Timothy Sykes, star of the TV show 'Wall Street Warriors', today announced the closing of his hedge fund, the Cilantro Fund, in order to educate the public about financial speculation and hedge funds. To do this, he has launched BullShip Press, whose aim is to create products that cut through all the BullShip on Wall Street. Bullship Press announced the immediate international availability of Mr. Sykes' debut book, 'An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund'.
New York, NY (PRWeb) October 2, 2007 -- On October 1, Timothy Sykes announces the closing of the Cilantro Fund, the hedge fund he started in March 2003. October 1 is a sort of Independence Day for Sykes, when free from the shackles of industry regulations he's finally able to detail his stock trading and hedge fund experiences - to help others learn from his successes and failures. What's more, October 1 marks the official release date for Sykes's startlingly confessional new book, AN AMERICAN HEDGE FUND: How I Made $2 Million as a Stock Operator and Created a Hedge Fund (BullShip Press; ISBN 0979549701), a book he hopes will promote more transparency within the hedge fund industry. SEC regulations prohibit hedge funds from advertising, talking to the press and detailing their businesses to anybody worth less than $1 million. Sykes proclaims, "This has created an environment ripe with manipulation and ignorance, causing trillions of dollars in unnecessary losses. Instead, wealthy and non-wealthy investors alike should be free to learn about hedge funds and the speculative strategies they employ so everyone can practice safer and more profitable investing."
In AN AMERICAN HEDGE FUND, the twenty-six year old Sykes recounts how he turned $12,415 of Bar Mitzvah gift money into $1.65 million as a momentum trader in the penny stock arena before going on to start his own hedge fund, which would become the #1 Ranked Short Bias Hedge Fund for 2003-2006 by Barclays. Yet Sykes, a self-effacing and unpretentious Jewish kid from Orange, Connecticut, is no shark. In fact he remained largely unaware that the volatility patterns he was profiting by early on were largely generated by the pump and dump tactics hatched in now notorious boiler rooms.
For those who know Sykes from his TV show as the bathrobe clad day trader who shatters an electric fan after a particularly sour trade, Sykes' candor in AN AMERICAN HEDGE FUND comes as no surprise. While at Tufts and later Tulane, Sykes recounts how his trading activities earned him notoriety if not friends. His stubbornness and dedication to his pursuit of the American dream are constant throughout and it's evident that he tells it like he sees it, no matter what others think.
His fascinating account of the trader's tireless search for windows of opportunity, successful (and usually fleeting) trading strategies that arise from herd behavior, market psychology, and the deep wells of irrationality that play a major role in today's volatile stock market, continues to earn him the respect of fellow traders and investors at all levels of the market. His informative play-by-play account serves as both a cautionary tale about how easily even the most disciplined investors can be led off course as well as serving as an existential thought piece on the merits of devoting one's youth to the pursuit of wealth. Spencer Jakab of the Dow Jones Newswire recently said, "There's certainly a dash of Holden Caulfield to Sykes, but there's an equal part Larry Livingston, the trader in Edwin Lefvre's classic 'Reminiscences of a Stock Operator'…To round out the package, there's a good bit of James Cramer in Sykes, too."
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