Amid arranging his prom date, lacrosse practice and getting homework done, teenager Cole Mattox launched a hedge fund out of his bedroom in suburban Montclair, New Jersey.
Mattox founded North Tabor Capital in March 2017 when he was 17 years old. Now, Mattox is 18, graduating from Seton Hall Preparatory School and headed to University of Pennsylvania's Wharton School of Business undergraduate program in the fall.
The young financier can't say who his clients are or how much they invested for legal and privacy reasons, but he says he has more than one and fewer than five clients in his hedge fund. They are all SEC accredited investors, says Mattox (which means they are making more than $200,000 year or $300,000 together with their spouse or have a net worth of more than $1 million excluding the value of their primary home). Mattox says he has over six figures in assets under management and, though he declined to disclose how much he is making running the fund, he says he does "pretty well" for a teenager.
Mattox has wanted to work in finance from a very young age. "Actually you know when I was in middle school they asked on a career day, 'What does everyone want to be?' And there are the typical answers of policemen, firefighter, professional athlete. And I actually wrote investment banker," Mattox tells CNBC Make It from his bedroom and office. "So that's where I am."