Tim Sykes million dollar challenge
As some of you aware Tim Sykes is a rogue trader who traded his way from approximately 13k to 1mm. And he has this challenge to teach someone to do the same. Thing is there's a "tuition" of $5,500. Would you do it?
Thoughts
Nope, I'd rather spend the money on bottles of Cristal and the company of Haydée + Lavitka. The risk profile on anything like that isn't worth pursuing. There is plenty of money to be made from short term trading but I'm very skeptical of anyone marketing their "education" to retail traders.
No. The only person who "gets rich quick" is the person selling you the BS.
True, but his million grew over time. I think his bar mitzvah money hit the milli mark late h.s. / early college.
This guy is your investing idol?
How he went from K to MM is manipulation. He has a "subscription" service where he and his associates buy a thin-float and/or micro-cap stock, give an extravagant, over-exaggerated reason why it'll go to the moon OR use mysterious technical analysis (known to us simple folk as pumping the hell out of it), and sell in the subsequent hoopla. If you have the intestinal fortitude to ride the wave and get out before it crashes, more power to you. Eventually... too many people will join and and it won't work anymore.
I don't have anything against what he does. Smart guy. He's a smaller-scale Jordan Belfort to an extent. If you want to follow what he does, better off just buying one of the multiple subscription services (InvestorsLive, SuperMan, BioRunUp to a certain extent) or just following Twitter chats like bman_alerts.
Don't fall for this "tutoring".
"Idol" is bit of a stretch.
And you've got a point, but would is self serve simple folk be able to short at the pump? Granted it'd have to be identifiable, but if a company is crap the the hype would be apparent no?
Short an illiquid micro-cap stock? Not a good idea, even if you could find the shares to short.
You'd be an idiot to short the pump. Squeeze like a teenage pimple
I would do it bc Sykes could teach me stox and help me get the GS TMT >> PE MF
By far the best thing I've seen written on these boards in a while.
With banana to substantiate that comment, I'll read it as sarcasm. Good
Looks like I'll be double that 5500 - fold and put it back in my pocket.
Even if he guaranteed you the $1MM, it probably would still not be worth it. I wouldn't want to be a creditor to Tim Sykes.
It wouldn't be worth it BC of the name attaché to the profit, or what the named person would have you do for that pretty milli
You know what 5,500 can buy? 2 Hours with a porn star, an eightball of blow, a quality bottle of champagne and a room at a swanky hotel with room left over. 5,500 is a nice mini-vacation or a hell of a weekend in Vegas. For 5,500 I can book a hell of a private affair at a top restaurant for me and my friends and enjoy it. Or... I could just blow it all in a Strip Club. I'd rather spend 5,500 on things like that than Tim Sykes. It's just me though.
I generally don't trust people who trade in the penny stock realm because it's very touchy. You could end up getting burned badly on it. Be careful is all.
Underrated post.
Just no. Please.
@frieds idea sounds like a far more useful and fun way to blow $5500.
And what's a rogue trader? To me that means someone who's going to prison soon because they busted the firm through non authorized or illegal trades and at best is getting fired.
Thanks man.
@"Sifaka", I swear by what I said. While hookers and blow isn't everyone's thing, I just think it's a better use of money than spending money on Tim Sykes. Truth is, I'd rather spend 5500 on having Gordon Ramsey cook for me and friends and then join us drinking Whiskey and bullshiting for the rest of the night.
Solid good times right there
He's a rogue trader the way Sarah Palin is a rogue... something. Trader Daily telling him to get lost when he got obliterated in 2007 was beautiful.
Link?
https://web.archive.org/web/20071016130237/http://www.traderdaily.com/n… http://gawker.com/302379/hedge-funder-tim-sykes-bombs-out-on-wall-street http://www.mademan.com/tim-sykes-vs-trader-daily/
"FRIDAY LEVITY: TRADING’S BUFFOON – THE TIM SYKES EMAILS Sure, Tuesday’s Trader Monthly “30 Under 30” party in New York was a hot invite, with over 800 attendees, but one shudders at the length Timothy Sykes, up-and-comer turned trading laughingstock, went to try to get in. Sykes, who was on last year’s “30 Under 30” list, and then tried painfully to brand himself as a financial expert and bon vivant, while his small hedge fund began losing money with uncanny monthly regularity. Behold, unedited and in full, the Timothy Sykes grovel chain:"
How many people is he tutoring?
.
this guy's a clown. Go search for him on youtube and listen to him speak for 2 minutes before you fall for this scam.
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