When he was just a teen, Timothy Sykes took his approximately $12,000 in bar mitzvah gift money and turned it into $1.65 million. In his 20s, he founded a hedge fund worth several million dollars. Timothy talks with Jean about his success and about his book An American Hedge Fund.
In his book, Timothy takes a realistic look at the world of stock trading and startup hedge funds, detailing the process of how he grew a small amount of money into millions. Timothy also talks about the difficulties facing emerging hedge fund managers.
Timothy says it's important to be cautious with your finances. "I'm preaching conservative financial speculation," he says. "It is risky, it's very scary. I've lost hundreds of thousands of dollars in a day."