Timothy Sykes, the boy wonder investor, who turned $12,415 in bar mitzvah money into $1.65 million by trading stocks, started and folded his own hedge fund. Then he wrote a book about his experiences. Now he is embarking on a new venture.
Timothy Sykes, the boy wonder investor, who turned $12,415 in bar mitzvah money into $1.65 million by trading stocks, started and folded his own hedge fund. Then he wrote a book about his experiences. Now he is embarking on a new venture.
At the beginning of this month, he began using his financial website, timothysykes.com, to provide information on his securities-trading strategies.
Mr. Sykes, 26, said he will again turn $12,415 into $1.65 million, and he promises to detail all his investments and his investment processes on his blog "to become the first hedge fund manager to disclose everything openly."
The author of "An American Hedge Fund" (BullShip Press, 2007), Mr. Sykes said that he won't take on any investors for his new project, which he dubs "TIM" for transparent investment management.
Regulations that prohibit hedge funds from advertising or talking publicly about their operations to anyone with less than $1 million are "against everything America stands for," he said in the description of his book on his website.
"Wealthy and non-wealthy investors alike should be allowed to learn about hedge funds and the strategies they employ for safer and more profitable investing," according to the website.
Mr. Sykes doesn't give out stock picks ahead of time on his website, but the site does show what trades he makes.
"The key is that I'll hold nothing back," he said in a press release about TIM.
Mr. Sykes said he would use "a regular discount online brokerage account to prove that anybody can do it. Perhaps mostly importantly, I'm gonna make this game fun and entertaining."
