Book Review: Wall Street Smarts: A Guide to Finding Your Inner Investor


wall-street-smarts-miles-goodwinWall Street Smarts: A Guide to Finding Your Inner Investor, by Miles Goodwin, is masterful compilation of the best investment advice for the average person. The book does the seemingly impossible by pulling together the best investment advice from the best books out there. Mr. Goodwin has done the hard work so you don’t have to. He has taken decades of investment research and experience (as an average person just trying to manage his own money) and extracted the most relevant advice from some of the most knowledgeable authors. Added to this material is a wealth of information he has accumulated over the years.

Where does the average person begin when trying to learn about investments? There are lots of great articles and books out there, but how do you figure out which ones are relevant and accurate? And how do you find the time to read all of them? Simply put, most people can’t. And that’s why Wall Street Smarts is an invaluable tool for anyone who wants more control over their savings and investments. Continue reading

From Parent’s Basement to Millionaire


When Tim Grittani was sitting in his parents basement starting to trade with his puny $1,500 trading account do you think he had any idea would be a millionaire trader just three years later? I doubt it. Before you have that kind of success you usually don’t believe it’s really possible. Or you believe it might be possible for other people but not for yourself.

But he did have one other thing. And that made all the difference. His mentor Timothy Sykes shares what is in in this video. Click here to watch it now.

Sykes says there was one quality present in both his students who became millionaire traders. And it was a quality he himself had when he started trading with just $12,415 to his name.

He says that ultimately this quality is what separates the winners from losers in trading.

I’d love to hear what you think: Click here to watch this quick video.

These 5 Steps Delivered $1.65 Million in Stock Trading Profits


In this video, Tim Sykes shows the 5-step stock selection process he used to make his first million trading small stocks. This is the exact process Tim used before he got famous. In fact, this process is what made him famous because it turned $12,415 in Bar Mitzvah money into $1.65 million in real-money trading profits. Click here to get his process now.

By now you probably know Tim is NOT one of the hordes of lightweight, one-hit wonder “gurus” peddling courses online these days. He’s the real deal and not just because of his years on top of the hedge fund lists or being featured in magazines.

He’s also… Continue reading

More on the Tim Sykes Millionaire Trading Challenge


steal-moneyIn the last couple of days, I have had an email exchange with a purported journalist who is interested in the Timothy Sykes Millionaire Trading Challenge. Because I’ve written about Tim’s Trading Challenge before, he wanted to ask me some questions. The writer is interested in doing a negative piece on Tim and students, and since I’m a forensic accountant in the trading challenge, he thought I could provide some information.

He wanted to know if I have done a formal investigation of Tim Sykes, have reviewed his brokerage statements to verify his trades, or verified the returns of Tim’s students. The answer to all of these questions is NO. Why have I not investigated Tim and his students? No one has retained me to do so. Continue reading

Tim Grittani, Fellow Marquette Alumnus, Makes $1 Million Trading Penny Stocks


Tim Grittani, a student in the Timothy Sykes Millionaire Trading Challenge, hit the $1 million profit mark a few weeks ago.

Grittani graduated with a finance degree from Marquette University, my alma mater (and the university at which I am now teaching Fraud Examination to graduate students), and started trading penny stocks with $1,500.  In less than three years, Grittani turned his $1,500 into more than $1 million.

See Sykes and Grittani appearing on Fox & Friends today:

Getting Started in the Tim Sykes Millionaire Trading Challenge


Earlier this year I wrote about being a part of the Timothy Sykes Millionaire Trading Challenge. I signed up in March, and have been learning Tim’s core strategy (shorting penny stock pump and dumps) as well as other strategies (he and his instructors also teach other ways to trade, so students don’t have to rely solely on trading penny stocks).

There is a lot of material to get through, and it can be overwhelming at first. Where do students start? Here are my recommendations:

  1. This “syllabus” outlines what is on each of the DVDs. It is very helpful if you are looking for specific information.
  2. One of Tim’s students put together this checklist, which summarizes Tim’s trading strategy and the most important chart patterns. Keep this handy. Continue reading

Timothy Sykes: Millionaire Trading Challenge


I recently joined the Trading Challenge being run by Tim Sykes. I introduced you to Timothy Sykes in 2008 when I reviewed his book An American Hedge Fund. He took about $12,000+ that he got for his Bar Mitzvah, and turned it into $1.65 million as a young high school and college student.

And then he did it all over again… Starting with the same amount in 2008, and growing it again just to prove that he can profit from the stock market without a huge capital base to start.

For several years, Tim has been teaching students how to trade using his core strategy. The strategy involves short selling  penny stock pump and dumps. He finds penny stocks (defined as trading at less than $5 per share) that are worthless at the core. The companies are shams, which generally tout some amazing product or service, but have no revenue, no profits, and often no real operations. Continue reading

Timothy Sykes Calls Foul, Shaq and His Lawyer Cry


shaqTimothy Sykes is a fantastically successful blogger, penny stock trader, and educator. He makes a living by teaching people how to recognize “pump and dump” schemes by penny stock promoters… and then short those stocks for a profit. They make money when the price of the stock they’ve shorted goes down… which is inevitable if you can identify a stock that is all hype and no substance.

What is a pump & dump? Essentially the promoters of a virtually worthless stock (worthless, because the company is a sham of some sort) do mass mailings of marketing materials. This is the pump. They hype a company with false and misleading information, hoping to interest people in buying the stock (taking long positions). As those people start buying up shares, the price of the stock rises rapidly. While this is happening, people who previously held the stock start selling (at an inflated price, thanks to the all the buying activity generated by their hype). This is the dump. The people selling make a ton of money on their stock. Continue reading

Huffington Post Writes about Tim Sykes and His New Website


The Huffington Post ran a really nice story about the one and only Timothy Sykes today. Tim just rolled out a new website, which is kind of a portal for everything related to stock trading. Of course he peddles his book and DVD set there, but he also details his stock trades and teaches others his methods.

Tim is notorious for being arrogant and flamboyant. I see it mostly differently: He has a total passion for what he does and stands up for what he believes in. He is trying to teach others about his craft (shorting penny stocks) and although some may disagree with that as a trading strategy that can work for the common person… I give him kudos for believing in the strategy and teaching others about it accordingly. Continue reading

Timmay as Fraudbuster?


Penny stock trader, author, entrepreneur Timothy Sykes (aka Timmay) has put on his little detective hat and found a fraud in progress. Being promoted by none other than CNBC “reporter” Sri Jegarajah. Timmay makes an excellent point…. Networks like CNBC aren’t about serious news or reporting. They’re about entertainment and advertising dollars.

And by not being skeptical about the stories they’re “reporting,” they are doing a huge disservice to all those who think that they’re credible just because they’re called CNBC. But the CNBC guy made a huge mistake… he somehow took the words of a paid promoter and thought that this was credible research.

Here’s a snippet of what Timmay had to say… great research… and apparently not all that hard for anyone who bothered to look. Continue reading