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Young Investor Series – High School Student Invests Bar Mitzvah Money & Becomes Millionaire by 21

Young Investor Series – High School Student Invests Bar Mitzvah Money & Becomes Millionaire by 21

A main goal of the 8020 Connect Shareholder Engagement Platform is to spark an interest in millennials to further educate themselves on the investing process. Bringing social media into the investment world allows for a new level of transparency and interaction between public corporations and investors, and creates a new environment for making better-informed investment decisions. As a millennial, investing may not even be on your radar, but it should be. This series will showcase four young adults who have had some great success and what they’ve done to generate wealth from the investing process, let me introduce you to Timothy Sykes, American penny stock trader and entrepreneur. Timothy is well known in the media for turning his Bar Mitzvah money into over a million dollars. “In 1999, while attending high school, Sykes used $12,415 of his bar mitzvah gift money and began day trading penny stocks. The investment would grant him about $1.65 million when he was around the age of 21. Sykes graduated from Tulane University in 2003 with a bachelor's degree in philosophy and a minor in business.
While at Tulane, Sykes routinely cut class to day trade. In 2003, during his senior year, he founded Cilantro Fund Management, a short bias hedge fund, using $1 million mostly from Sykes' friends and family. In 2006, Sykes was included on Trader Monthly's "30 Under 30" list of up-and-coming traders in the market, a selection which editor Randall Lane later called "our worst pick" among the chosen honorees. Sykes claimed that the Cilantro Fund was "the number one long-short microstock hedge fund in the country, according to Barclays"; Lane later discovered that the rating came from "the Barclay Group," a small research company based in Fairfield, Iowa, and not the well-known Barclay's British bank. In 2008 Sykes decided to recreate his initial investing success by again starting with $12,415. He named the attempt Transparent Investment Management (TIM). After two years, Sykes turned the sum into $90,368 and was the top ranked trader on Covestor.”
He is involved in several financial literacy websites, has published an autobiography, countless blog posts and educational newsletters, and has even appeared on financial reality TV shows. While it is not the norm for fame to follow in investing situations, Timothy’s philosophy about transparency and being completely open and honest about his strategies and how he achieves greatness repeatedly is important for any new investor. Timothy currently offers his wisdom to thousands of students all over the globe. “I come from this world of full transparency: It’s not just about making money, it’s about being honest, and being honest on Wall Street is sadly a revolutionary concept.” Timothy allows his students to see his every move, creates watch lists, and allows them to learn from his mistakes and successes along with him in full transparency. Sources: http://www.timothysykes.com/ https://en.wikipedia.org/wiki/Timothy_Sykes http://www.businesswire.com/news/home/ 20131210005918/en/Veteran-Trader- Timothy-Sykes-Creates-Millionaire-Students

 




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Laura Garet

Laura is 8020 Connect’s Client Communications & Social Media Specialist. In 2014, She received her Bachelor of Communications in Information Design from Mount Royal University in Calgary, Alberta. After a couple brief positions in other marketing roles, Laura has found her home with 8020.




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