A review of Timmay's hedge fund book
- Thread starter timvodas
- Start date
Good questions! It's to answer worthy questions like these that I've written this book.
Who invests in a short biased fund so that the PM can get long 1 stock and smoke half assets?
Quote from marketsurfer:
do you know what the term "bias" means?
surf
I'm going to avoid jumping too much into the Timmay frey till after I read the book, but if the lesson is how to not lose, or even how to lose, it could be of value. One of the best books I ever read was "What I learned losing a million dollars". I can't recall who the guy was who wrote it, and its out of print, but he was a director of the CME who blew his account out by being pigheaded and thinking he was bigger than the market. It was an insightful, educational and entertaining read. Who knows, maybe what Tim offers will be something along the same lines.
Brandon
PS, To Tim sponsorship on ET was one of the best moves I ever made. I don't know how it'll turn out for you, but it was very profitable for us. I'll post a review after I read the book.
Awesome man thanx for great post and the insight about ET sponsorship--just gotta wait and see
yeah, makes sense. read the book for more insight into what happened.
surf
I have no dog in this fight (my apologies to Vick), and I am not the moderator of this forum so I am not here to defend a sponsor. I don't know Timothy in any way other than I saw the Wall Street show.
What I think is happening is that some people are a bit jealous that someone has become somewhat well-known in a field that they aren't very good at. It would be like a bunch of architects that have been plying their trade for years suddenly being told to read a book by a guy that designed a few buildings and a couple of them fell down. I don't mean that as a swipe at Timothy, but its the truth and he seems to be admitting that in his reason for writing the book. I applaud him for that especially if the book is about how the buildings fell down rather than how to build them.
What I will say in his defense is that at least he is publishing his track record, something that virtually no trading book author will do. The mistake being made here by the critics is the assumption that getting a book published in the trading section at Barnes and Noble is somehow vindication of a good trader. This couldn't be further from the truth as most trading books are written by people that couldn't hack it in the market. Just ask any of them for their trading records and see what kind of feedback you get. As we all know, for those people there is more money in selling the shovels than in the actual digging for gold.
Personally, I don't read trading books for techniques anymore...something I did as a newbie and have had a disdain for vendors ever since, because almost none of it helped me become a better trader. I do however, enjoy books by real traders, good or bad, that tell about their experiences. Pit Bull comes to mind as well as the classics like Reminiscences and the Market Wizards books. They are very entertaining and if Timothy's book is in this mold then I will probably buy it because I like to collect those kind of books. If its a book to teach trading strategies then I wouldn't buy it because there is no track record to back it up.
No need to get personal with all of this. Some of you act like he stole your sister's virginity or something. If its a poor book, then sales will reflect it, same if its a good book. If he has chosen to become a vendor then at least we know his history up front.
Timothy, I don't mean to tell you how to run your business, but I have been around here long enough to say that if you try to respond to every single nit-picker on ET you're going to go crazy. It is impossible to get everyone to agree with you and some of them do it just for the fun of it. It will be an excercise in futility.
Good Trading everyone.
What I think is happening is that some people are a bit jealous that someone has become somewhat well-known in a field that they aren't very good at. It would be like a bunch of architects that have been plying their trade for years suddenly being told to read a book by a guy that designed a few buildings and a couple of them fell down. I don't mean that as a swipe at Timothy, but its the truth and he seems to be admitting that in his reason for writing the book. I applaud him for that especially if the book is about how the buildings fell down rather than how to build them.
What I will say in his defense is that at least he is publishing his track record, something that virtually no trading book author will do. The mistake being made here by the critics is the assumption that getting a book published in the trading section at Barnes and Noble is somehow vindication of a good trader. This couldn't be further from the truth as most trading books are written by people that couldn't hack it in the market. Just ask any of them for their trading records and see what kind of feedback you get. As we all know, for those people there is more money in selling the shovels than in the actual digging for gold.
Personally, I don't read trading books for techniques anymore...something I did as a newbie and have had a disdain for vendors ever since, because almost none of it helped me become a better trader. I do however, enjoy books by real traders, good or bad, that tell about their experiences. Pit Bull comes to mind as well as the classics like Reminiscences and the Market Wizards books. They are very entertaining and if Timothy's book is in this mold then I will probably buy it because I like to collect those kind of books. If its a book to teach trading strategies then I wouldn't buy it because there is no track record to back it up.
No need to get personal with all of this. Some of you act like he stole your sister's virginity or something. If its a poor book, then sales will reflect it, same if its a good book. If he has chosen to become a vendor then at least we know his history up front.
Timothy, I don't mean to tell you how to run your business, but I have been around here long enough to say that if you try to respond to every single nit-picker on ET you're going to go crazy. It is impossible to get everyone to agree with you and some of them do it just for the fun of it. It will be an excercise in futility.
Good Trading everyone.
Thanx for the great post--you fully understand the point of my book, it's no BS "How To Get Rich Quick" kinda book as many people think it will be (probably because I did get rich quick) I've read all the great trading books
see my library: http://www.timothysykes.com/id2.html
and I've decided that brutal honesty is the way to go. turning $12k into $2mil was only where my education began--it was after I got to that point that I really started learning market and hedge fund reality. I don't mind people attacking me, but I will respond to every single accusation because they are all based on circumstantial evidence and people seem to be drawing the wrong conclusions. Probly shoulda waited to become a sponsor when my book was out, but I just couldn't take all the crap being talked about without responding to it.
lol
you really had no choice but to publish your track record...seeing as how it's been posted on the forum about a hundred times.
You're just no different than those little girls on MTV that spend their whole lives trying to convince people they are above average for some magical, unknown reason.
If you were truly above average...you wouldn't have to spend so much time trying to convince people. Your actions would speak for you.
And don't try to say you are "the people's champ" or anything like that, or some average joe blue collar crap...your mommy and daddy gave you a bunch of money to play with....you didn't come from the grassroots or anything like that, so stop with the underdog stories.