Binding: Paperback
Dewey Decimal Number: 332
EAN: 9780979549700
ISBN: 0979549701
Label: BullShip Press
Manufacturer: BullShip Press
Number Of Items: 1
Number Of Pages: 235
Publication Date: 2007-09-24
Publisher: BullShip Press
Studio: BullShip Press

$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.

Customer Rating:
Summary: One of the top 10 trading books I've read
Comment: Personally I liked this book very much, because it chronicles the ups and downs of a real trader (unlike the vendor-only crowd).

I'm not sure why there's so much negativity with Tim, in reading his book I thoroughly enjoyed it (along with those by Nison, Oz, Rudd, and Turner). He's a young guy with chutzpah who made it, and for that I respect what he's done.

What comes through is, here's a guy who's a real trader who's had his ups and downs, and through it all has proven he was able to take 12k to 2M, which is more than 99% of home-based retail traders I've seen be able to do. Yes he made trading errors w/his fund, but through it all shines the gleam of a successful trader who was able to trade his own money way up, in a big way.

Unlike the theory-only trading vendor books out there, this is a book written by a real trader, which is rare (like Tony Oz's books, also great, from a real trader). I personally got a lot out of it, and believe it's a "must read" for any active trader. Well done!

-Ken Calhoun

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Customer Rating:
Summary: Stopped at page 97 and skimmed the rest
Comment: Looking for an interesting story about hedge funds and some inspiration, this book caught my eye. After making it 97 pages through the book, the title should actually read "How I got lucky in the stock market". I can't fathom why anyone would follow his trading style - no one in their right mind would invest in illiquid penny stocks (his bread and butter), his risk management was frightening (many times he mentions risking 30%, 50%, 75% of his net worth on trades) and he appears to lack any technical ability in trading stocks. There doesn't seem to be anything but luck in his favor, especially considering it was the dot-com era. Oh, and his hedge fund was a disaster, if you really want to call it as such. I'm realizing now that the reason why it is such a fast read is that it is void of any meaty material. Pure fluff and puff. If you buy this book, you'll do exactly what he wants you to do - line his pockets, since all he has now going for him is this book and his website where he hocks his wares. Save your money and check it out from the library like I did.

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Customer Rating:
Summary: Neat story BUT Please do not trade PENNY STOCKS
Comment: 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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Customer Rating:
Summary: How I Wasted $15 on This Garbage
Comment: Where to begin? All of the other people that have reviewed this book and given it a 1-star rating are spot on. Like everyone said, he got lucky during the dotcom bubble and doesn't know how to make money any more. I love the fact that he's obsessed with selling short while he has his hedge fund - then the arrogant prick has the audacity to blame industry regulations for this failures as a hedge fund manager. The definition of insanity is to keep doing the same thing over again and expecting something different - according to this definition, Sykes is definitely insane. I'm sorry, but if you can't make money with $2 million USD, how is having $10 million USD going to improve your trading?

More than anything, I'm angry. I normally find that I can rely on Amazon's ratings for a book, but this one was a HUGE let down. I can't believe I wasted valuable time and money on this garbage.

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Customer Rating:
Summary: Excellent Book!!!
Comment: This book is awesome!!!! You will probably finish this book very quickly, because this book is very interesting and enticing.

Tim has taught me so much in this book! Tim cuts the "bullship", and teaches you lessons you will never forget. I am only 15 and recently begun playing the stock market, and thanks to this book I have avoided many beginner mistakes.

This book is truly amazing, I would recommend buying it for anyone even if they're not into finance! Tim has truly inspired me and he will inspire you too!

-Liam

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