As I got his first rough-draft book for reviewing in the mail, I almost threw it in the trash like I do most of the promotional books I get. They’re usually something along the lines of “Make Millions Without Lifting A Finger” or some equally outrageous (yet unrealistic) title.
Tim’s book “An American Hedge Fund: How I Made $2 Million As A Stock Operator & Created A Hedge Fund” caught my eye because of the title and the fact that he is only two years older than I am (he is 26 now).
I started to simply skim through the book, but to my surprise it was actually quite an interesting read! His book described how he would work out of his dorm room in college (which sounded very familiar to me) and trade stocks. I did this too once, although not near to the level he got. Sometimes he would gain as much as $130,000 in ONE DAY!! Needless to say I was very enthralled by the story:
From $12,000 in Bar Mitzvah money, Tim turned that into about $1.65 MILLION in less than 3 years! I was a little skeptical about him claiming to be a big shot money guru, because he traded during volatile times in the stock market. Impressive none-the-less, but I feel a truly seasoned money professional can make money throughout every type of stock market (like TheKirkReport.com), but Tim wasn’t even old enough to have experienced more than 1 or 2 types of markets.
Surprisingly he didn’t tout himself as a big-shot money guy, but it shows the reader about his absolutely risky trading habits which luckily paid off for him. Of course turning such little money into so much money still takes lots of skill.
While I was in New York I got a chance to meet up with Tim, and he’s quite the cool character! We met up at the really slick W Hotel bar called WetBar (sorry, I forgot to get a picture) and started talking about all his ventures. Really cool guy. He now has his own web series with his own camera crew and everything on MSN Video and TheStreet.com, plus has been on CNBC many times, interviewed cool people like Richard Branson and has done some very interesting skits to teach people about stocks.
I told him he was going to be the Bill Nye the Science Guy of stocks one day because he makes his lessons informative yet interesting at the same time.
One of the other things that fascinated me about this kid was instead of him publishing his book through a big publishing house, he decided to start his own publishing company to release his book. This caught my attention, because I love it when people embark upon an industry they know little to nothing about and succeed in it. So instead of going with a big publishing house and getting very small returns per-book, he can go through himself (and Amazon.com) and make a large sum per book. I love it!
If you haven’t heard about Tim Sykes by now, I have a feeling you’ll be hearing a lot more about him soon. I do know one thing though, his personality is a love-him or hate-him type. We were supposed to attend the Trader Monthly 30 Under 30 party while I was in New York, and Tim actually got DIS-INVITED!!! HA!!
Apparently the previous year he showed up in a bath robe to the party (which I think is completely hilarious and a nice break from the stuffy suits that always show up).
Check him out.