Timothy Sykes

Timothy Sykes is a penny stock trader.[1][2] He is known for turning $12,415 of Bar Mitzvah gift money into $1.65 million by day trading while attending Tulane University.[3][4]

Timothy Sykes
Born (1981-04-15) April 15, 1981
Orange, Connecticut, U.S.
Alma materTulane University
Websitewww.timothysykes.com

Career

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

Sykes currently works 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

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
  1. Yousuf, Hibah (December 16, 2013). "Trader turns $1,500 to $1 million in 3 years". CNN Money. Retrieved 2019-08-27.
  2. de la Merced, Michael (December 8, 2006). "Culturally, Hedge Funds Go Public". New York Times.
  3. "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. "Timothy Sykes' LinkedIn Profile". LinkedIn.
  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.
  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. 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.
  11. Thomassen, Lucilla. "5 Things You Should Know about Tim Sykes". TopTenPK.com.
  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.
  14. "'Wall Street Warriors' TV Star Timothy Sykes Sets Up New & Transparent Challenge". PR Web. November 1, 2007.
  15. Kuhn, Eric (May 6, 2008). "From Bar Mitzvah Thousands to Bar Mitzvah Millions: Tim Sykes Launches New Site". Huffington Post.
  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.
  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. 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. Retrieved 2019-08-27.
  20. "Party's Over for Hedge King". New York Post. September 21, 2007. Retrieved 2019-08-27.
  21. https://www.timothysykes.com/penny-stocks/
  22. Kincaid, Jason (November 25, 2009). "Investimonials Wants To Be Your Guide To Quality Financial Products". Tech Crunch.
  23. "Best Advice I Ever Got: Timothy Sykes". Inc. June 1, 2011.
  24. Anderson, Tom (September 15, 2011). "Profit.ly Mines The Masses For Stock-Trading Gold". Forbes.
  25. Rampton, John The Man Who Wants Everyone to Be a Millionaire Inc. September 24, 2015
  26. "Make Money and Make an Impact with Tim Sykes". Lewis Howes.
  27. Collins, Bryan. "Karmagawa's Timothy Sykes Says Philanthropy Will Change Your Business". Forbes. Retrieved 2020-06-20.
  28. "50 Minutes to Save the World - Youtube hit movie on conserving oceans". conservationmag.org. 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. Cunningham, Brandon. "The Curious Case of Justin Bieber and Options Media Group (aka PhoneGuard)". Motley Fool.
  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. Retrieved 2019-08-27.
  33. Veneziani, Vince (May 5, 2010). "SpongeTech CEO Arrested For Fraud A Week After Suing Short-Seller". Business Insider. Retrieved 2019-08-27.
  34. Elstein, Aaron (2011-04-11). "Bill for Spongetech fraud: $52 million". Crain's New York Business. Retrieved 2019-08-27.
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