As some of you remember, I attempted to get some speakers for the Investments Club from the University of Arizona around 2-3 months ago. A few speakers confirmed and 2 speakers ended up bailing (not going to name them). One of the speakers that confirmed who showed up was Tim Sykes. I'm not going to kiss his ass or anything like that, but since he did show up to the club I thought I would give him a fair review. Overall, the presentation he gave was meant for an audience who know little to nothing about TA and that's what I believe he is trying to target - fine for most of the members of the club who think it's voodoo. He got a few good messages in there, ie, don't buy microcaps, pink sheets, BB stocks and most of the presentation was spent showing the activity of POS stocks that spike and come back down to earth. He also motivated people - once again, good. As a public speaker, he's well rehearsed and he came prepared. Now onto the bad stuff... There is a contradiction in that he warns against the dangers of penny stocks but he sells methods on how to short them and that's pretty apparent. He's also, and he admits this freely, not a great trader. This is a double edged sword in that if he's able to make it, then it must be true that nearly everyone else can, but at the same time, it leaves the question, "if he can't do it, how can he teach it?" It's pretty apparent that his timing sucks for entering/exiting and that's part of the discipline problem, but he was very upfront with his limitations during the presentation so at least he was honest about this part. The presentation could have been better if he actually included intraday charts, but i think his point was to motivate over to teach the methods. Above all, I got the impression that he likes all kinds of attention (I think he actually might be a freak in that he enjoys people that slam him). He went out with us after the meeting and as a person he was cool, no different than any other recent college graduate/college student. He's actually pretty funny and a character, although he eats like a girl (haha... if he sees this maybe he'll try to respond with an excuse). Overall, for the purposes of what I had in mind for the club, he was a good speaker. I wanted someone who could motivate the club and show it can be done (even if you arn't the greatest). He was able to show that you don't have to be the best or be right all the time to still make money and that as a small trader, you don't have to get fancy in your methods. He caters towards people that are just starting out and that's fine as long as he's not claiming anything bigger in my opinion. I don't think he's promising to make anyone a millionaire although I could be wrong... Anyways, that's just my opinion. I don't read his blog and I don't have his DVD, although I did read his book. I also don't play in his world of stocks or trade anywhere near how he does. This is just a small thank you for his presentation (even if its a little backhanded).
It's a good thing he didn't pretend to be a slobbering drunk and tell everyone to f#ck off. But then again, it would've been an another youtube opportunity and brought you down in the process. Edit: you said this was an investment club and you wanted sykes to dumb it down? hilarious!
well you need to use your head little more OP, or maybe you already are but are being too nice about it well why don't I say what we are all thinking more than anything Sykes LOVES HIMSELF too much when a person loves himself too much, that blinds him to active thinking when a person is able to resist self worship that person is able to think better and perhaps become a great trader this is why Sykes is quite literally a loser and why I for example am on to my 4th mil
As it worked out, I became president of a club whose main goals are investing (long term stuff). Because I don't really care about that, I try to do what I can even though I am not necessarily in the situation I want to be in. I would rather be trading than managing a club, but it feels good to give back... though at first I didn't see it this way. Believe me when I say that it's difficult to find a trader who is willing to do this who is not a completely loony toon character (and I realize it is because there is no incentive). I have talked to Tim Morge about speaking and he seemed to like the UA, so I hope that will happen. I have tons of respect for Morge, so hopefully that will be next.
I think I used my head just fine... of course I could rip into him, but I am an even smaller fish in the pond and I don't like to start trouble or create waves. No ego for me and no limelight, please. Congrats on the 4 mil.
No more of a salesman than any other speaker we've had. And yea, it sucks to say that, but there isn't always a choice. Once again, I inadvertently put myself into a position I did not necessarily want to be in as my goals conflict with the goals of the club, but here I am trying to do my best anyways. Where's the incentive for someone to come speak who has nothing to sell? It's happened one other time this year and hopefully next semester with Tim Morges, but those people are few and far in between.
The goal is learn from different people's experience which is useful. You would get a lot more going to local offices if Investment Banks and asking one of their bigger guys to come and speak to your group (they like that educational exchange). Granted it is Arizona and you will not get the NYC or Chi traders but you still get a good experienced person. Or organize a group trade to Trader's EXpo Las Vegas- lots of salesmen but free seminars on various trading info as well. Of course bringing in an author is fine with a book to sell but with Sykes you are getting Hollywood and Hype when you want facts and figures. I am sure he was entertaining though...