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Get more of what you love. Follow more accounts to get instant updates about topics you care about. Find whats happening. See the latest conversations about any topic instantly. Never miss a Moment. Catch up instantly on the best stories happening as they unfold. Jonathan Lebeds Extracurricular Activities The New York Times. When I arrived one afternoon not long ago, the first person to the door was Greg Lebed, Jonathans 5. Black hair sprouted in many directions from the top of his head and joined together somewhere in the middle of his back. The curl of his lip seemed designed to shout abuse from a bleacher seat. He had become famous, briefly, when he ordered the worlds media off his front lawn and said, Im proud of my son. Later, elaborating on 6. Minutes, he said, Its not like he was out stealing the hubcaps off cars or peddling drugs to the neighbors. He led me to the family dining room, and without the slightest help from me, worked himself into a lather. He got out a photocopy of front page stories from The Daily News. One side had a snapshot of Bill and Hillary Clinton beside the headline Insufficient Evidence in Whitewater Case CLINTONS CLEARED the other side had a picture of Jonathan Lebed beside the headline Teen Stock Whiz Nailed. Over it all was scrawled in Gregs furious hand, U. S. Justice at Work. Look at that he shouted. This is what goes on in this countryThen, just as suddenly as he had erupted, he went dormant. Dont bother with me, he said. I get upset. He offered me a seat at the dining room table. Connie Lebed, Jonathans 4. She had a look on her face that as much as said I assume Greg has already started yelling about something. Dont mind him I certainly dont. Greg said testily, It was that goddamn computer what was the problem. My problem with the S. E. C., said Connie, ignoring her husband, was that they never called. One day we get this package from Federal Express with the whatdyacallit, the subpoenas inside. If only they had called me first. She will say this six times before the end of the day, with one of those marvelous harmonicalike wails that convey a sense of grievance maybe better than any noise on the planet. If only theyda caaaawwwwlled me. The wife brought that goddamn computer into this house in the first place, Greg said, hurling a thumb at Connie. Ever since that computer came into the house, this family was ruined. Connie absorbed the full frontal attack with an uncomprehending blink, and then said to me, as if her husband had never spoken My husband has a lot of anger. He gets worked up easily. Hes already had one heart attack. She neither expects nor receives the faintest reply from him. They obey the conventions of the stage. When one of them steps forward into the spotlight to narrate, the other recedes and freezes like a statue. Ten minutes into the conversation, Jonathan slouched in. Even that verb does not capture the mixture of sullenness and truculence with which he entered the room. He was long and thin and dressed in the prison costume of the American suburban teenager pants too big, sneakers gaping, a pirate hoop dangling from one ear. He looked away when he shook my hand and said Nice to meet you in a way that made it clear that he couldnt be less pleased. Then he sat down and said nothing while his parents returned to their split screen narration. At first glance, it was impossible to link Jonathan in the flesh to Jonathan on the Web. I have a file of his Internet postings, and theyre all pretty bombastic. Two days before the Fed. Ex package arrived bearing the S. E. C. s subpoenas, for instance, he logged onto the Internet and posted 2. Firetector ticker symbol FTEC Subj THE MOST UNDERVALUED STOCK EVERDate 20. Pacific Standard TimeFrom Lebed. TG1FTEC is starting to break out Next week, this thing will EXPLODE. Currently FTEC is trading for just 2 12 I am expecting to see FTEC at 2. VERY SOON. Let me explain why. Revenues for the year should very conservatively be around 2. The average company in the industry trades with a pricesales ratio of 3. With 1. 5. 7 million shares outstanding, this will value FTEC at. It is very possible that FTEC will see 4. I would like to remain very conservative. FTEC is still 2. The FTEC offices are extremely busy. I am hearing that a number of HUGE deals are being worked on. Once we get some news from FTEC and the word gets out about the company. MUCH HIGHER LEVELSI see little risk when purchasing FTEC at these DIRT CHEAP PRICES. FTEC is making TREMENDOUS PROFITS and is trading UNDER BOOK VALUEAnd so on. The author of that and dozens more like it now sat dully at the end of the familys dining room table and watched his parents take potshots at each other and their government. There wasnt an exclamation point in him. Jonathan opened an account with America Online. He went onto the Internet, at least at first, to meet other pro wrestling fans. He built a Web site dedicated to the greater glory of Stone Cold Steve Austin. But about the same time, by watching his father, he became interested in the stock market. In his 3. 0 plus years working for Amtrak, Greg Lebed had worked his way up to middle manager. Along the way, he accumulated maybe 1. Like half of America, he came to watch the markets daily upward leaps and jerks with keen interest. Jonathan saved him the trouble. When he came home from school, he turned on CNBC and watched the stock market ticker stream across the bottom of the screen, searching it for the symbols inside his fathers portfolio. Jonathan would sit there for hours staring at them, Connie said, as if Jonathan is miles away. I just liked to watch the numbers go across the screen, Jonathan said. WhyI dont know, he said. I just wondered, like, what they meant. At first, the numbers meant a chance to talk to his father. He would call his father at work whenever he saw one of his stocks cross the bottom of the television screen. This went on for about six months before Jonathan declared his own interest in owning stocks. On Sept. 2. 9, 1. Jonathans 1. 2th birthday, a savings bond his parents gave him at birth came due. He took the 8,0. The first stock he bought was America Online, at 2. CNBC. He said that it was a stupid company and that it would go to 2 cents, Jonathan chimed in, pointing at his father, who obeyed what now appeared to be the family rule and sat frozen at the back of some mental stage. AOL rose five points in a couple of weeks, and Jonathan had his father sell it. From this he learned that a you could make money quickly in the stock market, b his dad didnt know what he was talking about and c it paid him to exercise his own judgment on these matters. All three lessons were reinforced dramatically by what happened next. What happened next was that CNBC which Jonathan now rose at 5 every morning to watch announced a stock picking contest for students. Jonathan had wanted to join the contest on his own but was told that he needed to be on a team, and so he went and asked two friends to join him. Thousands of students from across the country set out to speculate their way to victory. Each afternoon CNBC announced the top five teams of the day. To get your name read out loud on television, you obviously opted for highly volatile stocks that stood a chance of doing well in the short term. Jonathans team, dubbing itself the Triple Threat, had a portfolio that rose 5. They remained in the Top 3 for the next three months, until in the last two weeks of the contest they collapsed. Even a fourth place finish was good enough to fetch a camera crew from CNBC, which came and filmed the team in Cedar Grove. The Triple Threat was featured in The Verona Cedar Grove Times and celebrated on television by the Cedar Grove Township Council. From then, everyone at work started asking me if Jonathan had any stock tips for them, said Greg. They still ask me, said Connie. By the Spring of 1. Jonathan was 1. 3, and his ambitions were growing. He had glimpsed the essential truth of the market that even people who called themselves professionals are often incapable of independent thought and that most people, though obsessed with money, have little ability to make decisions about it. He knew what he was doing, or thought he did. He had learned to find everything he wanted to know about a company on the Internet what he couldnt find, he ran down in the flesh. It became part of Connie Lebeds life to drive her son to various corporate headquarters to make sure they existed. He also persuaded her to open an account with Ameritrade. Hed done so well with the stock contest, I figured, Lets see what he can do, Connie said.
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