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A 32-Year-Old Trader Is Driving 21,000 Amateur Stock Investors

EToro has gained a devoted following in Europe and is now looking to the U.S.

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Source: d3sign/Moment RF
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Jay Smith isn’t a professional money manager. He’s just a 32-year-old living in southern England who spends his days playing the stock market.

But Smith, better known online as Jaynemesis, drives the investment decisions of more than 21,000 people with $40 million in assets who copy his trades on a digital platform called eToro. When he loads up on shares of FedEx, so do they, and when he shorts the Nasdaq index, they do that, too.