When Stedmen started to lose hours from work at the beginning of the pandemic, he started to look for other ways to make money, which led him to try the stock market. Now he has a room in Clubhouse where he teaches people from all walks of life the possibilities of trading stocks in the stock market. Increasing representation among Black investors is a top priority.
“We want the whole village to not only help themselves but help their families and truly build a generational wealth,” he shares.
Video Transcript
The video opens on Stedmen using the Clubhouse app to talk to his online community.
Stedmen: Not to sound cocky, but we can make the money in the market. That's not the issue. Let me not give that money right back. That's just as easy as it is to make the money. Gain that profit today. Alright, I made my money, let me sit still.
Stedmen is starting his day with his dog Marley.
I have a Clubhouse room that we teach people the possibilities of trading options and stocks in the stock market. The morning usually starts by waking up, making some breakfast, letting Marley out, turning on CNBC, seeing what's going on with the world today.
Then I'll go upstairs and plan my day with my trade. I'll update my Discord with information on how I can help them. Of course, I have to have my coffee because I'm not a morning person, and the stock market has made me become one. Last year when the pandemic hit, my hours were cut short. At that time, I realized I have to find some other way to make money. I was like, "Okay, maybe I'll go back and try the stock market one more time."
I had started staying up late at night, doing all types of research on YouTube, reading books, PDFs, anything that I could get my hands on. One of my frat brothers — his name's Rico — he was saying, "Hey man, I'm thinking about doing this Clubhouse," and another one of our frat brothers, Jay Trey, reached out to me. It was just something where he was like, "Oh, we'll just try it." It just grew from there.
Clubhouse gives you access to people that you may have never been in contact with or been able to ask questions. We do have a variety of different backgrounds.
Talking to his dog: You're doing so good, Boo Boo. You act like you were ready for this moment.
Stedmen at his home office working and checking stocks.
You can find someone on that stage that you can relate to and see a little part of you in them and feel as if, well, if they can do this, then I can. We have kids in there, 17, 18, and then we have older adults that may have been in the stock market for 20 to 30-plus years. When we get up on stage and there's other people of color that may come in a room and they see us up there, it's empowering. You're like, "Wow, I didn't know that other Black people were out here trading stocks. I thought this was a white man's game" — when it's not. It's a game for anyone. Maybe we're late to their party, but we're here now.
We want the whole village to not only help themselves, but help their families and truly build a generational wealth. You see somebody's companies and they're passing it down to their sons and then their sons pass it down to their daughters. You don't want to be building on something, and then once you leave it, the next person has to start over. It's all about starting somewhere — not just saying, "Well, I want to get rich overnight." That's just not going to happen. The information that you obtain is something that becomes a skill and a tool. Once you have skills and tools, nobody can ever take that away from you.
Stedmen sitting on a chair, checking the stock market with his dog on his lap.
I could be anywhere in the world and still be able to trade and make money. To me, that's priceless. I get to have my buddy with me all the time. All right, don't act up.
17, 124, 131 It's oversold on the daily chart.
Rico: That's why we're looking at the daily right now. The daily looking real 130!
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