15-year-old launches third company

The company, primarily aimed at purchasing minority stakes in firms listed on the New York Stock Exchange, is also seeking to take advantage of a number of opportunities on the Jamaica and Trinidad and Tobago stock exchanges.

“There are several gems in the Caribbean stock markets and regional stock exchanges are significantly undervalued,” Cassell told the Jamaica Observer in an e-mailed response.

No stranger to the world of business, Cassell currently holds an investment portfolio comprising US Government bonds and shares in Sagicor Financial Corporation, Bank of Montserrat, in addition to 10 per cent preferred shares in a legal publishing company, West Indian Lawyers.

Through this newly incorporated investment vehicle, the teenager hopes to dramatically expand his investment holdings by carefully leveraging external capital to deploy in a number of globally diverse sectors, including media, financial services, commercial banking, Internet, technology, and consumer goods.

“There is a particular company that I have been looking at on the Jamaica Stock Exchange that has been growing steadily over the last five years,” Cassell stated in a press release. “However, despite the impressive growth, the stock price has been dormant.”

In fact, the young entrepreneur explained that the market price for the company is 50 per cent less than the actual value of the firm.

“This simply means that if I purchase a stake in that company, I’ll be getting it at a discount because the price that I will be buying the stock at is 50 per cent less than what it is actually worth. It is no different from buying a house for $300,000 that is really worth $600,000,” the young entrepreneur added.

Guided by his parents, at age eight, the fifth form student at Montserrat Secondary High School started his first venture — a greeting card company.

He later went on to learn web designs and started Chupz Business Solutions, which provides domain names and marketing services for clients in Jamaica, Trinidad, The Philippines, US, Montserrat and the UK.

At 13 years-old, Cassell started investing in companies and currently holds shares in Running Palmz.

“I love the world of investing because it teaches me patience, it tests my temperament and it allows me to get access to the place where the wealthy get richer,” he stated.

His businesses have served clients from Asia, Africa, Europe, North America and the Caribbean.

Now focusing on established companies that are domiciled in attractive industries, Cassell hopes to build the Abella Group into a multi-billion dollar holding company over the next 35 years.

“My goal for the Abella Group may be ridiculous, and even on the verge of delusional, but I prefer to fall short on an impossible goal than to fall short or even achieve a mediocre one,” he said.


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