|Residence||Miami Beach, Florida|
|Alma mater||Tulane University|
Timothy Sykes (born 1981) is an American stock trader, entrepreneur, and penny stock expert. He is best known for turning his bar mitzvah money into over $1 million by day trading in-between classes at Tulane University.
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. He would turn this initial investment into over $1.65 million before the age of 21. After being ranked the #1 short-biased hedge fund for 3 years by Barclay Group (no relation to Barclay's the bank), Sykes began focusing on investing rather than trading and his fund posted losses of more than 36% between January 2006 and July 2007 (while the overall market was up 25%) and Sykes shut down his fund.
In 2003, during his senior year, he founded Cilantro Fund Management LLC, a short bias hedge fund. BarclayHedge (no relation to Barclay's the bank) named Cilantro Fund Management LLC the #1 ranked short bias fund from 2003–2006. In 2006 Trader Monthly named Sykes one of the "Top 30 Under 30" traders in the market, although the author of that list later called Sykes their "most embarrassing by-product".
Sykes released An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund in 2007. The book chronicles Sykes' rise from a college student day trading penny stocks to the early-20s multimillionaire hedge fund manager and the lessons learned throughout.
In 2008 Sykes decided to recreate his initial investing success by again starting with $12,415. He named the attempt Transparent Investment Management (TIM). After two years, Sykes turned the initial sum into $90,368 and was the #1 ranked trader on Covestor.
Teaching and other projects
In 2009, Sykes launched Investimonials.com: a website devoted to collecting user reviews of financial services, videos, and books, as well as financial brokers.
Sykes co-founded Profit.ly in 2011, a social service with more than 20,000 users that provides stock trade information online. 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.”
In December 2013, CNN Money featured Sykes and his student Tim Grittani on the website's homepage. Under Sykes's guidance and coaching, Grittani turned $1,500 into over $1 million in 3 years. Grittani was Sykes's second student to earn over $1 million following Sykes's strategies.
In 2009, Sykes publicly accused soap-sponge company SpongeTech of being "a blatant pump and dump" scam. The New York Post would later pick up on Sykes' suspicions and run a story about the accusations. Both Sykes and The New York Post would be sued by SpongeTech. A week later SpongeTech's CEO was arrested and charged with conspiracy to commit securities fraud and obstruction of justice.
In 2010, Sykes drew attention after exposing Shaquille O'Neal's involvement in a "pump and dump" scam with NXT Nutritionals Holdings. The controversy surrounded O'Neal's paid endorsement on a mailer to potential NXT investors, and the stock's 76% crash a month after.
- Yousuf, Hibah. "Trader turns $1,500 to $1 million in 3 years". CNN Money.
- de la Merced, Michael (December 8, 2006). "Culturally, Hedge Funds Go Public". New York Times.
- "Timothy Sykes Will Not Be Stopped, Gosh Darn It". New York Magazine. November 1, 2007.
- Neal, Jeff (March 13, 2009). "Interview Central: Timothy Sykes, Part 1". Forbes.com.
- "Wanted: Fund Manager, No Experience Necessary". Business Week. March 5, 2006.
- "Young Manager Profile". Alternative Universe. March 27, 2007.
- Randall Lane (2010). The Zeroes. page 155: Penguin Group. ISBN 978-1-59184-329-0.
- Toren, Adam (October 25, 2011). "Young Entrepreneurs: "Quit being such babies!" Tim Sykes Tells it Like it Is". YoungEntrepreneur.com.
- "US magazine toasts star traders aged 30 or younger". Reuters. July 27, 2006.
- Joe, Michael (May 8, 2012). "Two students win Sykes Award recognizing nontraditional abilities and interests". Tulane.edu.
- Thomassen, Lucilla. "5 Things You Should Know about Tim Sykes". TopTenPK.com.
- Barber, Andrew (August 2006). "30 under 30". Trader Monthly.
- 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.
- Chatzky, Jean. "An American Hedge Fund". Oprah.com.
- "Wunderkid is Back". Investment News. November 12, 2007.
- "'Wall Street Warriors' TV Star Timothy Sykes Sets Up New & Transparent Challenge". PR Web. November 1, 2007.
- Kuhn, Eric (May 6, 2008). "From Bar Mitzvah Thousands to Bar Mitzvah Millions: Tim Sykes Launches New Site". Huffington Post.
- Sykes, Timothy (November 2, 2009). "How To Turn $12,415 Into $90,368 In 2 Years [A BLUEPRINT]". TimothySykes.com.
- Goode, Michael (December 10, 2009). "A first look at auto-trading Tim Sykes using Covestor Investment Management". GoodeTrades.com.
- "Stock up on girls". The New York Post.
- 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.
- "Party's Over for Hedge King". New York Post. September 21, 2007.
- 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.
- Kincaid, Jason (November 25, 2009). "Investimonials Wants To Be Your Guide To Quality Financial Products". Tech Crunch.
- "Best Advice I Ever Got: Timothy Sykes". Inc. June 1, 2011.
- Anderson, Tom (September 15, 2011). "Profit.ly Mines The Masses For Stock-Trading Gold". Forbes.
- "Veteran Trader Timothy Sykes Creates Two Millionaire Students, Proving the Average Joe Can Outperform Wall Street’s Big Boys". Reuters.
- "Hedge Funder Tim Sykes Bombs Out On Wall Street". Gawker. September 21, 2007.
- "CrunchBase Profile". CrunchBase.com.
- "The Street Profile". TheStreet.com.
- Koba, Mark. "Sykes: Late Week Contest Stock Picks". CNBC.
- "Tim Sykes on CNN". CNN.
- "Tim Sykes on Neil Cavuto". Neil Cavuto.
- "Timothy Sykes Interview 20/20".
- "Tim Sykes on CBS". CBS.
- Veneziani, Vince (March 3, 2010). "Tim Sykes: I Dare Shaq To Take Me To Court!". Business Insider. Retrieved 7 January 2013.
- Cunningham, Brandon. "The Curious Case of Justin Bieber and Options Media Group (aka PhoneGuard)". Motley Fool.
- "SpongeTech CEO Arrested For Fraud A Week After Suing Short-Seller". Business Insider.
- "Not Spongeworthy". New York Post.
- "Bill for Spongetech fraud: $52 million". Crain's New York.
- Peterson, Kim. "Justin Bieber's penny-stock trouble". MSN Money.