By Brian Maher
This post The New Most Interesting Man in the World? appeared first on Daily Reckoning.
Dear Reader,
It is a red-letter day here at The Daily Reckoning… a day of celebration.
For we have hooked a hefty fish.
Mr. Timothy Sykes — trader extraordinaire — has joined our swelling ranks of misfits, dreamers, visionaries and money men.
“I know 1,000s of day traders,” begins our own James Altucher, himself a former hedge fund manager and venture capitalist.
“I know one successful day trader,” he adds…
“And that’s Tim.”
Tim has made millions trading stocks.
He has also visited over 80 countries, “meeting and chatting with many of the world’s most interesting and successful people.”
En route, Tim has earned a reputation as a bon vivant, a man about town and yes… a rascal.
His Instagram page is a photographic journal of his life of Riley.
“Trust me,” says Tim, “you’d hate me much more if you saw my entire life.”
Here we offer a glimpse — at some risk to our wholesome Presbyterian standard:
Tim’s “big mouth and brutal honesty” have made him millions.
But as he concedes, they’ve also gotten him “into a little trouble.”
More on that “trouble” anon…
Tim had the trader’s itch from a tender age… and it was soon obvious that the magic was in him.
In college, Tim took $12,415 of bar mitzvah money he acquired a few years prior… and transformed it into a $2 million jackpot.
(That initial $12,415 has since swelled to $4.7 million.)
He started a hedge fund before he even graduated.
Barclay would rank his hedge fund No. 1 in its category for three years.
Tim went on to crack Trader Monthly’s “Top 30 Under 30” in 2006.
Young Timothy Sykes had life by the throat.
And he was out for everything in sight — the Earth, the sun, the stars.
But like prideful Icarus of ancient Greek mythology, Tim flew too close to the sun… and it scorched his wings:
My trading strategy was never very scalable (meaning it’s much easier for me to make $100,000 than it is $100 million) and my fund lost 35% when I tried long-term investing instead of trading.
Embarrassed, depressed, but “infinitely wiser,” Tim bandaged his pride, patched his wings… and had another go of it…
Tim was soon at his old tricks again — trading — and making money.
He was featured in the hit documentary Wall Street Warriors.
Tim received hundreds of daily emails from viewers, all seeking light on the inner mysteries of his trading strategies.
He wanted to help.
Yet Tim was a hedge fund manager. And the rules prohibited him from answering them.
So with his tortured conscience shrieking in protest, Tim Sykes donned the rebel’s hat… grabbed a rifle… and took to the warpath…
“Screw you!” said Tim to what he calls the restricted hedge fund industry.
He told all in his best-selling autobiography, An American Hedge Fund.
He started a publishing company to create “brutally honest” financial newsletters.
And that “trouble” Tim’s big mouth attracted?:
Battling against those in finance who misinform and lie, I’ve made enemies with soulless penny stock promoters, certain CNBC commentators, penny …read more
Source:: Daily Reckoning feed
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