Timmay Gets Bitch Slapped

Quote from atticus:

... I am no fan of Tim, but the fact remains that he turned 12k into 1.65mm with little to no leverage. Redduke, you trade prop, right? Have you produced like-returns? ....
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No question turning 12k into 1.65mm is a huge accomplishment.

I was not trading during the glory days of .com so have no clue how I would perform. I personally know several guys who went from about 50k to over 1 mil, and then back to 0 during .com years.

I trade my own money. I only trade liquid and volotile futures intraday. I am turning small chunk of cash into grab stake for full time trading. It is a slow process, but I very rarely have a losing week and never a loosing month.
 
Quote from damnit:

Timmay's luck ran out and he is stuck in a pink sheet that will soon be worthless and his name will be despised because he is a pos.
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Actually the company is already basically worthless---it's at 5 cents and I already am despised. I'm doing the only thing I can do, explaining how I got into this mess to help others avoid it. But as bad as it is, I'm still in the game and much wiser / conservative which will serve me well for the rest of my life.
 
As unbeliably annoying and tiresome as Tim Sykes has been, this thread has made up for all of it. So funny! Now all I have to do is wait 6-8 more weeks and he won't be on ET any more.
 
Quote from trendy:

Just as an actor is only as good as his last movie, a trader is only as good as his last return. Tim is living out of his scrapbook. He is the Chris Moneymaker of trading.
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haha good comparison
 
Quote from TimothySykes:
Ignored the important rule of never falling in love with a company
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I understand your fund is/was using a short bias strategy. Wouldn't going long one ticker with 25% of the entire capital somehow diminish your ability to offer investors returns primarily made on the short side? I am not exactly sure what short bias means technically, possibly the threshold of average short exposure is less than 75%.

Just curious.
 
Ha.


ego casualties
Hedge Funder Tim Sykes Bombs Out On Wall Street
Tim Sykes, formerly one of Trader Monthly's hot "30 under 30" who was the the butler-having star of 'Wall Street Warriors', has fallen on very hard times. He says that, due to investment in illiquid stocks, he is "unable to raise any money, unable to take any trading risk so all I can do is take advantage of my publicity efforts and turn that into my new career." He's now "a reporter for TheStreet.com" and MSN Money's "goto video guy." This all comes from his email correspondence with Trader Monthly; they banned him from their big party this week. In return, he offered them five great reasons why he should be reinvited! You see, he's now a financial expert in the media—even though his hedge fund bit it!

1. Rachel and I talked / emailed last week about me coming and she was fine with it, so I made plans to meet up with nearly a dozen friends. Some of these people I haven't seen in a very long time and we've been talking all weekend about what we'll do after the party.For me to bail on them at the last second would be extremely rude.
2. I will have no cameras and will not be covering the party for my new jobs as reporter for TheStreet.com (I'll be starting as a writer in a few weeks) and MSN Money (I am their goto video guy). I'll be low-key, really.

3. I invited 2 female friends who went out and bought new dresses for this event. I don't know how to explain it to them that I can't attend with them.

4. While you guys seem to think 'I've made a mockery of the list' with my eccentric behavior, other media outlets now recognize me as a finance expert / personality. Sure I have an ego, but my position is backed by CNBC (7 appearances since the beginning of the year), CNN (I debated greed with the most powerful religious leaders last month), FOX (I was on Cavuto on July 4th), Oprah and Friends Radio (they loved my book and are having me on in a few weeks), Young Money (I will be their cover story for their October issue, Penthouse (I will have a feature story in their Christmas issue), and Wiley (they offered me a $35k advance for my book).

5. You guys are took a pretty good shot at me in this latest issue so even if you really believe I somehow embarrassed you last year, I consider us even.

Aww, he's kind of sweet. In a really douchey way. The entire correspondence is worth a read.

TRADING'S BUFFOON - THE TIM SYKES EMAILS [Trader Daily]
 
You see, I used to think like you—I wanted to make the most money the fastest. I derided anybody who wasn’t earning as much as me, writing them off as lazy or incompetent. Since I wanted to get ahead, I learned to be selfish because in this game, nobody was going to do me any favors. While others were busy studying, I was earning hundreds of thousands of dollars per year and my ego was comparable to yours (maybe). As you know

Judging by the emails, he changed from being one of them to maturing far beyond the TM crowd in about 2 days.
 
Quote from makloda:

I understand your fund is/was using a short bias strategy. Wouldn't going long one ticker with 25% of the entire capital somehow diminish your ability to offer investors returns primarily made on the short side? I am not exactly sure what short bias means technically, possibly the threshold of average short exposure is less than 75%.

Just curious.
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Short bias simply means that your investments are biased to the short side, which overall my fund was and still is. The irony is that my losses were caused by the one long in my portfolio.
 
Quote from TimothySykes:

Short bias simply means that your investments are biased to the short side, which overall my fund was and still is. The irony is that my losses were caused by the one long in my portfolio.
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The irony is that you have a book deal.
 
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