(CNNMoney) – Sudarshan Sridharan may not have the age to drive a Tesla car, but that is not enough reason not to benefit from the shares in that company's stock market.
Unlike other young people of his age, Sridharan, 16, manages about a quarter of a million dollars of his parents' retirement money. This might seem like a risky strategy and maybe not many people would take the advice of a teenager to control family finances, but Sridharan's parents have learned from their son's successful past as this North Carolina high school student has earned more. of $ 43,000 since mid-2013.
Sridharan's bet on Tesla shares became a profit of $ 17,000, according to financial documents that the family shared with CNNMoney, a figure higher than the $ 14,600 of earnings on Google and the 5,600 on Netflix that it obtained. All proceeds were put in an investment account in the name of their parents.
The love of the bag
Sridharan's fascination with the stock market began when he was in elementary school and was listening to radio information about the Great Economic Recession in the United States (2008-2016) with his father.
"My dad told me to listen to (the program) Marketplace on NPR and he bought me books on investment, that's how I got interested," Sridharan said.
At 12 years old, the young man began talking to his parents about his ideas in the stock market and they were understandably reluctant to let him invest. But the young man did not accept a no as an answer and created a Power Point presentation to sell the idea to his parents. Finally, they gave him a chance.
"At first it was really scary," said Sridharan Seshadri, father of Sudarshan, who explained that he himself was running the operations to limit the potential losses of his son's business.
But very soon, the parents became so convinced of their child's abilities to negotiate in the stock market that they sold a house that they had to deposit that money in the Wells Fargo account that their son was handling. Now he is in charge of investing and managing savings.
The family showed CNNMoney Wells Fargo documents confirming the investment earnings. Seshadri also said that his son is the only one who makes decisions about this account.
What do you invest in?
Before buying any stock, Sridharan asks himself two key questions: will he be in 10 years? Is this something that people need?
This explains the purchases of shares of Microsoft, Adobe and Google.
"These are actions that if they fall, the internet would be totally in chaos," said Sudarshan Sridharan, who plans to start a high school investment club next year.
Despite his successes, the young man has also had difficult times on account of "bad business." At a time this year when the financial market was in chaos, the young man lost more than $ 20,000 in Visa and Nike shares.
But the stock market is not the only thing that Sridharan focuses on, because he also plays basketball, a sport that adapts well to his 192 centimeters in height.
"I recognize my mother for giving me a different branch of possibilities," he said. Like other teenagers, Sridharan enjoys videogames and hopes to make a profit from that interest as well because he owns a digital sports team and hopes that at any time the opportunities for videogame competitions take off.
At the beginning of this adventure, Sridharan dreamed of becoming a hedge fund manager after finishing school. Although he thinks he wants to have a career in finance and stock exchanges, the young man is more interested in starting a company that doesn't need to be obsessed with the account.
“I have realized that money is not everything, but a tool that allows you to go from point A to point B,” he adds.