About a year ago, I won a book at Million Dollar Journey (this guy has a contest almost every week now!). The name of that book was “An American Hedge Fund”. I guess the name wouldn’t sale too much this year as several hedge funds crumble apart in 2008 😉 The book was written by a guy named Timothy Sykes. This was the story of a boy who made 2 million dollars by trading the market during the techno bubble. This boy, who was in college at that time, spent more time stock trading than anything else.
This was a great and inspirational story about a boy who followed his dream and become a rich man… in charge of his own hedge fund! I really liked the book because you could tell about Timothy’s passion from one page to another.
However, the story doesn’t stop there. I think that at his birth, Timothy Sykes was implanted a “money making sense” in his neck. While he was growing, the implant moved and connected to his brain. Now, Timothy Sykes is the perfect example of how you can use your talent to make money from multiple ways.
Sykes story doesn’t stop there. Becoming millionaire at a young age and being one of the youngest hedge fund owner/trader was not enough. Inspired by guys like John Chow, he decided to explore the world of blogging.
While I am quite happy to see the way The Financial Blogger grows, this is nothing compared to Timothy Sykes site. He actually decided to concentrate is energy in promoting products that would help small traders to earn more money out of the stock market.
His most famous product is probably his stock trading dvd series (Short Stocking, Penny Stock Trading, TIM RAW). He made a series of how to apply different stock trading techniques. I didn’t purchase any of his dvd (yet!) but I was amazed by how he transforms his main skill (stock trading) into a complete and well diversified business. If you are curious about Timothy Sykes DVD’s and learn how he trades the stock market, you can check out the following banner.
As John Chow used to do, Timothy Sykes decided to talk about his online success on his blog. So he is not only giving stock tips, but also explaining how he makes his blog one of the most productive assets of his own business. I guess that he is now making more money from his blog than from trading. Ironic, isn’t? In May, he reported a gross income of…. $150,000!!! He was kind enough to ventilate his income so we understand how he made so much from a blog (and it wasn’t from adsense! 😉 ). Then again, his stock trading lessons on DVD was his biggest income producer (80K in one month!).
When I read stories like this, I am always a bit sceptical about how much people could earn from their business. However, knowing that he wrote a book and his profit from his trades have been acknowledged by an accountant firm (in order to be able to create his hedge fund), I guess I am more willing to believe what I read on his blog. On the other side, it is always tempting to boost your income (and your stock trading dvd sales!) if you want to make more money later on. People are like sheep, they follow the leader 😉
Bonne St-Jean à tous les québecois!
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