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So Money with Farnoosh Torabi

100: Tim Sykes, Pro Investor and Founder of Profit.ly

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.72K Ratings

🗓️ 21 April 2015

⏱️ 34 minutes

🧾️ Download transcript

Summary

Those of you who are interested in the stock market and enjoyed listening to the recent episode with Frank Cruzio (episode 78) are in for another treat… Today’s guest is a rader who made millions by age 22 by investing his $12,415 in Bar Mitzvah gift money in penny stocks… He also started a hedge fund during his senior year in college that went on to become the #1 ranked short bias fund by Barclay for 3 years. His name is Tim Sykes. After his hedge fund went bust in 2007 (that’s right, don’t try to do this at home, folks!), Tim appeared on major TV networks and shows, including a popular reality TV show “Wall Street Warriors” which aired in 20+ countries and inspired hundreds of daily emails from fans wanting to know more about him and his trading strategy… He ended up writing about it openly in his self-published best-selling autobiography “An American Hedge Fund” and later started a publishing and financial education company. He now has 3,000+ students in over 70 countries that he teaches how to trade and grow thousands into millions. He also runs a social network for traders called Profit.ly, which has about 50,000 members, some of whom pay Tim to receive daily e-mail tips, weekly newsletters, and access to thousands of videos such as the trading webinar he’s just begun. Tim has also recently started a program with former NFL star Plaxico Burress to help educate athletes on how to be financially smart with their money, especially once their professional sports career has run its course. Some takeaways from our interview: ·      How he made millions by age 22…and what did he do with that money? ·      If you’re just starting out and new to the active investing world, what should you do first?

Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open!


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Transcript

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0:00.0

So Money episode 100, Tim Sey.

0:04.0

You're listening to So Money

0:06.0

with award-winning money guru Farnu Shorabi.

0:09.0

Each day get a 30 minute dose of financial inspiration

0:12.0

from the world's top business minds, authors, influencers, and from

0:16.0

Farnus herself.

0:18.0

Looking for ways to save on gas or double your double coupons?

0:21.6

Sorry, you're in the wrong place.

0:24.0

Seeking profound ways to live a richer, happier life.

0:27.5

Welcome to So Money.

0:31.8

Welcome everyone to So Money, our 100th episode. We have come such a long way. Thank you to all of you for listening and supporting me since day one. I can't believe we've reached the centennial already. Oh my goodness, I'm your

0:45.7

host, Farnu Shurabi. It's a pleasure to be hosting the show every single day. Now, for those of you who are

0:52.2

interested in the stock market as I know many of you are and

0:55.9

you've enjoyed listening to the recent episode that I had with Frank Curzio that was

1:00.8

episode 78 you're in for another treat.

1:03.4

Today's guest is a trader who made millions by age 22

1:07.5

By investing his bar mitzvah gift money. It was about 12,450415 to be exact.

1:13.8

He also started a hedge fund during his senior year

1:16.5

in college and today he is continuing

1:19.5

his investing magic.

1:21.0

His name is Tim Sykes. Now after his hedge fund went bust in 2007. That's

1:26.6

right. He says don't try this at home folks. Tim appeared on major TV networks and shows including

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