Chance me for Business/Finance!

Chance Me / Match Me!
1

Might be a bit early but with all these seniors getting their decisions now, I’d like some opinions on my chances.

Current Junior

Stats:
GPA: 3.83 UW/4.68W
SAT I: N/A
ACT: 36
SAT II: 800(Bio, Math 2)
AP Scores: 5(CSP, Euro, Stats, Bio, Macro, Chinese), 4(Human Geography)
Class Rank: School doesn’t rank, but should be top 5%; if not, top 10%

APs taking this May: US History, Physics C, Lang, Calc BC, Psych, Music Theory, Micro
SAT IIs this June: 790(Physics), 780(US History)

Dual Enrollment: Have 18/24 credits needed to graduate with 2 degrees this summer: Finance, Business Administration
Senior Courses: AP Lit, AP Gov, AP Micro, AP Chem, Multivariable Calculus/Linear Algebra

Extracurriculars:
Varsity Lacrosse Captain
Internationally Competing Pianist
Co-President of MIT Entrepreneurship Club
President of Investing Club
VP of FBLA
Founded credited hedge fund, managing six figures and multiple employees
Founded e-commerce agency, dozens of online stores earning 6 figures in profit

Awards/Honors:
National AP Scholar
National Merit finalist
FBLA National awards in several categories
Won several international stock pitch competitions
Series 65 certified investment advisor
Certified Youth Investment Analyst(within a club, not sure if this is significant)
MTAC Level 10, State Panel Finalist, Carnegie Hall Performance
Writing economics paper with Duke Fuqua professor

Summer Programs:
LEAD at UPenn this summer!
HOBY leadership camp
EFL at UCLA

Letters of Rec (Keep in mind I’ve already talked to these teachers about writing them, and I’m just projecting how well I think they will turn out):
Econ teacher: 10/10: my favorite teacher throughout high school, have a deep connection with them
Physics teacher: 8/10: has a reputation as the most-liked/best teacher at my school, know them very well
Counselor: 7/10: big school but I made an effort to connect with them

Demographics/Description:
Asian male
CA native
No hooks
Applying for financial aid

Applying to:
UPenn, Stanford, Harvard, Princeton, Cornell, Columbia, Duke, USC, UCLA, UCSB, UCI, UCSD, Georgetown, UT Austin, UMich, UNC Chapel Hill, MIT, Boston University

Right now I’m worried about my GPA. Definitely slacked off a bit/made some mistakes freshman/sophomore year I wish I could go back in time and erase, but it’s too late now. Feel free to ask questions, give feedback, and especially share ideas about my college list right now. Thanks!

2

You have an impressive resume. I hope this doesn’t come across as too crass, but these two items stood out to me:

I’m worried that admissions officers will find these statements to be embellished. You really founded your own hedge fund and e-commerce agency? And are pulling in 7-8 figure income? This is difficult to believe, and from the perspective of an admissions reader, they will be doubtful as well. Is there anything you can put in your application to substantiate these accomplishments?

Your GPA and stats are fine BTW.

3

“Series 65 certified investment advisor”

I was under the impression that one needed to be 18 for any FINRA certs.

Also in regards to the hedge fund, is it an actual hedge fund or did your uncle setup a Robinhood account for you?

Going with Sgopal2 on this one.

4

As others have noted, those two ECs are wary to an admissions reader. They don’t have too much time to read apps, so they will judge very quickly. Besides that, I say that you focus on writing extraordinary essays that can differentiate yourself from other candidates. If you do that, I believe Boston University and UMichigan are targets, and the rest of the schools that you have are all reaches. This holds true for most applicants, regardless of how strong as applicants they can be, unless they have an exceptional hook (URM/ Celebrity Status/Donor etc.) That being said, you can potentially get accepted into the IVIES, or MIT, but that would depend on how compelling the rest of your application is, and that is, within the strengths of the applicant pool for that year you apply.

5

@sgopal2 Thanks for the response! I founded the hedge fund with help from my parents and some of their colleagues. Although it is not officially certified with the FINRA, I plan to begin filing for certification with a legal counsel within the next year. I lead the fund and manage a few part-time employees who are trained in financial analysis, and our clients are all SEC accredited which is technically our only certification. The total funds under our management add up to the low six-figure range.

As for the ecommerce agency, it is not an accredited business, but I designed it to oversee the growth and promote the dozens of stores I have created online within each other, mainly using the dropshipping/“middle man” business model. These stores have generated over six figures in profit(again on the low side), and we are also taking in paid clients from my school to teach them how to profit off e-commerce.

I understand how this may seem unlikely or improbable, and I will definitely try to add some of the numbers (i.e percent growth on the hedge fund, profit margins on ecommerce agency) to quantify the achievements.

Thanks for the tips!

6

@DoubleDigitSAT Thanks for responding! I made a mistake there, I’m going to go back and edit it. You’re totally correct about the age requirement for the FINRA exams. What I meant to portray was that I will be turning 18 in the fall of my senior year and hope to take the exam then, and there may be time to add this to my application if I am certified in time. I am not completely sure about any other qualifications necessary, but I’ll be sure to look into that as soon as this AP season is over.

In regards to the hedge fund, refer to my response above. I’ve actually been managing my parents’ stock portfolios on TD Ameritrade since I was 14(not filthy rich, they just trust me) and my success definitely inspired me to start my own fund. I haven’t heard much about Robinhood but it seems like a good idea for teenagers like myself to begin investing with no commissions on trades.

7

@Puzzeled101 Thanks for the feedback! Well written essays are definitely important, and of course, all of these schools are reaches for anyone unless hooked. All we can do is cross our fingers, right? :smiley:

8

You sound quite level headed. The advice you are receiving here is consistent. Resist the urge to overstate or embellish your accomplishments. If anything appear more humble, and let the others brag about you (letters of recc, etc).

With the recent cheating scandal, adcoms are on the alert for suspicious ECs. If it doesn’t add up, they will simply assume the worst and move on to the next candidate.

9

Appreciate the response.

Yeah there was a similar story in the past with a student who ran a “hedge fund” out of high school and there’s a few concerning things about it, mainly that

A: One needs to be 18 and FINRA licensed to be managing investor funds (I believe)

B: A hedge fund isn’t just a title, it’s an official designation. Last time I checked, you’re looking at $50k in legal fees at a minimum to get started.

Also, I find it hard to believe that your parents let you manage their retirement accounts at 14.

Hey, what you’re saying might all be true (and if so I applaud you for your finance skills) but especially in the wake of this recent admissions scandal, honesty is everything.

10

@sgopal2 Thanks again. I will be sure to stay humble and keep my application as modest as possible. Sounding too otherworldly definitely will come off as strange to the admissions officers.

11

@DoubleDigitSAT No problem! I appreciate your concern, as I’m just trying to figure out the best way to portray myself to colleges and your advice definitely will help. What you brought up about a previous student running a hedge fund is interesting, and I am aware of the long process in certifying a hedge fund, with all the legal requirements and whatnot. However, as I mentioned before, I am able to call it a “hedge fund” because the financial statuses of the clients who I manage meet the SEC’s requirements for actual hedge funds. The functionality in terms of being a hedge fund is the same, with my dad’s name on legal documents, and the money being routed to a local accounting firm and then to a certified broker. It’s similar to a “custodial” brokerage account in which the parent takes legal responsibilities, but I primarily run this fund with no babysitting from adults.

As for my parents letting me manage their stock portfolio, what’s not to believe? Personally, I have seen countless classmates and peers also begin investing at a young age. I had expressed enough interest and proven I understood enough for my parents to trust me in executing relatively low-risk trades every once in a while until I built up their trust enough to allow me to make bigger trades.