152: Timothy Sykes: How To Turn $12,000 into $1 Million in 4 Years Trading Penny Stocks

My guest in this episode is Timothy Sykes. Tim is a millionaire
stock trader and teacher who has been featured on CNN, Fox News,
amongst others. He owns and runs the largest online trading academy
for penny stocks, and he recently launched his foundation, The
Timothy Sykes Foundation, which has donated to dozens of charities
such as Make-A-Wish and The Boys & Girls Club. Tim turned
$12,415 in Bar Mitzvah gift money into $2 million and started a
hedge fund during his senior year. He also created a scholarship
for talented/passionate people open not only to current Tulane
students, but also Tulane faculty and alumni…an economic bailout
ahead of its time. His  hedge fund went on to become the #1
ranked short bias fund by Barclay for 3 years and he was named to
Trader Monthly’s ‘Top 30 Under 30’ in 2006, but his trading
strategy was never very scalable (meaning it’s much easier for me
to make $100,000 than it is $100 million) and my fund lost 35% when
I tried long-term investing instead of trading. Infinitely wiser
but embarrassed and depressed, a TV producer asked him to make an
appearance in his upcoming documentary “Wall Street Warriors”…
Timothy had lost his confidence and credibility so he said sure and
ended up starring in 5 of the 6 episodes of the hit first season,
which you can watch on Hulu, now having aired in 20+ countries and
followed by 2 more seasons (Wall Street Warriors Season 3 was
filmed but has not aired). The show’s popularity inspired hundreds
of daily emails from fans wanting to know more about him and his
trading strategy, but as a hedge fund manager, he was not allowed
to answer any of them. So he said “screw you!” to the restricted
hedge fund industry, and wrote openly about his experiences in his
best-selling autobiography “An American Hedge Fund” and started a
publishing company to create brutally honest & educational
financial newsletters and instructional DVD packages.
Interview Links: Timothy Sykes

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Until next time! Live a life of passion and purpose on YOUR terms,
M.C. Laubscher