Is Timothy Sykes A Scam, What is His Net Worth?

American stock trader, entrepreneur and penny stock expert, He is best known for earning $1.65 million by day trading while attending Tulane University

Timothy Sykes Bio

Born on April 16, 1981, Timothy Sykes is best known for turning his ‘Bar Mitzvah’ money into over $1 million from day trading while at Tulane University. He started day trading penny stocks in 1999 with $12,415 which he received in Bar Mitzvah gift money. He turned the investment to over $1.65 million when he was just 21.

Sykes completed his studies and eventually graduated from the University in 2003. He also founded Cilantro Fund Management LLC in 2003 with the money ($1 million) he loaned from friends and family. As a short bias hedge fund, Cilantro Fund eventually became popular and gained the attention of the business world.

As an author, Sykes has written for several online magazines and blogs. Meanwhile, he self-published – ‘An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund’ in 2007. The book detailed his life during his university days and how he turned a small amount to hefty wealth.

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Sykes has also been working as a financial activist and educator. This didn’t stop him from launching Investimonials.com, a website where he provides details about financial services. He also co-founded Profit.ly in 2011, a platform offering knowledge about stock trades. Sykes profile on the platform affirmed that he is a self-made millionaire trader and, that he’s been profiting from teaching the ins and out of penny stocks. It’s said that his students have now made over $16 million.

Is He A Scam?

Our investigations reveal that Profit.ly can boast of over 84,000 trading members who share their performance and trades openly to help each other learn and improve their trading skills. Likewise, Investimonials.com has more than 65,000 investors and traders.

Though Timothy Sykes is a registered investment adviser, he has severally refused to show documents that would validate most of his claims. He was on the news sometime in the past after he came for celebrities like Justin Bieber and Shaquille O’Neal for inflating the price of stocks they own through misleading positive statements just to sell the stocks at a higher price.

Sometime in 2006, Trader Monthly’s editor, Randall Lane proclaimed that Sykes is one of the lifestyle magazine’s “worst pick” for its 30 Under 30 list for up-coming and outstanding traders in the market. What happened? Tim cited Barclays and asserted that his Cilantro Fund was the number one long-short microstock hedge fund in the country. The financial traders’ magazine editor later uncovered that Tim’s claim was misleading, the rating wasn’t from the popular Barclay’s British bank.

It was insinuated by many that Tim is a fraud until he decides to shut every negative comment up. That was in 2008. Mr. Sykes decided to redo what he did with his bar mitzvah money. Again he invested $12,415 and named the project Transparent Investment Management. If you didn’t notice, that’s an acronym for his name – TIM. 24 months later, Sykes increased the sum to $90,368. While he validated himself, it wasn’t surprising he was the top-ranked trader on Covestor.

Irrespective of the controversies Sykes has been involved in and the negative reviews he’s been receiving over the years, his popularity has not declined. In fact, he has grown more popular. He was featured in several television programs on CNBC, CNN, etc. Apart from that, he’s a popular writer for AOL Finance on TheStreet.com.

What Is His Net Worth?

About three years ago, Forbes reported that Tim’s blog, where he teaches penny-stock trading is expected to bring in $15 to $20 million. On the website, Tim brags that he’s so far turned $12,415 Into $4,650,000.

Before that, Sykes was spotlighted after it circulated that another trader, Tim Grittani turned $1,500 into over $1 million in 3 years. It is believed that Grittani learned about penny stocks from Tim Sykes. He reportedly learned about Syke’s trading success story from the internet and thereafter, spent some months learning Syke’s theories. He almost lost all he invested when he started trading; eventually, he turned things around for himself. He is currently estimated to worth around $20 million.

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