Timothy Sykes News

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You said:

"With these censorship rules in place, it doesn't matter that less than 5% of hedge funds fail--these 5% are all the public has ever heard about....until now."

Most hedge funds do not report performance so accurate statistics is not possible. So please cite the source which says 5% of hedge funds fail. I think the number overlooks an important stat. Way more than 5% may not fail but they constantly lose money or perform poorly like your fund. Most hedge fund managers follow your model, inexperienced and without specific academic or professiona financial training. Even more were created in the 90's off of a strong bullish market and many of them are gone.

True the public hears only about Amaranth or LTCM but it makes sense. A $3 billion fund blowing up is more significant for the market than a $1.5 million fund like your closing. Many funds make that in fees in a month so your is a small blip on the gnat's ass on the tail of the dog.

Also, please realistically tell me how your book chronciles the detail of all the hedge funds that lose money or fail or their secrets. You said your book is about you alone so isn't that a lie or being hypocrtical. Your book changes nothing because you are just telling your little story, not exposing the industry or doing investigaive journalism like Lowenstein or Liar's Poker.
 
ok, let's follow your logic. 500,000 college students with little or no experience or knowledge of the markets and one of them does really well.
So on et, where we have about 100,000 members, most of who seem to be (or at least claim to be) amazing market players, and not one of them crowing about turning their meager 10k into 2m? I think it was more then luck or we would have a lot more people succeeding at it.
Re him dispensing financial advice, I have no idea about that, but people can decide for themselves whether it is worth following, and you don't need to be prosecution, judge, and jury.
And if you have such an outstanding moral compass that you want to object to and correct to all the moral failings in the world, aren't there bigger outrages out there for you to rail against?

Quote from BrightPropGuy:
If you have half a million college students day trading during a bubble market, then at least one will turn $12,000 into $1 million. Now, if you admire dumb luck then that's your business. But it is highly irresponsible to present this dart throwing monkey as someone who should be dispensing financial advice to financially distressed college student.
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Quote from Mike Okistini:

You said:

"With these censorship rules in place, it doesn't matter that less than 5% of hedge funds fail--these 5% are all the public has ever heard about....until now."

Most hedge funds do not report performance so accurate statistics is not possible. So please cite the source which says 5% of hedge funds fail. I think the number overlooks an important stat. Way more than 5% may not fail but they constantly lose money or perform poorly like your fund. Most hedge fund managers follow your model, inexperienced and without specific academic or professiona financial training. Even more were created in the 90's off of a strong bullish market and many of them are gone.

True the public hears only about Amaranth or LTCM but it makes sense. A $3 billion fund blowing up is more significant for the market than a $1.5 million fund like your closing. Many funds make that in fees in a month so your is a small blip on the gnat's ass on the tail of the dog.

Also, please realistically tell me how your book chronciles the detail of all the hedge funds that lose money or fail or their secrets. You said your book is about you alone so isn't that a lie or being hypocrtical. Your book changes nothing because you are just telling your little story, not exposing the industry or doing investigaive journalism like Lowenstein or Liar's Poker.
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First of all, that quote was from an early version of my book, not the final copy. But perhaps more importantly "fail" is a relative term. In the final version I changed it to "blow up" because fund blow ups ARE what people hear about. Did my fund blow up? No--I lost 1/3 of assets over 2 years, but overall the fund still looks like it'll have positive annual returns, even if they are far below what I would have liked.

Did my fund fail? No, I closed the fund in order to detail everything--not because investors wanted their $ back right away.

Did I fail at growing my fund? Yes, as I detail in my book, I was horrible at fundraising.

Never claimed to detail other fund's losses, how the hell would I know about that? I'm not an investigative reporter. My story simply aims to get others funds to open up--I can't force them to. All I can do is share/detail all my experiences/trades, which nobody else seems to be willing to do
 
Quote from BrightPropGuy:
Another Sykes Lie: "..I had to shut down my fund in order to detail everything"
You shut down the Fund because you failed your investors, and could not get new investors. You did not shut it down "in order to detail everything.." Nobody cares what your excuses are...

CYGT Excuse/Lie: Everybody knows if your other trades were any good then you could off-set that loss. Your family also knows that Tim, and thats why they do not trust you with their money!
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It must be really strange to have your family not to trust you with their money, especially when you sell book/dvd on trading.

It's like the people who know you best, your own family, do not believe you are competent.
 
Quote from quantsteve:

It must be really strange to have your family not to trust you with their money, especially when you sell book/dvd on trading.

It's like the people who know you best, your own family, do not believe you are competent.
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I don't blame them--they, like me, are down a lot due to CYGT. I can see how you guys constantly mistake my trading ability for my losses in CYGT, but soon, instead of talking about it, I'll just prove it to you, get ready
 
Quote from MrDODGE:

What penny stocks are you shorting this week?
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I think what he means is, "he only has pennies left, to buy stocks." Penny stocks is just his contraction...
 
Quote from TimothySykes:

I don't blame them--they, like me, are down a lot due to CYGT. I can see how you guys constantly mistake my trading ability for my losses in CYGT, but soon, instead of talking about it, I'll just prove it to you, get ready
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Tim, when you run a fund or manage money for a client, ALL trades count for skill.

If I manage $1,000,000 and lose $500,000 on one trade, can I tell my clients I am still a good trader but it was just one bad "investment"? Did Amaranth tell is investors, hey it was just one bad bet on Natural Gas or did they close the fund and fire the manager?

Trading/Investing involves EVERY single decision you make. If one bad trade cost you a significant chunk of your portfolio such that the last 5 years show a 1% annualized return, then it is reflective of trading skill. We all know of the 90 bull market millionaires who got blown out in 2001 and lost almost everything. Are they really good traders? Or were they lucky?

The reason you lose a lot of respect from KNOWLEDGABLE traders is the smoke and mirrors act of forget my recent bad trade which tanked my portfolio, look at what I did several years ago. Traders are judged about the now, this year, this quarter.

It is not about posting a few penny stock picks (which you are seriously flawed there since a $12 or $30 short is not shorting penny stocks at all, use Google and Penny Stocks to see) or appearing on TV. Is Maria Bartiromo a trader? Is Cramer a trader anymore? not at all....
 
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