Tim Sykes Has The Gargantuan Cojones To Ask His Friends To Clean His Dirty Underwear (And That's Not Necessarily A Bad Thing)

christianslater.jpgJust the other day we were thinking, “We wonder what that Tim Sykes fellow, paragon of modesty and restraint, is up to right now?” Since we knew many of you were thinking that too, we decided to check in with the debatably wunderkindish short-seller, who was more than happy to point us in the direction of a recent interview with Joe Concha of realhoboken.com: Hoboken’s Premier Online Magazine. (Don’t scoff—it’s just a quick Path ride away and considered by some to be the sixth borough of New York! Or the seventh, if you bought the Times’s story about a city 90 minutes south of New York). It was an long, dirty, and arduous task traversing the article but we did it-- for you (and because apparently, given enough of Carney's painkillers, we'll do anything. Plus, we figured that if CNBC's going to declare this "We've Had It With Legit Reporting Week," we might as well get on board).** Here are our findings:

1.Sykes isn’t just a short-seller. He’s a “Hedge Fund Guru.”

2.Sykes-y-boy may or may not be two steps away from having rape charges brought against him by a lying hooker out for money.

The fairly recent Tulane graduate is to Wall Street what Kobe Bryant was to basketball when he broke into the league right out of High School.

3. He knows the true value of friendship: Eggplant Parmigiana Wednesdays and thrice-weekly toilet scrubs. And French maid uniforms when the occasion calls for it.

Concha: Tell me about the hired help for your apartment.

Sykes: He’s a friend, a protégé. He doesn’t really have the money to afford rent in a West Village apartment, so he makes up for it with the cleaning and cooking.


**JK. JK, we're serious. But our love for you, Jonathan, is unflappable. You (or someone 18 rungs below you) hired us as an intern on the McEnroe Show in the summer of '04 and that's got to count for something--look where we are now!

3.He’s a man after Carney’s alcoholic,
“some-of-my-best-nights-have-turned-into-waking-up-in-an-alleyway-with-a-trannie-named-Snakes-mornings.”

Concha: You play in a pretty lucrative but high-risk space. How do you handle the pressure that goes along with moving so much money on a daily basis?

Sykes: I cannot stress enough that drinking, partying and taking time off dramatically helps trading results.

4.He is a Satan worshiper (see: similarities between Sykes and Carney, earlier) and hates America.

Concha: For those not in the trading game, what is it that you do exactly?

Sykes: I short-sale small cap and micro cap equities. My whole strategy is trying to find these stocks that shouldn’t be hot. Shorting is so mysterious; it’s kind of like hedge funds. So if you run a short-selling on a hedge fund, God forbid…you’re the fucking devil.

It’s unpatriotic. I’m betting against American companies…I’m rooting for them to fail. Little do they know that the companies I’m shorting don’t deserve to have a high stock price. So I’m not a bad guy…I’m just taking advantage of the fact that bad guys are out there.

5.He’s gay.

Concha: You star in a documentary called Wall Street Warriors (co-produced by Scott Gill, whose credits include Porn Star: The Legend of Ron Jeremy) and have had numerous articles written about you (Sykes has been featured on Reuters, CNN, CNN Money, CNBC and Trader Monthly’s ‘Top 30 under 30’). This makes you somewhat of a celebrity, at least in Wall Street circles. To that end, what actor do you most admire?

Sykes: Ashton Kutcher.

6. Someday, in the not too distant future, he’ll be recognized as more than “that guy who knocked over a freestanding fan on an episode of Wall Street Warriors while wearing only boxers and a robe with ‘Timmy’ stitched on the left pocket.”**

Concha: Where do you see yourself in 20 years?

Sykes: I probably will have started some incredible web site that I can’t even imagine right now that will revolutionize the world within 17 months, like You Tube.

**This will have less to do with a failed YouTube 2.0 and more do to with a David Blaine-esque effort to remain submerged in a tank of water on the floor of the NYSE for 5+ days. You knows those Wall Street Warriors, always with their ill-fated attempts at magic. Christian Slater will be on-hand, in some sort of capacity not known at this juncture.

Earlier: DealBreaker coverage of Wall Street Warriors
.


Greed is Good [Real Hoboken]

Comments

1

Posted by The Corner , Feb 27, 2007 11:46AM

7. That's not him in the picture.

2

Posted by Anon , Feb 27, 2007 11:49AM

8. If you've been keeping up, Christian Slater is the WSW mascot.

http://www.dealbreaker.com/2006/10/party_crash_wall_street_warrio.php

3

Posted by John , Feb 27, 2007 11:56AM

I can't believe this guy...Sykes is a small-time day trader. It's laughable to call him a hedge fund manager.

4

Posted by Green Wave , Feb 27, 2007 12:32PM

No surprise he went to Tulane. Harvard was once called the Tulane of the Northeast. TU breeds successful masterminds.

5

Posted by AJ , Feb 27, 2007 12:45PM

The number of southern schools that are some twist on the "Harvard of the South" or the "Princeton of the South" sickens me... and I'm from New Orleans.

Wiki even has an article on it: http://en.wikipedia.org/wiki/Southern_ivy

Every halfway decent southern school tries to justify their existence by comparing themselves to an Ivy.

6

Posted by Green Wave , Feb 27, 2007 12:54PM

AJ, I agree. There is no other word to describe it but "sickening". However, TU is different, in that it is Harvard, in this case, which actually refers to itself as the Tulane of the Northeast. I dont know how Tulane feels about a school like Harvard hanging on its coattails, but I do understand why Harvard would want to attach itself to such a highly regarded university.

7

Posted by Green Wave , Feb 27, 2007 12:56PM

AJ, I agree. There is no other word to describe it but "sickening". However, TU is different, in that it is Harvard, in this case, which actually refers to itself as the Tulane of the Northeast. I dont know how Tulane feels about a school like Harvard hanging on its coattails, but I do understand why Harvard would want to attach itself to such a highly regarded university.

8

Posted by InIT4the$ , Feb 27, 2007 1:04PM

Losing a 250k investor is never good, but losing 2.5mm or 25mm investor is even worse small fry

9

Posted by The Corner , Feb 27, 2007 3:25PM

Wow guess I missed that Christian Slater reference.

Also from NOLA, also went to a "Harvard of the South"

10

Posted by Mike Fagen , Sep 16, 2007 10:45AM

Just finished reading Sykes mediocre book. Its an empty and uninspiring story about Tim Sykes, a self-absorbed irresponsible stock trader. This book is NOT a “classic” and story is NOT “Rocky-like”(as author Sykes claims).

Sykes put the term “stock operator” in title in order to confuse all future book searches for Jesse Livermore’s excellent story (Reminiscences of a Stock Operator, by Edwin Lefèvre (1923)). This cheesy trick might help book sales, but needless to say, Sykes has nothing in common with the great trader Livermore.

Sykes comes across like a hyper/immature/video player-type Trader, which worked for him for a few years; then the law of averages caught up with him. His “return to the mean” continues during the past two years; and his very poor investment strategies are DOWN -36% since Jan 2006. His continous bad performance throughout 2007 shows that he does not learn from his mistakes; and readers can only cringe while watching Sykes slow motion demise.

11

Posted by SykesBookNotWorth$20 , Sep 17, 2007 5:55PM

I purchased Sykes book and read it over the weekend. It is a poorly written life story of a failed trader who has fallen on hard times. This book is basically like a blog of an average person who got lucky trading stocks (which it really should be - blog and nothing more).

Beware of all the phony glowing reviews for Sykes Book. Its the good ole boy network in high gear where authors/investment advisers use the buddy system to give fake good reviews to each other.

Book NOT worth $20!
Better bet is to buy book - Millionaire Traders by Kathy Lien. At least you will learn something. OR Curtis Faith's book.
(I like Tim, and hope he eventually finds a career through which he can succeed).

12

Posted by SykesOnCrack , Sep 23, 2007 2:37PM

SykesOnCrack:
"...MyBookWorth$200..."

SykesOnLithium:
"...I must stop losing OPM...my book is way to make me badly needed money because of Fund losses..."

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