Why do you ask this, Did you, or someone you know, recently lost money with this kind of weird grey area service, I'm not defending Tim Sykes (or people like him)...but I see nothing wrong with what he does. Sheep will get taken advantage of one way or another -- it's been like that since the beginning of time, The same ratio of basically 99% losers, 1% winners...have also existed since the beginning of time, The stock market, sports betting, politics, youtube stars, advices and tips, etc etc...people are just chatting away with whatever is in their heads, However a random person decides to do with what they hear or see...that's on them,
I dont think what he does is wrong he is just providing a service hes not making anyone sign up and throw money at him. I was just wondering from a legal point of view if its illegal
In this regard Sykes isn't different from C2 and its vendors. Or from Cramer, he has a newsletter too, besides Mad Money. Disclaimers and free speech.
Anybody is allowed to sell anything you want as long as it is not against the law. If you don't believe in what he's selling, don't listen to him and buy it. But people have become millionaires under his teaching and guidance though. I hope this is the Tim Sykes that you are referring to: https://en.wikipedia.org/wiki/Timothy_Sykes There are LOT worse investment advisors/gurus/trainers/coaches out there.
I went to school (university) with Tim Sykes. We overlapped a few years, but we never spoke. He deals mainly in penny stocks and has found an ingenious balance between profiting from subscriptions and profiting from pumped penny stocks in which he has made legal/obscure proxy investments. I am not knocking Tim. I do believe he was already rich before he started this business, for whatever that is worth. As a trader, I KNOW that pumpers and writers, regardless of accuracy and timing, are guys who just can't manage risk. Period.