the kids who do the best.

even though they know nothing about economics or companies, some of them will become successful traders. at a certain point, give them real money and share their profits 50-50 with the organization.

this entity could potentially be a school, or be set up as a philanthropy. alternately, it could be run completely as a for-profit private enterprise. after all, the biggest cost in any financial firm like this is salary... since you're starting off with teenagers with low education and skills, they'd be happy earning just a tiny fraction of what normal wall street professionals would make.

the labor laws would be an issue in this. perhaps it could be done better outside the USA.... but it would be an interesting dhando idea... small risk, but relatively high potential reward. who knows how many great potential traders currently live in muck on the streets of calcutta?

1 comment:

Leslie said...

soror here.

"they'd be happy earning just a tiny fraction of what normal wall street professionals would make."

Things like that can work. I have never heard of anyone doing trading with kids, but paying them for results is definitly a solid way to get them to learn stuff. The problem is that they do not care what wall street pros make. They compare their income to their street pro friends who make their money on drugs. And you'd have to glue your computers down so those same friends did not walk off with them.