Tim Sykes forwarded this our way with the note, “finally, an article in which I sound intelligent.” You be the judge.

Posted by Bess Levin, Oct 02, 2007, 1:42pm

timothy.jpgOn business being fun:

"Business is fun. Business is awesome," said Sykes, who brought female models onto CNBC in April to hold up stock charts during a contest show.

On giving credit where credit’s due:

"I would like to thank the thousands of inept corporate management teams, shady brokers, boiler rooms, pump and dumpers, stock promoters, market manipulators, wannabe traders, newsletter writers and Internet message board posters — for your endless scheming and undying greed, without which my fortune would never have been possible."

On his life’s work:

” "I want to provide education and clarity about business and trading, especially to young people," said Sykes, who cited a recent study that showed 700,000 college students are involved in day trading.

"There are so many people doing this, and they need inspiration."

On what’s wrong with the SEC and why he didn’t make any money:

Sykes also plans to become an advocate for regulatory change. The SEC doesn’t allow hedge funds to advertise and doesn’t allow anyone with a net worth below $1 million to invest in hedge funds, ostensibly to protect investors from the higher-risk levels carried by hedge funds.

Sykes said those rules prevented him from raising enough money to grow his fund to a significant size.

Sykes said the main problem is that the SEC is underfunded and therefore is forced to regulate the industry in a pre-emptive manner, rather than punishing wrongdoers when they are caught.

"The way to police the markets is not to force everyone to be secretive, it’s to fund the SEC to the extent they can fine people for misleading press releases and other abuses," Sykes said.

"If you’re willing to take the risks, you should be allowed to make the investment. We need to take the fear out of the industry."

On why he's self-publishing "An American Hedge Fund":

He...realiz[ed] he could make far more profit per book on his own.

Hedge fund investor turns hand to publishing [New Haven Register]

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Posted in: Tim Sykes

Comments

Posted by AJ, Oct 02, 2007 1:54PM

"... without which my fortune would never have been possible" - $1 million is not a fortune

"...and they need inspiration" - speechless

"Sykes said those rules prevented him from raising enough money to grow his fund to a significant size." - somehow his losses and staggering incompetence escape blame

Posted by , Oct 02, 2007 2:20PM

"New Haven Register" that well known financial tome, isn't this one of those crappy freesheets handed out at stations, where the front page headline is something like "Mrs Jones Cat stuck in tree again!!"

Posted by I hate Sykes, Oct 02, 2007 2:27PM

I think DealBreaker knows that nearly everybody on here hate reading/hearing/thinking related to Tim Sykes. Yet they insit on torturing us with these retarded posts.

Posted by , Oct 02, 2007 2:30PM

and you keep commenting on them.

Posted by , Oct 02, 2007 2:33PM

and you keep commenting on them.

Posted by inIT4the$, Oct 02, 2007 2:54PM

Sometimes twice! anon 2:33


AHHHHH, this guy is an idiot! If my manager (or me for that matter) were constantly in the press saying sh*t like this, I'd fire his/ her ass in minute (or I'd be fired).


Dumbf*ck!

Posted by Michael Bolton, Oct 02, 2007 3:00PM

Before Dealbreaker, I did not know anything about Sykes. I still don't know much. But after glancing at that article, I have also reached the conclusion that this guy really is an a$$ clown

Posted by Drano, Oct 02, 2007 3:14PM

Maybe he can team up with the Beardstown ladies now.

Posted by Joel, Oct 02, 2007 3:19PM

Tim,

I too have self-published my book and am an aspiring hedge fund manager. Perhaps we should meet.

Sincerely,

Aleksey V.

PS: I never lose money

Posted by Timmy Lover, Oct 02, 2007 3:20PM

guys, read the article, it says timmayyy's book rocks!

Posted by MartinBaker, Oct 02, 2007 4:32PM

"I can't trade, my fund lost 36% since Jan 2006, buy my book and my CD so you can learn to do the same...."
Sure, why not?

Posted by NotNasser, Oct 02, 2007 8:28PM

If the writing/publisher thing doesn't work out, he can try being the vocalist for the "Lords of the Underworld."

Phil Collins might have a problem with it, but no plan is perfect.

Posted by , Oct 02, 2007 9:01PM

Next, he will be selling cheesy DVD's on trading penny stocks on infomercials....

Timmay Sykes: a failed american hedge fund manager..

Posted by The_Overdog, Oct 02, 2007 11:27PM

"... without which my fortune would never have been possible" - $1 million is not a fortune

Yes it is. There are only around 2 million people in the US (of 300mm) with more than a million in cash.

There are only 9 million with a net worth of more than a million, including primary residence.

Posted by TimsBookSUCKS!!, Oct 03, 2007 7:45AM

Timmay says, "“finally, an article in which I sound intelligent.”

Nice try, but we all know you are an idiot failed hedge fund manager...

.....Timmay=BullShitPress.....

Posted by , Oct 03, 2007 7:50AM

"Sykes said those rules prevented him from raising enough money to grow his fund to a significant size."

hhmmmm - somehow his losses and staggering incompetence escape blame

Next, Sykes will be different type of BS artist: dvd/snake oil salesman.....

Posted by DUH!, Oct 03, 2007 12:17PM

His excuses make no sense.

If he had such a hard time gathering assets, then why not run many separately managed accounts until he got his assets to a reasonable size to form a fund(assuming he can find enough non QIP morons to invest in him??). He'd be the investment manager of the managed accounts, which are in the client's name, but he has trading authority and gets to lay claim to the track record That's what I did!

Geez Timmay, work it out.

Posted by , Oct 03, 2007 3:39PM

He is writing for realmoney.com now. Will wonders never cease.

Posted by , Oct 03, 2007 3:52PM

I guess if Cramer is willing to have his reputation sullied by associating himself with that fat, useless nephew of his, then he is hardly going to hesitate in adding Tim Sykes to his crack team of hacks and wannabes.

Posted by SykesDVD=TotalGarbage, Oct 04, 2007 9:28PM

Sykes is a dvd/snake oil salesman...

and..

..failed hedge fund manager!

Posted by Sykes, Oct 04, 2007 10:07PM

boooohoooo, that's old news now, what else u got?

Posted by FailedFundMangerSykes, Oct 04, 2007 10:28PM

Cilantro Fund mercifully youthanized by its 26 year old publicity ho manager, Timmy Sykes

As expected, super self-promotional idiot trader Timmy Sykes has announced that he's shutting down his itty bitty, funded with Bar Mitzvah shekels hedge fund. He took the opportunity of announcing that he was pulling the plug on the fund's life support to simultaneously announce the launch of his new self-published book. Or is that a re-launch? He's been relentlessly touting it since last July, so relaunch seems more appropriate. In any case, he provides an Amazon.com link not one, not two, but three times in his page long tribute to himself. (Thanks to the reader who sent this to us early today!) Here's the first paragraph -- we can't stomach giving this pretender any more publicity than that:

Cilantro Fund Closing, Read All About It In New Book

Gag. Fucking loser.

From failed hedge fund manager to dvd/snake oil salesman....

Posted by SykesSUCKS=Toast, Oct 04, 2007 10:30PM

Sykes is 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 bolggers 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.

Posted by , Oct 07, 2007 1:00PM

Quotes from TimothySykes:

Many good points made, but let me try to refute them:

1. SYKES SAID: " If you'd read the book, you'd see my trading success continued long past the bubble and my short selling strategy has continued to work very well in a now 5-year old bull market."
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OUR REPLY: Your 5 year return shows otherwise. You made ur bulk between 1999-2002, times that we will NEVER see again. You should be commended on keeping most of the money and being ambitious enough to trade while in college. I wish I did the same, but then, most of us did not get $12,000 at the age of 16, we had part time jobs to help pay for our own expenses.
Enough with your stats, they are all over ET. The fact is that you have been unable to make money for the last 5 years, and even when you returns are looked at closely, you have no apparent edge outside 1999-2002.
If your strategy worked, you would still be trading your fund.

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2. SYKES SAID: "If you learned more about my DVD, you'd see I say stay away from OTCBB and Pink Sheets--my main focus is Nasdaq smallcap, very liquid, very volatile, very executable. Recent plays include CHNR, JRJC, CPSL, ZVUE, BHIP, SCON on and on"
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OUR REPLY: First of all, I would NEVER buy your DVD or even listen to it. It's snake oil. Plain and simple, if your strategies were so good, you would not be selling it. Make all the excuses you want about your lack of discipline, the fact is that if your strategies still worked, you would invest in them, even hire a REAL trader to execute, if needed. Your fund would still be open.
Second, most penny stocks are OTCBB and Pink Sheets. So only trading Nasdaq small cap sub $5 stocks is not exactly a Penny Stock strategy. AMEX actually has better plays in that category. Once again, you show your lack of knowledge.


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3. SYKES SAID: "My critique of the hedge fund industry is from a startup's point of view. All the biggest funds have little to no idea about what's going on down here and nobody else is willing to risk their futures to tell it like it is. All I know is that industry regulations have hurt the little guy and thats infuriating."
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OUR REPLY: Oh cry me a river. Maybe the SEC should grant hedge fund status to everyone.
As I have said, you have ZERO idea about the industry. If you only realized how much work, staffing, planning & legal/accounting expenses goes into setting up a REAL hedge fund. And that's prior to even putting on the first trade. Maybe it's you who does not have an idea about the other side.

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4. SYKES SAID: "It's true, I'm all about entertainment because I do think business and finance is fun. We are losing our youth to the wrong element--it's time somebody tried to bring them back to what really matters."
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OUR REPLY: There already is a Jim Cramer. I keep trying to give you a clue, THERE IS NOTHING NEW & EXTRAORDINARY IN YOUR GAME. NOTHING!!!
Have you ever watched CNBC? So what the hell are you talking about "We are losing our youth". CNBC is all bells and whistles, with bright lights, cheerleaders, fun fun fun. It's been a steady trend for years toward making finance & business FUN.

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SYKES SAID: "Please let's continue this dialogue, it's not often that I have a chance to have a meaningful debate on here."
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OUR REPLY: Timmay, most of the debate is with yourself. Your target audience are morons who are looking for a quick buck & unwilling to learn, put in the time and accept the reality of trading. Everyone else sees through your charade. While you need to keep up appearances, it is not logical for you to do that on ET. You simply do not have the experience or the knowledge to play this Snake Oil game with guys who have seen it before. You're getting picked apart and have been picked apart, caught lying & contradicting yourself, then trying to make lame excuses. And then you conitinue to antagonize by posting all these reviews in your desperate attempt to validate your book & yourself.

Posted by , Oct 07, 2007 1:54PM

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.

Posted by Fred R., Oct 27, 2007 1:58PM

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.

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