How are services like Tim Sykes legal?

[lawrence-lugar]

How are services like Tim Sykes and other services like his legal?

They are sending alerts of when to buy and sell stocks
Is it a grey area?

Why do you ask this,

Did you, or someone you know, recently lost money with this kind of weird grey area service,

I'm not defending Tim Sykes (or people like him)...but I see nothing wrong with what he does.
Sheep will get taken advantage of one way or another -- it's been like that since the beginning of time,

The same ratio of basically 99% losers, 1% winners...have also existed since the beginning of time,

The stock market, sports betting, politics, youtube stars, advices and tips, etc etc...people are just chatting away with whatever is in their heads,

However a random person decides to do with what they hear or see...that's on them,

 

[veecashflow]

I dont think what he does is wrong he is just providing a service hes not making anyone sign up and throw money at him. I was just wondering from a legal point of view if its illegal

 

[Pekelo]

In this regard Sykes isn't different from C2 and its vendors. Or from Cramer, he has a newsletter too, besides Mad Money. Disclaimers and free speech.

 

[ajacobson]

Disclaimers and the 1st amendment don't allow fraud.

 

[Pekelo]

The difference between fraud and incompetence is called Enron.

 

[DeltaRisk]

How are services like Tim Sykes and other services like his legal? They are sending alerts of when to buy and sell stocks. Is it a grey area?

Because you're all so stupid to believe it.
Anyone can sell hopes and dreams, it isn't illegal.

 

[JSOP]

How are services like Tim Sykes and other services like his legal? They are sending alerts of when to buy and sell stocks. Is it a grey area?

Anybody is allowed to sell anything you want as long as it is not against the law. If you don't believe in what he's selling, don't listen to him and buy it. But people have become millionaires under his teaching and guidance though. I hope this is the Tim Sykes that you are referring to:

https://en.wikipedia.org/wiki/Timothy_Sykes

There are LOT worse investment advisors/gurus/trainers/coaches out there.

 

[DeltaRisk]

Because you're all so stupid to believe it.
Anyone can sell hopes and dreams, it isn't illegal.

I mean this as a generalization, clearly.

 

[BrandNewTrader]

I went to school (university) with Tim Sykes. We overlapped a few years, but we never spoke. He deals mainly in penny stocks and has found an ingenious balance between profiting from subscriptions and profiting from pumped penny stocks in which he has made legal/obscure proxy investments.

I am not knocking Tim. I do believe he was already rich before he started this business, for whatever that is worth.

As a trader, I KNOW that pumpers and writers, regardless of accuracy and timing, are guys who just can't manage risk. Period.

 

[SoesWasBetter]

I went to school (university) with Tim Sykes. We overlapped a few years, but we never spoke. He deals mainly in penny stocks and has found an ingenious balance between profiting from subscriptions and profiting from pumped penny stocks in which he has made legal/obscure proxy investments.

I am not knocking Tim. I do believe he was already rich before he started this business, for whatever that is worth.

As a trader, I KNOW that pumpers and writers, regardless of accuracy and timing, are guys who just can't manage risk. Period.

Really? Rich from what? Did he used to mug little old ladies ?

Sykes is a scammer. Pure and simple.