Timothy Sykes

Timothy Sykes
Born 1981
Orange, Connecticut
Residence Miami Beach, Florida
Alma mater Tulane University
Website http://www.timothysykes.com/

Timothy Sykes (born April 16, 1981) an American stock trader, entrepreneur, and penny stock expert.[1][2] He is best known for turning his bar mitzvah money into over $1 million by day trading in-between classes at Tulane University.[3][4]

Career

In 1999, while still in high school, Sykes took $12,415 he had received in bar mitzvah gift money and began day trading penny stocks.[5] He would turn this initial investment into over $1.65 million before the age of 21.[6]

Sykes graduated from Tulane University in 2003 with a bachelor's degree in philosophy and a minor in business.[7] While at Tulane, Sykes routinely skipped class to day trade.[8] In 2003, during his senior year, he founded Cilantro Fund Management LLC, a short bias hedge fund,[9][10] using $1 million mostly from Sykes' own friends and family.[11]

In 2006, Sykes was included on Trader Monthly's "30 Under 30" list of up-and-coming traders in the market,[12] a selection which editor Randall Lane later called "our worst pick" among the chosen honorees.[11] Sykes claimed that the Cilantro Fund was "the number one long-short microstock hedge fund in the country, according to Barclays";[13] Lane later discovered that the rating came from "the Barclay Group," a small research company based in Fairfield, Iowa, and not the well-known Barclay's British bank.[14][15]

In 2008 Sykes decided to recreate his initial investing success by again starting with $12,415.[16][17] He named the attempt Transparent Investment Management (TIM).[3][18] After two years, Sykes turned the initial sum into $90,368 and was the #1 ranked trader on Covestor.[19][20]

Sykes self-published An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund in 2007.[21] The book chronicled Sykes' rise from a day-trading college student to a multi-millionaire hedge fund manager.[22]

In 2012, Sykes created "Miss Penny Stock," a financial beauty pageant among the female representatives for his brand and company.[23][24]

Teaching and other projects

Sykes currently works as a financial activist and educator, with more than 2,000 students spread over 60 countries.[25][26]

In 2009, Sykes launched Investimonials.com, a website devoted to collecting user reviews of financial services, videos, and books, as well as financial brokers.[27]

Sykes co-founded Profit.ly in 2011, a social service with more than 20,000 users that provides stock trade information online.[28] Sykes said the service serves two purposes: "creating public track records for gurus, newsletter writers and students and allowing everyone to learn from both the wins and losses of other traders to benefit the entire industry.”[29]

In December 2013, CNN Money featured Sykes and his student Tim Grittani on the website's homepage.[1] Under Sykes's guidance and coaching, Grittani turned $1,500 into over $1 million in 3 years.[30] Grittani was Sykes's second student to earn over $1 million following Sykes's strategies.[1][30]

Sykes founded the Timothy Sykes Foundation, which has raised over $600,000 and has partnered with Make-a-Wish Foundation and the Boys and Girls Club.[31]

Controversy

Sykes is not a registered investment adviser, and has declined to provide the necessary brokerage statements and related documents to validate many of his claims.[32]

Sykes has publicly criticized various businesses and celebrities, including Shaquille O'Neal[33] and Justin Bieber,[34][35] for promoting "pump and dump" schemes,[34][36][37][38] in which an investor purchases stock, hypes others into buying that stock to inflate its price, then sells the shares at a higher price and shorts the profit from the resulting decline.

Media

Sykes was featured in the TV program Wall Street Warriors, which aired on MOJO.[39] He writes for AOL Finance and TheStreet.com.[40][41]

He has appeared as a guest on CNBC, CNN, Neil Cavuto (Fox), ABC's 20/20, CBS Sunday Morning, Oprah and Friends Radio, and others.[42][43][44][45][46]

Personal

In January 2015, Sykes became engaged to model Bianca Alexa.[47]

References

[48]

  1. 1 2 3 Yousuf, Hibah. "Trader turns $1,500 to $1 million in 3 years". CNN Money.
  2. ↑ de la Merced, Michael (December 8, 2006). "Culturally, Hedge Funds Go Public". New York Times.
  3. 1 2 "Timothy Sykes Will Not Be Stopped, Gosh Darn It". New York Magazine. November 1, 2007.
  4. ↑ Neal, Jeff (March 13, 2009). "Interview Central: Timothy Sykes, Part 1". Forbes.com.
  5. ↑ "Wanted: Fund Manager, No Experience Necessary". Business Week. March 5, 2006.
  6. ↑ "Young Manager Profile" (PDF). Alternative Universe. March 27, 2007.
  7. ↑ "Timothy Sykes' LinkedIn Profile". LinkedIn.
  8. ↑ Toren, Adam (October 25, 2011). "Young Entrepreneurs: "Quit being such babies!" Tim Sykes Tells it Like it Is". YoungEntrepreneur.com.
  9. ↑ "US magazine toasts star traders aged 30 or younger" (PDF). Reuters. July 27, 2006.
  10. ↑ Joe, Michael (May 8, 2012). "Two students win Sykes Award recognizing nontraditional abilities and interests". Tulane.edu.
  11. 1 2 Randall Lane (2010). The Zeroes. page 56: Penguin Group. ISBN 978-1-59184-329-0.
  12. ↑ Barber, Andrew (August 2006). "30 under 30" (PDF). Trader Monthly.
  13. ↑ Randall Lane (2010). The Zeroes. page 56: Penguin Group. ISBN 978-1-59184-329-0.
  14. ↑ Thomassen, Lucilla. "5 Things You Should Know about Tim Sykes". TopTenPK.com.
  15. ↑ Randall Lane (2010). The Zeroes. pages 151-153: Penguin Group. ISBN 978-1-59184-329-0.
  16. ↑ "Wunderkid is Back". Investment News. November 12, 2007.
  17. ↑ "'Wall Street Warriors' TV Star Timothy Sykes Sets Up New & Transparent Challenge". PR Web. November 1, 2007.
  18. ↑ Kuhn, Eric (May 6, 2008). "From Bar Mitzvah Thousands to Bar Mitzvah Millions: Tim Sykes Launches New Site". Huffington Post.
  19. ↑ Sykes, Timothy (November 2, 2009). "How To Turn $12,415 Into $90,368 In 2 Years [A BLUEPRINT]". TimothySykes.com.
  20. ↑ Goode, Michael (December 10, 2009). "A first look at auto-trading Tim Sykes using Covestor Investment Management". GoodeTrades.com.
  21. ↑ Sykes, Timothy (2007). An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund. BullShip Press. p. 235. ISBN 0979549701.
  22. ↑ Chatzky, Jean. "An American Hedge Fund". Oprah.com.
  23. ↑ "Stock up on girls". The New York Post.
  24. ↑ La Roche, Julia. "Penny Stock King Tim Sykes Is Hosting A Beauty Pageant Where Girls Will Parade Around In Bikinis And Cocktail Outfits". Business Insider.
  25. ↑ "Party's Over for Hedge King". New York Post. September 21, 2007.
  26. ↑ Warner, Andrew (January 29, 2010). "How A Self-Promoting Blogger Makes $1.3 Mil A Year And Still Gets No Respect – Timothy Sykes". Mixergy.com.
  27. ↑ Kincaid, Jason (November 25, 2009). "Investimonials Wants To Be Your Guide To Quality Financial Products". Tech Crunch.
  28. ↑ "Best Advice I Ever Got: Timothy Sykes". Inc. June 1, 2011.
  29. ↑ Anderson, Tom (September 15, 2011). "Profit.ly Mines The Masses For Stock-Trading Gold". Forbes.
  30. 1 2 "Veteran Trader Timothy Sykes Creates Two Millionaire Students, Proving the Average Joe Can Outperform Wall Street’s Big Boys". Reuters.
  31. ↑ Rampton, John The Man Who Wants Everyone to Be a Millionaire Inc. September 24, 2015
  32. ↑ http://www.huffingtonpost.com/dan-solin/learning-from-timothy-syk_b_4998799.html
  33. ↑ Veneziani, Vince (March 3, 2010). "Tim Sykes: I Dare Shaq To Take Me To Court!". Business Insider. Retrieved 7 January 2013.
  34. 1 2 Cunningham, Brandon. "The Curious Case of Justin Bieber and Options Media Group (aka PhoneGuard)". Motley Fool.
  35. ↑ Peterson, Kim. "Justin Bieber's penny-stock trouble". MSN Money.
  36. ↑ "Not Spongeworthy". New York Post.
  37. ↑ "SpongeTech CEO Arrested For Fraud A Week After Suing Short-Seller". Business Insider.
  38. ↑ "Bill for Spongetech fraud: $52 million". Crain's New York.
  39. ↑ "Hedge Funder Tim Sykes Bombs Out On Wall Street". Gawker. September 21, 2007.
  40. ↑ "CrunchBase Profile". CrunchBase.com.
  41. ↑ "The Street Profile". TheStreet.com.
  42. ↑ Koba, Mark. "Sykes: Late Week Contest Stock Picks". CNBC.
  43. ↑ "Tim Sykes on CNN". CNN.
  44. ↑ "Tim Sykes on Neil Cavuto". Neil Cavuto.
  45. ↑ "Timothy Sykes Interview 20/20".
  46. ↑ "Tim Sykes on CBS". CBS.
  47. ↑ Hannan, Caleb How to Make Millions by Marketing Yourself as a ‘Douche Bag’ Bloomberg. September 24, 2015
  48. ↑ How Tim Sykes became a Millionaire
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