• 01 Oct 2007 at 3:00 PM
  • Tim Sykes

Breaking: CILANTRO FUND PARTNERS CLOSING

drudge+siren.gifDo you feel that? A lessening in the strength of the evil being the surrounds us all and plagues this website with unfortunate regularity? That’s because, and this is basically just a formality at this point, hedge fund manager (and self-described) guru Tim Sykes has officially shuttered his day trading operation, Cilantro Fund Partners, LP, the one-man act he started in a Tulane dorm room in March 2003.
Many of you will likely feel conflicted about this news. On the one hand, you might say it is Sykes’s way of finally acknowledging the fact that he is a failure. That he has no place in the trading world. That his Bloomberg account finally expired, etc. On the other hand, it means that he will now be able to devote his entire existence to full-on media whoredom, without little things like the executing of trades getting in his way. Regardless, tears, whether or joy or sadness, will be shed. For those of you wondering if Tim will be changing his screen name, currently CilantroFP, to something more appropriate, given his new employment status, the answer is that he has not yet decided, but would like DealBreaker readers to offer any suggestions they might have.
Full “press-release,” in which Sykes fails to give us an update on where things lie with his invitation to next year’s Trader Monthly “30 Under 30” party, after the jump.


timothy.jpg

Cilantro Fund Closing, Read All About It In New Book
Today, it is both with great sadness and joy that I am announcing the closing of my hedge fund, Cilantro Fund Partners, LP and the official release of my debut book An American Hedge Fund. Thanks to the success of my TV show, ‘Wall Street Warriors’, I’ve been inundated with questions from people wanting to know more about stock trading and hedge funds. I am sick and tired of how little the general public knows about these subjects. Some of you might not think this is relevant to you, but you’re wrong. Whether you’re in finance or not, this is about protecting our right to freedom of speech.
SEC regulations prohibit hedge funds from advertising, talking to the press and detailing our businesses to anybody worth less than $1 million. This has created an environment ripe with manipulation and ignorance, causing trillions of dollars in unnecessary losses. I, along with the rest of the hedge fund industry, have been prohibited from discussing our profession because it is not fit for public consumption. This is absurd. We represent the very definition of American Entrepreneurship and yet we have been forced into silence. Hedge funds have $2 trillion invested, are responsible for nearly 40% of all market activity and yet nobody has any idea as to the inner-workings of this colossal industry. Great sums of money are made and lost every day and yet our inability to pass on our experiences to others prohibits us from learning–this is extremely dangerous.
Wealthy and non-wealthy investors alike should be free to learn about hedge funds and the speculative strategies they employ in order to practice safer and more profitable investing.
No longer will I play by these misguided rules. I should be free to discuss my business, for I am an American entrepreneur. I call this freedom of finance. Freedom of finance is the concept of a hedge fund manager’s right to discuss business freely without fear of penalty or censorship. I practice what I preach; An American Hedge Fund is my story.
Perhaps more importantly, my book also aims to get people excited about finance. It’s incredibly important to start learning about business and finance at a young age, but due to the boring subject matter, young people instead turn to ‘American Idol’ and ‘America’s Next Top Model’. I can definitely relate–all but a few finance books have bored me to tears. So I made sure to not make that mistake and based on over 150 pre-release testimonials, it looks like I’ve succeeded. Here’s a passage from my latest review from Spencer Jakab of the Dow Jones Newswire:
“The tale is “like a Catcher in the Rye for traders” in the words of Aaron C. Brown, an executive at giant hedge fund company AQR Capital Management and an author in his own right of the acclaimed book “The Poker Face of Wall Street.” There’s certainly a dash of Holden Caulfield to Sykes, but there’s at least an equal part Larry Livingston, the trader in Edwin LeFevre’s classic “Reminiscences of a Stock Operator.” Though nominally fictional and written in the first person, Livingston’s story is a thinly-veiled biography of Jesse Livermore, the “boy plunger” who captivated Wall Street in the early 20th century with his bold, instinctive trading. To round out the package, there’s a good bit of James Cramer in Sykes too.”
So please check out An American Hedge Fund and let me know what you think. This is just the first of many products my new publishing company, BullShip Press, will be launching over the coming months and years. Yes, that’s seriously the name of my new company, it’s inspired by what I think most people on Wall Street are full of and what I’m determined to cut through. So get ready to be educated and entertained.

Tim Sykes’s Official Website [Timothy Sykes]

31 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (31)

  1. Posted by Kanye East | October 1, 2007 at 3:07 PM

    What’s the severance package at Cilantro?

  2. Posted by Evaluator Speculator | October 1, 2007 at 3:07 PM

    How abt a new id – TOAST!

  3. Posted by Anonymous | October 1, 2007 at 3:14 PM

    Haha Bess you are such an instigator. I’m sure Timmay really wants to hear MORE about what DB readers think about him.

  4. Posted by Pitcher or Catcher in the Rye? | October 1, 2007 at 3:17 PM

    He should change his screen name to DBagBarMitzfahBoy

  5. Posted by Anonymous | October 1, 2007 at 3:20 PM

    Wow. Is his dumb book as poorly written as his missive about the closing of his fund?

  6. Posted by fdafasfZD@aol.com | October 1, 2007 at 3:44 PM

    damn, I was just about to wire him $10 M….too bad the fund is closed…

  7. Posted by fsf | October 1, 2007 at 3:54 PM

    Does he realize that in” The Catcher in the Rye” Holden has a nervous breakdown??
    Or is that his point?

  8. Posted by Anonymous | October 1, 2007 at 3:57 PM

    I love the drudge’esque flashing light.

  9. Posted by Jamie.BuchersGhost | October 1, 2007 at 4:04 PM

    Where can i buy puts on BullShip press?

  10. Posted by cilantro investor | October 1, 2007 at 4:07 PM

    Noooooooooooooooooooooooooooooo!!! Where will I reinvest the $4.60 left over from my initial $10.00 investment in Cilantro? Where will I ever find such an elite fund again?

  11. Posted by The Rock | October 1, 2007 at 4:12 PM

    “I am sick and tired of how little the general public knows about these subjects.”
    Some would argue that Mr. Sykes has no knowledge of these matters either.

  12. Posted by Anonymous | October 1, 2007 at 4:14 PM

    This guy is such a tool, I cant put it into words. I hope I meet this j/o out somewhere so I can mock him pubicly

  13. Posted by agreed, sykes blows | October 1, 2007 at 4:53 PM

    LOL, this chutzpah blows away Goldman’s 26 Sigma Event letter by a mile.
    “Guys, I regret to announce… the belated closing of my fund, CilanHEY DOODZ CHECK OUT MY NEW BOOK ITS TOTALLY AWESOME CUZ IM EDUCATING THE AMERICAN CONSUMER ABOUT FUCKING UP AS GOOD AS I DID,,GO CAPITALISM WOOHOOooo”
    “PS WRITING STORIES ABOUT BLOWING THRU UR MONEY IS TEH AWESOME LATERZ”
    Sykes: the AQR guy insulted you. Cramer made his fortune feeding misinformation to credulous reporters. You are not even as good as Cramer is.

  14. Posted by Anonymous | October 1, 2007 at 5:35 PM

    Well, he’s got that ping-pong table in the background, maybe if the whole writer thing doesn’t work out he can take up professional ping-pong.
    I’m sure there’s a huge demand for pro ping-pong/publishers in New York. He’s got the leg up.

  15. Posted by NotNasser | October 1, 2007 at 7:12 PM

    I guarantee you, I’ve been shedding more tears for the New York Mets today than I’ll ever shed for Mr. Sykes.
    There is some odd parallelism there, though.

  16. Posted by SykesBook SUCKS!! | October 1, 2007 at 9:05 PM

    Sykes said: “..It’ll be a lot easier for me to teach 1,000 people to make $10,000 …”
    Uh oh….Here is a warning about Sykes/BullShit Express:
    1) He closes the failed Cilantro Fund because it had an audited track record which documented his failures, then
    2) Now, with the Fund closed he can BullShit his “trades” to newbies and suckers.
    For example, Sykes will name a bunch of possible trades and then take credit for anything that works.
    3) Sykes will not have any audited track record; so all aboard the BullShit Sykes express!

  17. Posted by BookNotWorth$20 | October 1, 2007 at 9:09 PM

    Tim,
    Your “story book” is terrible. There have been so many other blowouts, and unlike yours many are actually interesting like Hunt brothers, LTCM, Livermore etc.
    What’s so special about your BLOWOUT? NOTHING!! Have you not read FOOLED BY RANDOMNESS, or do you not know what BLACK SWAN Means..
    Vic’s implosion, LTCM implosion were a treat to watch. You are just a kid nobody cares about. Even Jesse Livermore Lost it all 3 times or maybe more..
    Tim, can you tell me again..What’s so special about your failure?? Frankly 2mil isn’t much..so you never made it..So how can you lose it all.
    Moreover your’s is not a story of someone WHO LOST IT ALL and had GUTS TO carry on and make it all back again.
    ONCE YOU lost your money, you just changed your profession.haha…
    What a FIGHTER..haha
    Book is not worth $20

  18. Posted by Poor Keith... | October 1, 2007 at 10:36 PM

    Wow, Keith is now out of a job! He just started with Cilantro last week!

  19. Posted by TheOverdog | October 1, 2007 at 11:38 PM

    Their’s not to reason why,
    Their’s but to do and die.
    Into the valley of Death
    Rode the Cilantro.
    But seriously, what’s he gonna do post CNBC? Fame is fickle, and he doesn’t have a second story of the American dream to write right now.
    Think any brokerage would hire him, or will he be cold calling?

  20. Posted by Anonymous | October 2, 2007 at 1:52 AM

    Tim is a marketing genius, remember this post 2 years from now

  21. Posted by Anonymous | October 2, 2007 at 8:00 AM

    Next, he will be selling cheesy DVD’s on trading penny stocks on infomercials….
    Big fall for Sykes: a failed american hedge fund manager..

  22. Posted by Whattajoke | October 2, 2007 at 9:00 AM

    Daytrader Daytrader

  23. Posted by Anonymous | October 2, 2007 at 1:23 PM

    Clearly he doesnt know what his doing– his down 33% YTD– IDIOT

  24. Posted by FailedFundMangerSykes | October 4, 2007 at 10:32 PM

    It’s beyond sad that he doesn’t realize what a laughingstock he has become in the trading world. The guy is getting ripped to shreads everywhere. His book isnt selling that well…..the only thing he grabs onto is a few reviews by bloggers that comapre his book…to…..hold on….LOL…Livermore’s book.
    Now he is falling even farther by selling a DVD on trading penny stocks……yeah…that will be a huge seller. The guy is toast.

  25. Posted by Anonymous | October 4, 2007 at 10:41 PM

    I read most of your book on here…rather boring…yes you are very honest….but that doesnt make it good/interesting. It’s like a baseball player who bats .150 writing a book on why he can’t hit…..who wants to read that?
    Who are you trying to pedal your DVD to? Surely not the inexperienced people you say that are your target audience for the book. That would be leading them off of a cliff.
    You might be laughing at the end…but that will be as you are bouncing around in a padded cell in some mental hospital. Give it up man…you are burying yourself. Close your fund….take whatever capital you have left and trade these “great ideas” for yourself. Your “media” career is already in shambles. You are walking around with a bullseye on your forehead.

  26. Posted by Tim Sykes | October 4, 2007 at 11:13 PM

    I LIKE MAKING THE BIG BUCKS TOO, BUT I WANT TO HELP PEOPLE! NOW THAT I’M NO LONGER UNDER SEC JURISDICTION, LET ME JUST SAY: BUY MY SNAKE OIL, LITTLE LEMMINGS!

  27. Posted by TimOK/butSellsSnakeOil | October 5, 2007 at 9:52 AM

    We like Tim Sykes OK, however…
    ..problem is NOBODY trusts him to manage money anymore because he is a “fuck-up”! And he does not trust himself to manage a hedge fund….
    …even his family will not let him manage their money, so why should he be SPAMMING us with his shitty book/dvd……
    Next, he will be selling cheesy dvd’s on trading penny stocks on infomercials….
    Big fall for Sykes: from a failed american hedge fund manager..to snake oil salesman…..

  28. Posted by Anonymous | October 7, 2007 at 1:56 PM

    Timmay if you had any real belief in your trading strategies then:
    A) Your hedge fund would still be open
    B) You would be trading your strategies
    C) In the case where you honestly did not trust your own discipline, you would hire a REAL trader to properly execute the strategies.
    It’s simple, put your money where your mouth is.

  29. Posted by Fred R. | October 27, 2007 at 1:52 PM

    Sykes book is NOT a classic, but rather a way for Sykes to make excuses and money from his failures.
    Sykes horrible book is not worth $20.

  30. Posted by Anonymous | November 23, 2007 at 9:14 PM

    I read TIM Sykes mediocre hedge fund book since I knew him at Tulane, and like him as a person. However, the book is an empty and uninspiring story about how Sykes became a self-absorbed irresponsible stock trader. This book is NOT a “classic” and story is NOT “Rocky-like”(as author Sykes claims). This book is basically like a blog of an average person who got lucky trading stocks and then his luck ran out (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.
    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 game 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 -37% since Jan 2006. His continuous bad performance throughout 2007 shows that he does not learn from his mistakes; and readers can only cringe while watching Sykes slow motion demise into a worthless snake oil salesman.

  31. Posted by Ben S. | December 1, 2007 at 5:40 PM

    Re: Sykes hedge fund book:
    Is it more sad or amusing when someone’s young ego spurs them to write a book when they possess neither literary skill nor talent? Sykes has commented elsewhere that his goal to become “a great teacher, not a great investor” but in this sad excuse for a tutorial he proves to be neither as his amateurish errors practically drive him from the market, credibility (what little he had) completely shredded. Perhaps, however, it’s not truly his fault: let’s face it, when it comes to imparting wisdom from Wall Street it is simply not possible that a raw twenty-something simply has much to say.
    Not that Sykes doesn’t try however. In perusing the “comments” portion of these reviews, he’s certainly not reluctant to chime in and offer a defense at nearly every turn. Find me ONE other author here at Amazon that feels so compelled to argue his own incompetence. Tim Sykes should end his determined quest to become a media personality as his grating manner and decidedly non-telegenic looks suit him far better to shine shoes.