152: Timothy Sykes: How To Turn $12,000 into $1 Million in 4 Years Trading Penny Stocks

My guest in this episode is Timothy Sykes. Tim is a millionaire stock trader and teacher who has been featured on CNN, Fox News, amongst others. He owns and runs the largest online trading academy for penny stocks, and he recently launched his foundation, The Timothy Sykes Foundation, which has donated to dozens of charities such as Make-A-Wish and The Boys & Girls Club. Tim turned $12,415 in Bar Mitzvah gift money into $2 million and started a hedge fund during his senior year. He also created a scholarship for talented/passionate people open not only to current Tulane students, but also Tulane faculty and alumni…an economic bailout ahead of its time. His  hedge fund went on to become the #1 ranked short bias fund by Barclay for 3 years and he was named to Trader Monthly’s ‘Top 30 Under 30’ in 2006, but his trading strategy was never very scalable (meaning it’s much easier for me to make $100,000 than it is $100 million) and my fund lost 35% when I tried long-term investing instead of trading. Infinitely wiser but embarrassed and depressed, a TV producer asked him to make an appearance in his upcoming documentary “Wall Street Warriors”… Timothy had lost his confidence and credibility so he said sure and ended up starring in 5 of the 6 episodes of the hit first season, which you can watch on Hulu, now having aired in 20+ countries and followed by 2 more seasons (Wall Street Warriors Season 3 was filmed but has not aired). The show’s popularity inspired hundreds of daily emails from fans wanting to know more about him and his trading strategy, but as a hedge fund manager, he was not allowed to answer any of them. So he said “screw you!” to the restricted hedge fund industry, and wrote openly about his experiences in his best-selling autobiography “An American Hedge Fund” and started a publishing company to create brutally honest & educational financial newsletters and instructional DVD packages. Interview Links: Timothy Sykes If you have enjoyed our podcast, please share with friends and family Please Subscribe, Rate, and Review on Itunes so more people can find us! so more people can find us! Please Support Us by Becoming A Patron on Patreon Open Your Goldmoney Account & Get A 5% Bonus Support Our Sponsors Joint Ops Properties, have designed a system to take any beginner to an experienced deal making investor in the least amount of time, offering opportunities from basic education, coaching, bridge investing to turn-key investments in the cash flowing market of St. Louis, MO. www.jointopsproperties.com Spartan Invest, helps investors create passive income and wealth through turnkey ownership in Birmingham Alabama. www.spartaninvest.com Norada Real Estate helps take the guesswork out of real estate investing.  By researching top real estate growth markets and structuring complete turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability. www.noradarealestate.com Valhalla Wealth Financial, reclaim the banking function within your own life with the premier strategies of the Wealthy. www.valhallawealth.com Audible, download any audio book for FREE when you try Audible for 30 days www.cashflowninjabook.com Thanks so much for joining me again. Have some feedback you’d like to share? Leave a note in the comment section below! If you enjoyed this episode, please share it using the social media buttons you see at the bottom of the post! Also, please leave an honest review for the Cashflow Ninja Podcast on iTunes. Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and I read each and every one of them. And finally, don’t forget to subscribe to the show on iTunes to get automatic updates, please follow me on twitter @mclaubscher and Instagram, @cashflowninjapodcast. Until next time! Live a life of passion and purpose on YOUR terms, M.C. Laubscher