Timothy Sykes Interview – Million Dollar Day Trader With An Online Business
July 23, 2009 - Written by Gyutae Park
Timothy Sykes has a unique story. While in college, he turned $12,415 of his Bar Mitzvah money into $1.65 million by shorting penny stocks. He attended Tulane University from 1999 to 2003, and by the end of his senior year, began a hedge fund, Cilantro Fund Management, later named Barclay’s #1 ranked Short-Bias Fund for 2003-2006.
In 2007, Sykes lost 35% of his hedge fund and moved on to create a publishing company, BullShip Press, and publish his book, “An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund.” He’s been featured in quite a few notable publications and has appeared on CNN, ABC, CBS, etc.
Tim is now 28 years old and has shifted his efforts back to trading. He blogs about trading on TimothySykes.com, gives away real time tips via TimAlerts, and even teaches his methods via his DVDs, ShortStocking and PennyStocking.
Gyutae Park: Tell us a little about yourself and your story. How exactly did you evolve from a poor college student to a superstar trader, author, blogger, hedge fund manager, and Internet marketer?
Timothy Sykes: Read it all at About Timothy Sykes
Hard work and the ability to seize upon worthy opportunities. I never planned on becoming a trader, the stock market was surging in 1999 and I was sidelined from my true love of tennis with an elbow injury. Right place, right time, but what helped me make $1 million by the end of my freshman year in 2000 was my work ethic to find and research thousands of penny stocks & chart patterns, eventually discovering and profiting from specific, predictable patterns.
Similarly, I never planned on becoming an author or blogger, but after my TV show ‘Wall Street Warriors’ became such a huge hit, I saw how uneducated and misinformed people were about stock trading, penny stocks and short selling so there was great opportunity in the financial education field.
Contrary to popular belief, I’m not even that great a marketer, I am the top-ranked trader out of 25,000+ on Covestor & nearly 1/3 of my students are in the top 100, but I only manage an average income of $100,000 or so per month…if I was any good, my instructional DVDs would be selling like hotcakes and I’d have a multi-million dollar business, especially since 95% of traders lose money so all I really have to do is prove I can help them breakeven!