Q&A With Timothy Sykes: Righting Some Wrongs
Posted by timothysykes on Wed 2nd of Apr, 2008 02:44:22 PM
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1. I love answering questions, any and all questions, but if you guys have questions about stuff like my strategy, my book An American Hedge Fund, my instructional DVD PennyStocking, basically anything whatsoever, please, please please post your questions in the FORUMS. Right now, I’m about a week and a half behind on emails and I get too many asking the same damn questions! (want more real-time updates, follow me on Twitter…my book is only sold online…no, I’m not gonna give you free copies just cuz you’re poor…yes, I am available to speak (that you can email me about)…no, I haven’t lost everything, I’m down 30% or 35% off my highs…yes, you can short stocks under $5, read the past 400 blog posts or so!) Forums make it much easier and I like getting all the info out there for everyone to see and debate. So keep ‘em comin’, gratzie.
2. As of April 1, 2008, Covestor shows me up 150% during the five months since TIM inception in November 2007. This is inaccurate. I’m really up 40% since then. Not too shabby, but I get too many emails about this. Covestor is a great great platform that the industry needs, but they only track people’s trades and investments, not their cash positions. Since I only trade 1-2 stocks at a time, leaving the rest in cash—as compared to the popular diversification route/scam involving dozens of positions and very little, if any, cash—my Covestor returns represent what would happen if I used 50-100% of my portfolio each time, instead of the actual 20-40%.
Considering how small dollar-wise my positions currently are and how much better my returns would be if I did go all in—maybe I should??! Nooooooooooooooo—that would be setting a bad example to all the newbies and kids out there. I’m trying to preach conservative (somewhat) short selling/ penny stock trading!
So, please recognize the difference, understand how awesome my strategy is, how not-so-great I am at taking full advantage of it and that my publishing business model is based on brutal honesty. I’m never gonna cheat at ANYTHING because even if it did get me ahead, a.) it’d be wrong and b.) I’d be risking my entire biz model! Get used to me making plenty of mistakes…they make make me just happy because not only can I write about them to help others avoid them later, contrary to the joke that is financial wisdom propagated by generations of snake oil salesman, frauds, liars, marketers and untalented and unintelligent bastards, mistakes are nothing to be ashamed of, the problem is not learning from them!
3. Do not ask me questions about stocks in the comments section of my blog posts—you may have noticed this site’s popularity is on the rise, there’s no way I can keep up with them all, so instead post your questions about chart patterns, stocks, investments, ideas, whatever, in the FORUMS
Am I getting through to you yet?
Post them in the FORUMS, post them in the FORUMS, in the FORUMS, in the FORUMS
How about now?
4. Why am I so obsessively branding ‘TIM’, am I some kind of narcissist?
No, I’m not a narcissist, just a guy who knows he’s gonna succeed because in an industry full of BSers, my claim to fame is being able to the whole truth and nothing but. Tough truths like despite all the news spouted out by the WWF-like financial media circus each day,opportunities for high probability trading profits are rare. Or long-term price targets on momentum plays are akin to guessing the temperature years from today.
Truths like all CEOs are full of BS, in fact they’re professional BSers, that’s how they’ve gotten to the top! And even the toughest—I don’t now what’s gonna happen with xyz stock, most price action is pretty random, there are too many unpredictable variables, better off going to the beach and returning when the variables are predictable.
Remember, besides Transparent Investment Management, TIM also stands for Trust In Me. And that’s exactly what you’re gonna do—in time—because, for better or worse, I’m gonna call it like I see it. Always. And while I’m no industry bigwig, I’ve got a decade of experience under my belt and for all the taxes, my mistakes and going it on my own without any mentors or corporate experience whatsoever, I’ve still got 60x the money I had just a few years ago. Think about how you’d feel if you made 60x your current account within a decade, pretty damn happy, right?
My strategy will never make me or you more than a few million bucks, but you know what, I make money trading—whether it’s a few thousand, tens or even hundreds of thousands of dollars per year and I can help make you money trading too. In an industry where 90% of traders fail and NOT ONE OTHER “guru”, “market expert”, “talking head” PUBLICLY DISCLOSES ALL their trades and investments, their ENTIRE track record or is willing to publicly answer ANY question EVERY day.
So, you see, I have a lot to be proud of. It’s not ego, it’s confidence. Confidence in purpose. Confidence in the future.
Check out my brand new DVD, ShortStocking - the only guide you'll ever need to profit from short selling!
Do you have a black card Tim?
NCEN nice close
serves me right for writing this article near the close and missing NCEN–where was the heads up TE!
Hey Tim, what’s your thought on DSTI? Oh, and why does Covestor show you as being up 150%?
But seriously, the real question is DO YOU EVER NOT SMIRK?!
lol…did you not just read the blog post above?
You should read your comments. Posted this mourning when it broke 3.37
@Zykosis — I was trying to be funny. I guess I should stick to bashing stocks. Yeah, of course I read the article.
morning…sorry can’t spell
Michael I’m long DSTI.
nah i saw NCEN this morning but the key time to buy was when it broke out past $2.60…ah well another lesson learned for me, enjoy the gap up past 3
Solars still going ah. CSUN 9, SOLF 15.
If anyone else is around in New York, tonight at 7:00 I’m finally going to Bouchon bakery.
I TRUST IN YOU - especially with that smirk on your face.
CSIQ chart looks nice around $24. What do you think?
NCEN beautiful chart!
They have snuck funds in slowly on that one I wonder if they are doing a mailer or just a straight up good story. On the boards they are talking about going to Nasdaq. At any rate definitely somethinggoing on and makes it’s moves when you least expect it!
DSTI looks great on chart - another day or two followed by a decent pop and we’ll be penny stalking it.
Good evening Mr. Sykes,
Regarding your methods with which I’m interested in…
Can you apply your method to a company I bot today - CHS?
Just wondering what your analysis says.
Thanks guy
What are your thoughts on the great Visa setting a record IPO?
Anyone in for the long haul?
CBTE is looking like it might be worth a short.
Brendan -
Is this your first time to the site? The stock doesn’t represent anything that he’s preached …
AP - I like that one maybe over $3.50-4’s … for the short, very low volume though
Just put the questions that everyone asks in the FAQ and display the link prominently on the front page. Seems simple enough to me.
Tim, a fund manager writing on another blog called you a genius
“Tim Sykes happens to be a close friend. He is badly misunderstood but I don’t expect the state school authors here to understand him or his genius. (He is a little self-promiting sometimes, but you just have to get used to it).”
http://dealbreaker.com/2008/04.....p#comments
sorry Tim, you are losing me as a regular on this site if I have to sort through the forums to see what stocks are being played. I usually have the latest blog post on one minute auto refresh to keep up with the days events.
As I told you before, your forums are crazy cumbersome, it makes NO sense to have a separate forum for each stock. If i want to know about a certain stock, there are 6 different forums I can post the question to you.
oh the comments section of each post will always have play-by-play of what stocks we’re playing, i’ talking about random people asking about random stocks that dont come close to being in play and then they get angry that i dont respond to their crappy stocks. big big difference
Sadly, Tim, I’m with BTB - the forums are a little undigestible and, without being crass, you’d get more page hits from updating your main page. I’m all about the site, the new site, branding, your speedy and characteristically un-proofread AIMesqe replies (u nnow what I mean>?), etc., but the forums could use the most overhaul.
Make the forums searchable, use it more as an archive of your plays, posts, etc. The articles make a much easier anchor for commenting and following that discussion, especially with an auto-refresh.
For someone with organically growing (and I don’t mean like COIN’s product - ugh) viewership, you shouldn’t have to worry about page hits, but it couldn’t hurt.
Just thoughts from some of the regulars…
zach right on, this wasnt meant for the regulars, guess i shoulda phrased it better. new site is gonna have alllll sorts of new features
Brendan,
Probably Tim doesn’t have time to write about every single stock “crapy stocks” in his words, mentioned on this forum. But as Tim has been preaching to buy at strength and sell (or short) in weakness. CHS has this support arond $7 level. If it breaks down below $6.60 with heavy volumn, everybody should short CHS, IMHO.
Karen
Hey Tim,
Just finished the book. Really easy reading and entertaining. I really like the last few pages where you talk about how the SEC if FOS. I think part of the reason the SEC has so many regulations is because they think that hedge fund managers are evil. I see these idiots on CNBC saying how this fund manager makes too much money or how fund managers should pay more in taxes. They think fund managers are out there waiting to profit as the lonely investor loses his shirt.
These people think all you do is sit a computer all day like you said in your book and “play a video game”. This would be like saying anyone with colors and a brush could paint the Mona Lisa. These people have no idea how much work it takes to be successful in this game. You know who these people are, they are the people Francisco was talking about in his money speech. You know what I am talking about, and for all those people on this blog that don’t that is a shame.
Anyway, just my two cents. Good luck and hope you have much success.
Not a problem - like you’d get rid of us for merely suggesting we go to the forums to post.
Who do you think we are? Fickle semiwannabe investors reading a nascent online blog who flock to pics of Dupre? It’s not like we’re going anywhere.
Oh, and for people who jump in (usually nameless - speaking of which, where’s ‘NoName’?) to drop ?s about stocks . . . don’t worry. If you don’t respond, it’s because it’s OFF TOPIC - unless you’re writing about a stock (or about to be writing about a stock), screw what the randoms think.
If they ask, it’s your choice to respond - that’s how that whole successful web publisher thing works, I think.
I’m syked for tomorrow’s post (and positive someone has already made similar, horrible puns in the past). See you then.
Maybe there could be a watch list posted on the side and you click on the names to talk about them. More organized than the forum.
glad to hear TIM, will stay on the front page
What is your guys plays today? I am looking at COT to take a fall today. aAready 10 min into the day and almost no volume! Might be the day it will run down.
You should look into commodities. The gains that you report could be made in a matter of minutes!
DO YOU EVER NOT SMIRK?!
Timothy Smyrkes - ahahahahahaha!
LOL @ Booyah