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He put his money into a savings account, but was unhappy with the paltry interest he earned. You could make money or lose money very, very quickly." Bruggemann, on the other hand, embraced the chaos.
His grandfather encouraged him to try the stock market and his father, a former Wall Street trader, eventually agreed to act as the custodian for an Etrade account. He was a fantasy football fanatic with a head for numbers and an attention to detail.
Four days after that, the company officially announced its share buyback program, and the price began to climb.
It’s a reminder to him that trading such volatile stocks is a dangerous game.
"I guess the rule of thumb is, when you invest in a penny stock, expect to lose every dollar you put in. "There have been several times where I put every dollar I’ve had on the line, and fortunately it's worked out almost every time." He stops, then corrects himself. Or else I’d have nothing." reviewed Bruggemann's trading records and bank statements for this piece.
In kindergarten his parents dressed him up as a concession boy for Halloween, complete with a tray carrying popcorn and candy.
"He came home with money, but no candy," remembers his mother, Lynn.
"There is a lot of fraud and manipulation, a lot of them are not legitimate companies," he says.