Timothy Sykes is a controversial character with quite the reputation. He’s a young and savvy, but big-mouthed Jewish stock trader that has made Wall Street people more than annoyed. And yet none of that has seemed to stop him in his path. He’s gotten it all done with swagger and an unforgiving confidence.
So what makes the guy so special? Well, he has been featured on the reality television show Wall Street Warriors, and is author of the book An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund. The investor is mostly known, however, for exposing and profiting from the short selling of penny stocks. An activity he has done very well in.
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He had a slightly different college experience compared to most people his age. Such as skipping classes in favor of trading penny stocks every day. It all started though back in 1994. Being a cocky Jewish kid, he gladly took his $12,415 in Bar Mitzvah gift money and amazingly turned it into $2 million. Doubling his money over the years, he eventually used the capital to start a hedge fund during his senior year at Tulane University.
But, just as quickly as his investments started, they came to an abrupt end particularly when his hedge fund lost some 35% of its worth. What happened next? Unfortunately, Timothy started to gain a brash and unfavorable reputation in the world of finance. Well-known traders started to lambast the youngin’ as he wasn’t living up to the hype in their eyes. Even Randall Lane, editor-in-chief of Trader Monthly said to Sykes in 2007:
“While you’ve been busily self-promoting, your track record this past year for yourself and your investors has been pitiful.”
Tim took that with a grain of salt and fought back. Because of the lack of transparency among traders and the large losses that come within the game of finance, many have tried to cover their tracks. That’s what makes Tim different than the rest though as he claims to be very open about his work in the industry. By doing this, he has been able to create millions just by publicly revealing his trade secrets.
His most recent venture includes, Profit.ly, an online community of over 15,000 traders who share their trade performances openly in order to help each other learn and improve earnings. Another one would be his online startup Investimonials, where 25,000 investors have gotten together to review financial products like software, trading blogs, newsletters, and financial movies to name a few.
Another piece of his success would be TimothySykes.com. The blog generated an impressive $3.3 million in revenue in the year 2011 alone through profitable blogging strategies and marketing tactics. It just shows though that brutal honesty can potentially get you into trouble… but also make you boats load of money.