An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund
by Timothy Sykes
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Book Summary Information
Author: Timothy SykesEdition: Paperback
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2007-09-24
ISBN: 0979549701
Number of pages: 235
Publisher: BullShip Press
Book Reviews of An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund
Book Review: Neat story BUT Please do not trade PENNY STOCKS
Summary: 2 Stars
I was given this book as an audible version... I actually had it for over 3 weeks then on a long drive in my car it was the only thing I had on my IPHONE so I decided to listen to it. Not bad until I learned this kid was investing in Penny Stocks..... OH HOW I WISH TIMOTHY DID NOT WRITE THIS BOOK BECAUSE IT WILL JUST SUCKER PEOPLE INTO DANGEROUS TRADING.........
I was mortified... Sure you can make money in penny stocks but you can also make money on a slot machine... A loose slot machine....
His lack of wanting to spend money in his hedge Fund was a joke... Timothy states when he had a broken monitor he didn't want to spend money on a new one... Yet he was able to take all his class mates out to lavish dinners. Timothy wanted to start a hedge fund yet he was upset by the amount of traveling and cost it took to go meet clients and also spending $1500 to have access to a large list Hedge Fund information or some website.... If you are making a few million and trying to build a business such as a Hedge Fund, expenses to make it great should be last on your list....The whole story is strange and the title of the book is sour (American Hedge Fund?) . The book should be called The Penny Stock Success and Fall of Timothy Skypes... Didn't it ever occur to this guy that the reason he could not get investors was because NO SERIOUS INVESTOR WANTS THEIR MONEY IN PENNY STOCKS?
Timothy kept calling the bigger stocks such as Yahoo the bigger names on CNBC to expensive.. Has it ever occurred to him that the bigger stocks are more expensive because they are proven companies. If he had only took his lucky earned capitol from the pump and dump stocks and placed them in solid companies, He could have been the hedge fund he wanted to be.....
So basicly the story is Timothy fell in the Dot Com bubble and made easy money and when it was over
he found it hard to continue the game. That is because with penny stocks there are no second and third chances. They run up and then pop.. With a solid company with solid growth if stock consolidates you don't have to freak out and sell. Most good solid stocks will consolidate and move up or move down for a while.
Penny stocks do not do this because they have nothing solid. They are penny stocks for a reason. I won't even
touch a stock until I see growth with future growth ahead , proven earnings, and stability. Of coarse even solid companies have problems but with Penny Stocks its hit or miss.
Timothy's way is not investing, it is suicide. If you are going this route please be careful. Eve though Timothy says he made millions, take into consideration the time he was doing his investing. The DOT COM bubble was a time when any stock would run up for no reason and people were making a killing. These companies that were running up high didn't even have one earnings Report. Earnings didn't matter it was all about what stock was hot today on the message boards. That is not investing...
And that is why Timothy didn't get his Hedge Fund. There is no way I would hand over a couple million dollars to a guy that even though had great past earnings, would put my money in penny stocks...
Then I also think about the next reason Timothy wanted to start a hedge fund, as he stated it was because
he didn't want to risk his own wealth anymore......
If he was such a great investor then why would he be worried about risking his own wealth..If he understood risk management and he was as good as he said he was in stocks why would he worry about risking his own wealth?
This is not a reason to start a Hedge Fund... You start a HEdge Fund for more leverage to buy high quality companies not so you can play other peoples money on the Penny Stock Slot Machine.......
According to Timothy's website he now sells high priced DVD's for over 200.00 and trains people in penny stocks....If Timothy is truly helping people, more power to him, but I wish he would take his talent and turn it to companies that are solid that don't trade up to $1.00 and then drop to .05 in one day.....
For all you American Dreamers..... PENNY STOCKS ARE COMPANIES THAT ARE WORTH WHAT THEY TRADE
IN PENNIES PINK SHEETS....
STICK WITH COMPANIES OVER AT LEAST $10.00 and are listed on a major exchange such as Nasdaq, S & P 500 etc...
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Summary of An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund
$2 trillion is invested in the hedge fund industry, and yet, due to industry regulations, the general public knows little about them. This book will change everything. Timothy turned $12,000 of Bar Mitzvah gift money into $1.65 million trading thousands of stocks from 1999-2002, managed the #1 Short Bias Hedge Fund from 2003-2006, starred in the television documentary Wall Street Warriors, and appeared regularly on CNBC all before the age of 26. It's been a wild ride. This 'Rocky'-like story is the first realistic look at the world of stock trading and hedge funds--it will educate and inspire everyone.Business Books
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