Timothy Sykes

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Timothy Sykes
Born (1981-04-15) April 15, 1981 (age 40)
Alma materTulane University
Websitewww.timothysykes.com

Timothy Sykes is a penny stock trader.[1][2] He is known for earning $1.65 million from a $12,415 Bar mitzvah gift, through day trading while in college.[3][4]

Career[edit]

Sykes graduated from Tulane University in 2003 with a bachelor's degree in philosophy and a minor in business.[5] While at Tulane, Sykes routinely cut class to day trade.[6] In 2003, during his senior year, he founded Cilantro Fund Management, a short bias hedge fund,[7][8] using $1 million mostly from his friends and family.[9]

In 2006, Sykes was included on Trader Monthly's "30 Under 30" list of up-and-coming traders in the market,[10] a selection which editor Randall Lane later called "our worst pick" among the chosen honorees.[9] Sykes claimed that the Cilantro Fund was "the number one long-short microstock hedge fund in the country, according to Barclays";[9] 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.[11][12]

In 2008 Sykes decided to recreate his initial investing success by again starting with $12,415.[13][14] He named the attempt Transparent Investment Management (TIM).[3][15]

Sykes self-published An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund in 2007.[16] The book documented Sykes' experiences from day-trading in college to becoming a wealthy hedge fund manager.[17]

In 2012, Sykes created "Miss Penny Stock," a financial beauty pageant among the female representatives for his brand and company.[18][19]

Teaching and other projects[edit]

As of 2007, Sykes worked as a financial activist and educator.[20]

In 2007, Sykes launched TimothySykes.com. It serves as its own personal blog and a website dedicated to teaching penny stock trading.[21]

In 2009, Sykes launched Investimonials.com, a website devoted to collecting user reviews of financial services, videos, and books, as well as financial brokers.[22]

Sykes co-founded Profit.ly in 2011, a social service with about 20,000 users that provides stock trade information online.[23] Sykes said the service serves two purposes: "creating public track records for gurus, newsletter writers and students everyone to learn from both the wins and losses of other traders to benefit the entire industry."[24]

Sykes founded the Timothy Sykes Foundation, which has raised $600,000 and has partnered with Make-a-Wish Foundation and the Boys and Girls Club.[25]

In February 2017, Sykes donated $1 million to Pencils of Promise to help build 20 new primary schools across Ghana, Guatemala and Laos, to be completed between 2017 and 2018.[26]

Sykes is one of the founders of Karmagawa,[27] a charity dedicated to helping animals, preserving natural resources, and assisting those in need around the world. In 2019, Karmagawa worked with documentarian Amir Zakeri to create a documentary called "50 Minutes to Save the World,"[28] which documents the state of the coral reef.

Controversy[edit]

Sykes has publicly criticized various businesses and celebrities, including Shaquille O'Neal[29] and Justin Bieber,[30][31] for promoting "pump and dump" schemes,[30][32][33][34] 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 subsequently shorts the stock to profit from the resulting decline.

References[edit]

  1. ^ Yousuf, Hibah (December 16, 2013). "Trader turns $1,500 to $1 million in 3 years". CNN Money. Archived from the original on 2018-12-04. Retrieved 2019-08-27.
  2. ^ de la Merced, Michael (December 8, 2006). "Culturally, Hedge Funds Go Public". New York Times. Archived from the original on June 23, 2018. Retrieved February 23, 2017.
  3. ^ a b "Timothy Sykes Will Not Be Stopped, Gosh Darn It". New York Magazine. November 1, 2007. Archived from the original on June 23, 2018. Retrieved February 20, 2020.
  4. ^ Neal, Jeff (March 13, 2009). "Interview Central: Timothy Sykes, Part 1". Forbes.com. Archived from the original on October 19, 2017. Retrieved September 16, 2017.
  5. ^ "Timothy Sykes' LinkedIn Profile". LinkedIn. Archived from the original on 2010-02-27. Retrieved 2013-01-29.
  6. ^ Toren, Adam (October 25, 2011). "Young Entrepreneurs: "Quit being such babies!" Tim Sykes Tells it Like it Is". YoungEntrepreneur.com. Archived from the original on November 1, 2012. Retrieved 2019-08-27.
  7. ^ "US magazine toasts star traders aged 30 or younger" (PDF). Reuters. July 27, 2006. Archived (PDF) from the original on May 8, 2013. Retrieved January 29, 2013.
  8. ^ Joe, Michael (May 8, 2012). "Two students win Sykes Award recognizing nontraditional abilities and interests". Tulane.edu. Archived from the original on February 25, 2013.
  9. ^ a b c Randall Lane (2010). The Zeroes. page 56: Penguin Group. ISBN 978-1-59184-329-0.CS1 maint: location (link)
  10. ^ Barber, Andrew (August 2006). "30 under 30" (PDF). Trader Monthly. Archived (PDF) from the original on 2013-05-08. Retrieved 2013-01-31.
  11. ^ Thomassen, Lucilla. "5 Things You Should Know about Tim Sykes". TopTenPK.com. Archived from the original on 2013-01-20. Retrieved 2013-01-31.
  12. ^ Randall Lane (2010). The Zeroes. pages 151-153: Penguin Group. ISBN 978-1-59184-329-0.CS1 maint: location (link)
  13. ^ Hansard, Sara (November 12, 2007). "Wunderkid is Back". Investment News. Archived from the original on August 27, 2019. Retrieved August 27, 2019.
  14. ^ "'Wall Street Warriors' TV Star Timothy Sykes Sets Up New & Transparent Challenge". PR Web. November 1, 2007. Archived from the original on July 6, 2013. Retrieved January 31, 2013.
  15. ^ Kuhn, Eric (May 6, 2008). "From Bar Mitzvah Thousands to Bar Mitzvah Millions: Tim Sykes Launches New Site". Huffington Post. Archived from the original on September 2, 2017. Retrieved February 20, 2020.
  16. ^ 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 978-0979549700. Archived from the original on 2021-02-07. Retrieved 2017-09-16.
  17. ^ Chatzky, Jean. "An American Hedge Fund". Oprah.com. Archived from the original on 2010-05-15. Retrieved 2019-08-27.
  18. ^ "Stock up on girls". Page Six. 2012-08-23. Archived from the original on 2019-08-27. Retrieved 2019-08-27.
  19. ^ La Roche, Julia (Aug 23, 2012). "Penny Stock King Tim Sykes Is Hosting A Beauty Pageant Where Girls Will Parade Around In Bikinis And Cocktail Outfits". Business Insider. Archived from the original on 2017-02-19. Retrieved 2019-08-27.
  20. ^ "Party's Over for Hedge King". New York Post. September 21, 2007. Archived from the original on 2012-06-30. Retrieved 2019-08-27.
  21. ^ "Archived copy". Archived from the original on 2019-01-14. Retrieved 2019-01-14.CS1 maint: archived copy as title (link)
  22. ^ Kincaid, Jason (November 25, 2009). "Investimonials Wants To Be Your Guide To Quality Financial Products". Tech Crunch. Archived from the original on September 29, 2018. Retrieved June 25, 2017.
  23. ^ "Best Advice I Ever Got: Timothy Sykes". Inc. June 1, 2011. Archived from the original on May 16, 2013. Retrieved January 28, 2013.
  24. ^ Anderson, Tom (September 15, 2011). "Profit.ly Mines The Masses For Stock-Trading Gold". Forbes. Archived from the original on November 22, 2016. Retrieved September 16, 2017.
  25. ^ Rampton, John The Man Who Wants Everyone to Be a Millionaire Archived 2015-09-25 at the Wayback Machine Inc. September 24, 2015
  26. ^ "Make Money and Make an Impact with Tim Sykes". Lewis Howes. Archived from the original on 2017-02-13. Retrieved 2017-02-12.
  27. ^ Collins, Bryan. "Karmagawa's Timothy Sykes Says Philanthropy Will Change Your Business". Forbes. Archived from the original on 2020-06-22. Retrieved 2020-06-20.
  28. ^ "50 Minutes to Save the World - Youtube hit movie on conserving oceans". conservationmag.org. Archived from the original on 2020-06-22. Retrieved 2020-06-20.
  29. ^ Veneziani, Vince (March 3, 2010). "Tim Sykes: I Dare Shaq To Take Me To Court!". Business Insider. Archived from the original on 14 January 2013. Retrieved 7 January 2013.
  30. ^ a b Cunningham, Brandon. "The Curious Case of Justin Bieber and Options Media Group (aka PhoneGuard)". Motley Fool. Archived from the original on 2018-08-19. Retrieved 2013-01-28.
  31. ^ Peterson, Kim. "Justin Bieber's penny-stock trouble". MSN Money. Archived from the original on 27 May 2011.
  32. ^ Whitehouse, Kaja (2009-09-17). "Not Spongeworthy". New York Post. Archived from the original on 2019-08-27. Retrieved 2019-08-27.
  33. ^ Veneziani, Vince (May 5, 2010). "SpongeTech CEO Arrested For Fraud A Week After Suing Short-Seller". Business Insider. Archived from the original on 2019-08-27. Retrieved 2019-08-27.
  34. ^ Elstein, Aaron (2011-04-11). "Bill for Spongetech fraud: $52 million". Crain's New York Business. Archived from the original on 2019-08-27. Retrieved 2019-08-27.

External links[edit]