Young Money is seeking your honest comments on whether Tim Sykes should be teaching new investors on how to trade: http://www.youngmoney.com/blog/?p=258
Daniel, Timothy Sykes is a con artist. His knowledge of capital markets could be written on a post-it note (the small kind). If you have half a million college students day trading during a bubble market, then at least one will turn $12,000 into $1 million. Now, if you admire dumb luck then that's your business. But it is highly irresponsible to present this dart throwing monkey as someone who should be dispensing financial advice to financially distressed college student, as you have done. You fucked up in your role as Managing Editor and now you are trying to control the damage by rationalizing your poor decision on your blog. http://www.dealbreaker.com/2007/10/unhappy_with_the_tim_sykes_cov.php#comments
LOL Your statements keep getting more ridiculous. Did I con the DJ Newswire into calling my book "part Reminiscences of a Stock Operator"? Did I con MOJO to play my TV show 800 times? Did I con thousands of people into emailing me for more information? Your whole thesis is based around your misguided assumption that i only made money in the bubble. I don't know how you forget that I made hundreds of thousands of dollars in 2001, 2002, 2003, 2004 and 2005. Yes, 2006 wiped out my 03,04,05 gains--deal with it! Seriously dude, whats wrong with you? All the media that feature me read my book and they like it. It's that simple. You're fighting a losing battle here buddy, probly because you don't have all the info. Like a trader who's short a stock that just keeps rising. Buy to cover! Buy to cover!
"Bright"propguy What's your problem? Tim succeeded where many others failed, and still there are some others succeeded more. That he has become famous as a result isn't at your expense, so you should tone down your criticisms because they really sound like they are based on nothing more then jealousy. Re how much he knows, I have no idea, and you probably don't either. What we know for sure is, he did a lot more then most people on et, because bubble or not, he turned 12000 into 2m, and I haven't found a lot of people on et making that claim or anything remotely similar. So lighten up. DISCLAIMER: I don't know Tim, and have no social or business activity with him in any way, shape, or form.
If you have half a million college students day trading during a bubble market, then at least one will turn $12,000 into $1 million. Now, if you admire dumb luck then that's your business. But it is highly irresponsible to present this dart throwing monkey as someone who should be dispensing financial advice to financially distressed college student.
I agree and that's why I detail all my mistakes for everyone to learn from. And for all my mistakes, I'm still in the game, still up 60x my initial stake (after tax) so I'm doing something right. More over, these losses make me wiser--thus allowing me to more useful commentary--and will help me trade better in the future, just watch.....