Last Updated: 16 December 2016
Timothy Sykes – the Godfather of Internet Marketing in Finance.
Timothy Sykes, the self proclaimed “penny stock millionaire“, wasn’t a pioneer in this space, but he did take it to a whole new level, and now we see many trying to copy his model for internet marketing riches.
Now many of you will accuse me of “hating” with my unbiased thoughts on Timothy Sykes. I don’t mind though, because what I am about to expose is 100% fact. If you wish to believe the hype, the manipulation, the downright lies, go ahead, be my guest.
In case you haven’t heard of Timothy Sykes, he is “the guy” who supposedly turned his $12,415 Bar Mitzvah gift money into …. who knows, he keeps changing it. It used to be $1.65 million, then $2 million, now it seems per his website that it is $3.2 million. Ah, the ever evolving strategies of an internet marketer.
Anyway, what amuses me most about this claim is that it has never been proven. I’m not saying its impossible, not at all. Except despite CNBC, CNN, Fox Business, Money Magazine etc etc all wanting a piece of Sykes, nobody has ever ask him for proof to back up his claims.
Instead Sykes relies on his claim that he had an audit of his earnings that took him from $12,415 to over one million dollars.
Just because Timothy Sykes says he had an audit done doesn’t make it true.
I asked him repeatedly to show me the audit he supposedly had done on his earnings. He refused.
I sent many emails, I spoke personally to, some of the journalists and editors of the media publications that have featured him over the years. Without exception, nobody I conferred with have seen an audit, or any proof, to back up his claims.
Yet idiots keep believing his BS.
Sykes is a decent enough trader, I guess. He knows the penny stocks to watch and can spot breakout opportunities just like thousands of other successful traders can. Nothing too special there.
And he can identify short selling opportunities (his “specialty”), just like many others can. Again, nothing revolutionary.
If you look at his trading history, he gains per trade are not very impressive at all. Timothy Sykes averages around 10-15% per winning trade, good but hardly world beating. Certainly not when you compare those gains to ours.
But the grand illusion behind Sykes’ $ profits is the very large position size he takes to generate these profits. His ability to take more risk than the average trader is because trading is just a side show for him, his real money maker is internet marketing, selling subscriptions, peddling DVDs and so on.
He doesn’t care if he makes a loss (and yes, he’s had a fair few very large losses in his time), because he is financially secure from the income generated in his real business.
But what really intrigues me about Sykes, is his self-imposed “war” on stock promoters. He claims to expose them, and profit from short selling the promoted stocks.
The problem with is “strategy” is that his profits from short selling these promotions are a fraction of what can be achieved from buying them.
And what’s even funnier, is that in 2012, Sykes was paid by a group to promote a stock. He was paid $100k for promoting it, and it fared dismally, crashing to earth before it even got started (irrelevant but interesting fact).
Now this is only one instance of paid stock promoting he has made public, there could very well be many more (through third parties, discrete overseas corporations and bank accounts etc) that he hasn’t disclosed.
p.s. If you are interested in Timothy Sykes DVDs (I’ve seen and I don’t know why you would be), save some money and look on Ebay.