New York Mag Also Writes Fake Stuff
Posted on December 16th, 2014 in Uncategorized | 52 Comments »
New York Magazine’s Jessica Pressler wrote a pretty long story this week about a New York high school kid who made tens of millions of dollars in the stock market.
Mo, a cherubic senior with a goatee and slight faux-hawk, smiled shyly. “He’s quiet today,” said Patrick Trablusi, who was seated with Mo and Damir at a table littered with empty glasses. “Humble.” And tired: “This is our third meeting of the day,” Damir said, signaling to the waitress for another round. “We saw a real-estate agent, a lawyer, you …”
“Next we’re going to see a hedge-fund guy,” Patrick said. The friends locked eyes and started to giggle.
“He basically wants to give us $150 million,” Mo explained, a blush like a sunset creeping over his cheeks.
Perhaps that giggling should have told Ms. Pressler something—like, they were laughing at her—because it turns out that the story is fake.
A blush like a sunset creeping over his cheeks…
According to the New York Observer,
Monday’s edition of New York magazine includes an irresistible story about a Stuyvesant High senior named Mohammed Islam who had made a fortune investing in the stock market. Reporter Jessica Pressler wrote regarding the precise number, “Though he is shy about the $72 million number, he confirmed his net worth is in the “’high eight figures.’”
…now it turns out, the real number is … zero.
In an exclusive interview with Mr. Islam and his friend Damir Tulemaganbetov, who also featured heavily in the New York story, the baby faced boys who dress in suits with tie clips came clean. Swept up in a tide of media adulation, they made the whole thing up.
As the Observer points out,
Even if this working-class kid had somehow started with $100,000 as a high school freshman on day one at Stuy High, he’d have needed to average a compounded annualized return of something like 796% over the three years since. C’mon, man.
Well, first things first: Jessica Pressler, whom I’ve never met or spoken to, once took a gratuitous cheap shot at me for no reason other than being snarky. As words go, snark and karma have a lot in common.
More important, whether it’s with Jezebel or New York magazine, we’re seeing a generation of writers who simply haven’t learned to report. They grew up writing for blogs, where snark generates hits, which generates attention—and in the short term, that’s good for your career. Eventually, it catches up to you…call it “snarkarma.”
I mean, this is basic business reporting. This kid wasn’t even old enough to open a brokerage account, and Pressler has him generating an 800 percent annual return.
Pressler, by the way, has “protected” her tweets, so that if you’re not following her you can’t see them—another example of journalists who, when it comes to transparency, don’t practice what they preach….
But before she went Twitter-silent, Pressler tweeted, according to the New York Times, “It’s New York mag’s Reasons to Love issue, we’re not a financial publication.”
So that’s okay then.
New York has added a pretty mealy-mouthed “editor’s note” saying that they were really writing about a “rumor.”
…Our story portrays the $72 million figure as a rumor; the initial headline has been changed to more clearly reflect the fact that we did not know the exact figure he has made in trades….
Whether it’s Rolling Stone, Sabrina Rubin Erdely or Jessica Pressler, why is it so hard for people to admit when they’re wrong? The idea that New York magazine “is not a financial publication”—and by the way, New York does cover finance quite a lot—and that mitigates the idiocy of publishing this story is just so facile and morally irresponsible.
Ms. Pressler, by the way, is moving to Bloomberg next year to join the “financial investigative unit.”
According to Capital New York,
“I hear that when you go to Bloomberg, after you’ve been there a year, they give you a magazine that you can run into the ground,” said Pressler, jokingly (we think!).
I’m sure Bloomberg is feeling pretty good about their new hire right now.
In an email to the Washington Post, Pressler maintained her sassier-than-thou attitude.
“I’m I guess moderately surprised. In my day (2008?) it took at least a few days to cop to a fraud. I have to talk to nymag before officially comments as the story’s really theirs.”
The story’s really theirs? Way to own your work, Jessica.
The Post’s Terrence McCoy adds,
…how was he able to convince a reporter into thinking those returns had not only been real — but that he was worth “high eight figures?” A source close to the Islam family who requested anonymity because of the sensitivity of the issue told The Post Islam had “created some bulls—t thing on the computer with blacked out numbers. He said she could look at it for 10 seconds, and pulled it away.” The Washington Post couldn’t independently verify that claim.
The “she” here actually may refer to a fact-checker—the NY Mag editor’s note suggests as much—meaning that Pressler never even bothered to try to verify the young man’s claim; she just left it up to the fact checker. Hey, why not—the story’s really theirs, anyway!
By the way—has anyone ever seen Anna Merlan and Jessica Pressler in the same room?
Update: New York has amended its editor’s note, which now reads, in part: We were duped. Our fact-checking process was obviously inadequate; we take full responsibility and we should have known better. New York apologizes to our readers..
52 Responses
12/16/2014 10:35 am
That story was so unbelievably stupid at face value it only went to show the real moron was the “journalist” behind it.
12/16/2014 10:57 am
Neither Ms. Pressler nor Ms. Merlan seem smart enough to be justified in sporting such cloyingly smug faces.
Because I’m from the South, I’ll add the mandatory “bless their hearts” here.
12/16/2014 11:06 am
now there’s a room full of chin
12/16/2014 11:11 am
It seems now they admit they are wrong:
“But in an interview with the New York Observer last night, Islam now says his entire story was made up. A source close to the Islam family told the Washington Post that the statements were falsified. We were duped. Our fact-checking process was obviously inadequate; we take full responsibility and we should have known better. New York apologizes to our readers.”
12/16/2014 12:09 pm
And have you ever seen either one of these two in the same room as the Wicked Witch of the West?
12/16/2014 12:19 pm
In all seriousness, how can you be a reporter if you have absolutely no nose for the truth?
How did we get to a place where that is possible, even the norm?
Random people off the street have better bullshit detectors.
As impressive as was your insight a couple of weeks ago that there was something fishy about the RS story, Richard, what’s more remarkable is how rare it was among journalists. That should have been the normal reaction, one would have thought, for a seasoned professional journalist. I guess they don’t exist anymore at, say, The New York Times, but rather some other kind of beast.
What a Brave New World.
How do I get off it?
12/16/2014 12:20 pm
“…Our story portrays the $72 million figure as a rumor; the initial headline has been changed to more clearly reflect the fact that we did not know the exact figure he has made in trades….”
That line is as rich as Erdley’s “I wasn’t in the room” disclaimer.
12/16/2014 12:21 pm
This is precisely what happens when you fail to imbue professionals with professional ethics and a sense of purpose or obligation to society. Our pseudo-journalists think they have no responsibility for what they do or say. It’s “their story” after all, forgetting all of us depend on them to do what we can’t and verify. Funny how the world has a cold way of reminding people of their obligations.
If they want to turn journalism into fiction so be it but at least have the courtesy to place a warning saying “Read and Believe At Your Own Risk.”
12/16/2014 1:05 pm
Pressler seems like a loathsome individual.
I hope Bloomberg will throw her out on her ear…she was dropping f-bombs on her Twitter at people who were questioning her reporting.
People matter…if Bloomberg wants to put their brand at risk by employing a subpar “journalist” that’s their call. If it were me, I’d take a long, hard look at Pressler’s major journalistic faux paux, coupled with her lack of accountability and contrition, before I hitched my wagon to someone who comes of as bratty and unprofessional as she does.
12/16/2014 1:16 pm
This is possibly the best blog I have ever come across. Your writing on the Rolling Stone, Sabrina Rubin Erdely, and Jessica Pressler fiascos is eye opening. Thank you for the information.
12/16/2014 1:25 pm
According to jimromenesko.com …
My email to Bloomberg News:
“Is Jessica Pressler still joining Bloomberg News after being snookered by the high school student who claimed he made $72 million?
“Capital New York reported that she’s joining Bloomberg’s investigative unit; does Bloomberg have confidence in her investigative skills after this New York magazine fiasco?”
Bloomberg News spokesman Ty Trippet:
“Got your query passed to me. We’re declining to comment.”
12/16/2014 2:14 pm
How could journalism have failed to go in this direction given that writing the truth is often considered a greater transgression than lying?
In fact, those who refuse to lie about certain sensitive matters will be purged before they even have a chance to get started. And I have to blame professional journalists - even the good ones - for allowing this to happen all these years. Whether it’s out of cowardice or malice doesn’t really matter. You’ve let us all down, and there have been serious consequences. Take the Iraq Attaq debacle, for example. After shilling for that war on false pretenses and manufactured evidence, and being caught doing so, the NYT should never have been taken seriously again, yet it is. What does this tell young journalists?
And no, it isn’t social media or snark or click-bait that’s to blame. This soft Stalinism has been in force for longer than those have been around. You have to go back some 30 years to find a true commitment to facts no matter where they lead. In my adult life, I have never seen mainstream media tolerate any deviation from their shibboleths. This is why your (formerly) obscure blog was the first to question this UVa rape fiasco. Nobody else would have dared.
Not to detract from you, since you clearly deserve the credit for exposing this fabrication, but it’s true. Dishonesty is endemic in mainstream journalism, and Americans know it. This is why journalists are about as popular as attorneys these days.
12/16/2014 2:17 pm
I don’t disagree that many bloggers fail to learn how to report. (God bless the editor who has to deal with BuzzFeed list makers at their next jobs) but I think it’s unfair to categorize Pressler as such. She’s a great writer/reporter with a very sold track record. I think the problem is more with our institutions than with individual talents.
12/16/2014 2:36 pm
“Great” writer? Spare me…
There are plenty of great writers out there who aren’t blowing stories like this one. Her failure to properly report and do her job, plus subsequent behavior to either snark attack critics or crawl under a rock & avoid accountability does a major disservice to them.
I’ve seen this being repeated around Twitter- “But she’s a good/great reporter!” No, sorry- it’s not that easy. She made a pretty significant mistake here, so she should be judged on that and how she rehabs her seriously tarnished professional reputation going forward. It’s the age old “One aw, shit cancels out a 100 attagirls” at play, and on the heels of the RS controversy this is a pretty ridiculous thing to have happen.
Based on what she’s shown thus far- color me unimpressed with her reporting skills and attitude. Of course- what I think doesn’t matter a whit, but she deserves all the criticism coming her way right now. She’s taken the coward’s route instead of standing up and facing the music.
12/16/2014 2:49 pm
To be clear- I’m not saying Pressler or reporters have to be mistake-free in life.
I am saying that mistakes like this one, especially in light of recent events and her subsequent cavalier response to perpetuating a fraud even unintentional, means that pointing to her past accomplishments rings pretty hollow.
If she was a true pro as purported, a- she probably would not only be in this position, but b- would have had the maturity to step up and accept consequences for her mistake. Have not seen any indication of that, and therefore- Pressler does not deserve to be in the class of respected professionals.
Her Twitter feed, before she took it offline, was as laughable as it was embarrassingly tone deaf. She’s got a lot to learn and a lot of growing up to do. But if that kind of track record makes her a “great” reporter, then by golly- have at it.
12/16/2014 3:13 pm
Brian-I have to respectfully disagree, and not just because I’ve experienced her “reporting” first-hand. There’s no particular Jessica Pressler story that anyone remembers, and certainly no great piece of reporting. But more important, the way she’s handled this shows an incredible lack of professionalism that, frankly, you’d never find in a great reporter. She’s basically said, “What’s the big deal?” And, apparently, told doubters to fuck off. (Oops.) There’s nothing great about that-it’s just amateur hour.
12/16/2014 3:17 pm
Everyone — even a “talented professional” — stuffs up from time to time, sometimes more egregiously than others. The trick is in how you comport yourself afterwards.
That’s what separates the true professionals from the wannabes.
Pressler and Erdely have failed, in this regard, to impress.
12/16/2014 3:51 pm
richard, it looks like you found your niche. i love it.
12/16/2014 3:51 pm
The Bloomberg no comment is hilarious. We really are reaching idiocies up levels.
12/16/2014 4:03 pm
Jackie’s CATFISHING Exposed Further — “Haven Monahan” Was The First Drew
The link is on my Twitter account:
@TheDailyBail
12/16/2014 4:28 pm
I couldn’t believe how many people swallowed that story in the wake of the UVA hoax. I read it, knew instantly it was garbage (https://twitter.com/Ed_Realist/status/544175141286993920). In 5 minutes I found a story from a year ago that didn’t mention he had that kind of money, and then found an indepth article in his school paper in which he talked about the agony of losing $1400 once. It was OBVIOUSLY untrue.
Never mind investigative reporting. Don’t these people know how to google?
12/16/2014 4:32 pm
I’m pretty sure everyone here already knows what your Tweeter account is, Sabrina, given the number of times you’ve advertised it.
12/16/2014 4:55 pm
This is all true!! They made their fortune at Jukt Micronics…..
12/16/2014 4:59 pm
ANON
You act like I gain some benefit from covering this case, and posting updates here. We all have other things to do with our time. The only reason I mention my Twitter account is so that readers can actually see the links, which if posted here can takes hours to make it through “comment moderation.”
Lighten up, Francis. You’ve got a few issues to work on.
12/16/2014 5:27 pm
Have you wondered how the Jackie rape allegation would have played out with UVA’s new non-due process standards if Jackie had formally charged fake Drew? KC Johnson shows at mindingthecampus.com that much of the exonerating evidence would not be allowed at any UVA hearing. A UVA hearing would most likely result in a guilty verdict unless Drew could prove he was not at UVA during the alleged rape.
12/16/2014 5:44 pm
A little insight from the manosphere. Strong chins in women are a sign of high testosterone, High testosterone in women is associated with feminism and more masculine traits and behaviors.
12/16/2014 5:44 pm
Gotta love this quote from Emily Renda in the latest DC article:
“I’ll leave the fact-finding and truth-finding to someone else.”
Um… shouldn’t she have considered that before pimping out Jackie to SRE? Perhaps that falls outside her official job description.
12/16/2014 6:01 pm
“I’ll leave the fact-finding and truth-finding to someone else.”
Yet you had no problem giving your story and Jackie’s “story” to the Senate.
Let’s not forget she used Jackie Hoaxley’s little tale before a congressional panel in her push to form policy on a national level for the “1 in 4″ movement.
12/16/2014 6:02 pm
“Um… shouldn’t she have considered that before pimping out Jackie to SRE? Perhaps that falls outside her official job description.”
I think Renda, SRE, Merlan, and Pressler all found this item in the advertisements for their jobs:
“Important requirement: Must have been born yesterday.”
12/16/2014 7:46 pm
This is a MUST READ…
Check out the latest post on the “28 Sherman” blog, which details Emily Renda’s numerous visits to the White House this year and all this frightening campus rape policy (federal & state) stuff she’s involved in - there’s even photos included. Very sketchy…
12/16/2014 11:17 pm
Looks like she went to Temple University, I wonder if she attended on of Sabrina Rubin Erdely’s Classes.
The best is that she signed off of Twitter with a big “F— all of you” Nice.
Benjamin Franklin is spinning in his grave.
12/16/2014 11:20 pm
Pressler must have a string in her back that when pulled says “math is hard when it comes to investing”.
It is remarkable that Pressler could attend so many years of school and be so clueless about how utterly ridiculous her story was. Even if you had bought some of the greatest stocks at their low and sold at their high it would have been damn near impossible to have done what the story claimed.
Gullible is too kind a word to describe Pressler.
12/17/2014 12:46 am
The thing I don’t get is why didn’t she contact his parents at the beginning?
A story like the one she was writing could significantly affect the entire family. It would a courtesy to speak with them, and of course it would be unlikely any parents would participate in a hoax.
But even more than those issues, I don’t get the point of the article in the first place. Child prodigy stories are fluff.
“My father has a quote,” he said. “It’s really dope: ‘You can rob a bank with a gun, but you can rob the whole world with a bank.’ ”
His dad must have been proud to read that.
12/17/2014 2:20 am
I haven’t heard anyone bring this up, but the thing the jumped out at me as the biggest red flag wasn’t the $72 million or that he was 17, it was that he supposedly did all of this on his lunch break. It’s a special breed of entitlement, someone who has never worked a days labor in their life, to fall for that. Saying someone, anyone, made a lot of money is not unbelievable. That someone made a lot of money barely working, maybe one hour a day, that’s not the world we live in. Maybe it is for Pressler.
12/17/2014 3:51 am
You’d be amazed how common these sorts of Pressler stories are. As a bit of background, I currently work as a journalist of a type. I came up through blogging, have never had any professional training in journalism, have pretty much zero interviewing or reporting experience or skills. I’m also no great prose stylist, I can write but I’m never going to win prizes for it.
The one thing I do have, which pretty much the entire journalistic caste does not, is an understanding of numbers. No, not as a great mathematician but just a rough sense of when they make sense and when they don’t.
I know a great deal more about the British press than I do the US (have lived and worked in both countries, but am a Brit, living now in Europe) but it’s extremely common for a journalist to have had a (often very good) arts education and simply not get numbers. As here, that 900% a year return needed to make that sort of money. Heck, I know people at major newspapers who are hazy about the difference between a million and a billion.
It’s almost a sport in fact, wandering through the day’s newspapers to see who has screwed up over numbers.
The blog of the editor of Worth Magazine might not be quite the right place to make this point but I am continually impressed by the basic innumeracy of so many people in the newspaper and magazine world.
12/17/2014 6:27 am
Columbia Journalism Graduate: “I was told there would be no math!”
12/17/2014 7:12 am
RB writes:
“More important, whether it’s with Jezebel or New York magazine, we’re seeing a generation of writers who simply haven’t learned to report. They grew up writing for blogs, where snark generates hits…”
Market forces. We don’t want a pound of dead tree on our doorsteps every morning, twice that on the weekend. At least not if we have to pay for it. We would rather spend hours of our time researching ways to get past paywalls on the Internet than to pay a monthly subscription fee for Internet content.
Miserliness has consequences. Shrinking revenues mean shrinking budgets for on-the-ground, expensive reportage and for extensive background support systems. Snarky bloggers churning out clickbait are so much cheaper to maintain.
So this appears set to get worse instead of getting better.
12/17/2014 7:28 am
Perhaps ‘New York Mag Also Publishes Fake Stuff’ would be a better title.
12/17/2014 7:37 am
Anyone have a list of her tweets? If so, please hook us up!
12/17/2014 8:21 am
I tried to follow her on twitter but she won’t accept my request.. I guess she knows EVERY one is trying to do that and get some past stuff from her where she brags about being the ultimate professional and criticizes others for not fact-checking…
But if you want to have a look at some of her tweets before she locked up her account, look for:
“Reporter who broke bogus $72 million whiz kid story is pretty pleased with herself”
She is VERY arrogant and self-absorbed
12/17/2014 9:18 am
Her tweets are still visible via Yahoo’s Cache.
12/17/2014 9:22 am
Also via inangist (link to follow, but basically go to inangist.com and search for jpressler)
12/17/2014 9:22 am
http://inagist.com/search?q=jpressler
12/17/2014 9:27 am
This one’s lovely:
Jessica Pressler @jpressler
The piecemeal reports from WaPo re UVA are weird & creepy. Isn’t the whole lesson here that you finish the investigation *before* publishing?
6 days ago 12 Retweets | 3 Replies
12/17/2014 9:29 am
(sorry, those two anonymice are me … I thought my username would be “sticky”)
12/17/2014 9:35 am
And it’s inagist.com, non “inangist”. Sorry. Need tea.
12/17/2014 9:47 am
Eah, I think that’s a fair point…
12/17/2014 11:19 am
Tim Worstall,
You make a very good point about the innumeracy of so much of the chattering class, and how it undermines so much thinking and reporting.
It’s getting the incredibly simple stuff wrong that always gets to me.
For example, the thing that immediately set off alarms when I read the RS story was the number of guys who were supposedly involved in gang raping Jackie — seven raping and two supervising. I thought, nine guys at a distinguished university, who were obviously future oriented, all getting together and deciding, cold sober, to rape a classmate, with no fear of being caught and ruined for life? What’s the probability of that? Isn’t it quite a bit lower than that one student would make up a fantastic lie?
Likewise, with Bill Cosby, what’s the likelihood that over a dozen of the women he knew would come forward and falsely accuse him of sexual assault, all being sociopathic liars? On the other hand, what’s the likelihood that there might be just one sociopathic guy who was committing multiple sexual assaults? Again, the latter is far more likely.
None of this is rocket science. You needn’t have taken a course in probability to figure it out. But you must have some instinct for numbers and how they apply to the world.
And of course the 72 million supposedly made by the 17 year old is almost absurd on its face. If you have any feeling for how much 72 million is, and how hard it is to make such a large amount of money starting from nothing, and how few paths exist to generate that amount-virtually all requiring many years of struggle — you’d realize that for a 17 year old to do so would be either the success story of all history, or a stupendous lie.
12/18/2014 4:51 am
About the Bill Cosby thing, let’s not call what he likely did “rape.”
it’s sexual misconduct.
12/18/2014 6:41 pm
Speaking of missing bullshit detectors, how about this WSJ piece claiming most 3rd and 4th world countries offer paid maternity leave?: http://www.wsj.com/articles/susan-wojcicki-paid-maternity-leave-is-good-for-business-1418773756?KEYWORDS=wojcicki
12/18/2014 7:00 pm
Richard - Have you seen Bloomberg View’s take on Ms. Pressler’s masterpiece? It was published on their site earlier today.
By the way, any confirmation that JP and AM are one and the same?
12/20/2014 10:19 am
Bloomberg has rescinded their offer to Ms. Pressler. She is staying at NY magazine and they will be proud to continue publishing her work according to the Editor-in-Chief Adam Moss. What a hack! His career should be over for uttering those words. For anyone who has an open mind and didn’t know this before, it’s now clear that it’s okay to be a biased (at least if your a liberal or, ahem, ‘progressive’), sloppy half-doer at NY Magazine. I’m all for forgiving people’s mistakes, but when you flippantly refuse to acknowledge them…