— To stream the interview click here.
— To download the mp3 right click here and choose “save as”
Those of you who are interested in the stock market and enjoyed listening to the recent episode with Frank Cruzio (episode 78) are in for another treat. Today’s guest is a trader who made millions by age 22 by investing his $12,415 in Bar Mitzvah gift money in penny stocks. He also started a hedge fund during his senior year in college that went on to become the #1 ranked short bias fund by Barclays for 3 years. His name is Tim Sykes.
After his hedge fund went bust in 2007 (that’s right, don’t try to do this at home, folks!), Tim appeared on major TV networks and shows, including a popular reality TV show “Wall Street Warriors” which aired in 20+ countries and inspired hundreds of daily emails from fans wanting to know more about him and his trading strategy… He ended up writing about it openly in his self-published best-selling autobiography “An American Hedge Fund” and later started a publishing and financial education company. He now has 3,000+ students in over 70 countries that he teaches how to trade and grow thousands into millions. He also runs a social network for traders called Profit.ly, which has about 50,000 members, some of whom pay Tim to receive daily e-mail tips, weekly newsletters, and access to thousands of videos such as the trading webinar he’s just begun.
Tim has also recently started a program with former NFL star Plaxico Burress to help educate athletes on how to be financially smart with their money, especially once their professional sports career has run its course.
Some takeaways from our interview:
— How he made millions by age 22…and what did he do with that money?
— If you’re just starting out and new to the active investing world, what should you do first?
My favorite quote from this interview: “Follow the trends and cut losses quickly.” – click to tweet