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The Art of Charm Podcast is where self-motivated guys and gals, just like you, come to learn from a diverse mix of experienced mentors, including the world's best professional and academic minds, scientists, relationship experts, entrepreneurs, bestselling authors, and other badasses. This show will make you a better networker, better connector, and -- most important -- a better thinker.

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397: Tim Sykes | The Penny Stock Scam

April 27th, 2015

Episode 337 of 632 episodes

Knowledge can change someone's life. "Understand there are rules to the game and you have to play by them." -Tim Sykes The Cheat Sheet: How old was he when he had his first 100k day? What to do with a penny stock tip. Why he missed his college graduation, and made $12k doing so. What's his rule when he makes a mistake? Why doesn't he like long-term bets? And so much more... If you hear the words penny stocks do you thinkWolf of Wall Streetand immediately assume anything related to those two words is a scam? Our guest for today's show, Tim Sykes, is here to dispel those myths and misconceptions. He's a passionate teacher and educator on penny stocks and he's made a killing in the process. Listen in for all of that and moreon episode 397 of The Art of Charm. Click Here to Support The Show and Check Out Host Gator! More About This Show: Whether you love him or hate him one thing is certain: Tim Sykes is a passionate man. He has hundreds of free videos on his YouTube channel helping people understand the intricacies of penny stock trading. When you see his Lambo you might write him off as simply a flashy personality, but pay attentionand you'll hear a man of conviction and integrity on a quest to help educate the masses. Tim's journey into penny stock trading started when he was still in high school. His parents gave him his bar mitzvah money (around $12,000) early hoping to teach him the value of a dollar. After having Tommy John surgery on both of his arms, he had nothing else to do but heal and play the stock market with that $12k. By the end of his freshmanyear of college he had taken that $12k and made a million dollars. By the time he graduated college he had amassed nearly $2 million! How did he do it?He bets against guys like Jordan Belfort and their pump and dump scams. The pump and dump penny stock scams like you see inThe Wolf of Wall StreetandBoiler Roomwork like this: the scammers issue themselves stock in the company they're going to promote, then marketthe heck out of it to ratchet up the price, get other people to buy in who don't know about the scam (the average public) and then the insiders sell their shares before the stock plummets and the average public loses their investment. On today's show he explains how to do your due diligence before acting on any penny stock tip (or any stock tip for that matter). A few of his tips are to check the Yahoo Finance page, read the press releases about this stock and then compare them with the SEC filings which you can find on OTCmarkets.com and also read the disclaimers on any email or advertisement. If the person who emailed you discloses they own stock (and they must, it's the law) that's a big red flag. Today we also go intogreat detail on other tells to look for about these scams, his rules for playing the game and some real-life wins & losses he's experienced. Please join me in thanking Timfor being here and sharing his wisdom and passion on today's episode. We'll see you next time on The Art of Charm! THANKS TIM SYKES! If you enjoyed this session of The Art of Charm Podcast, let Timknow by clicking on the link below and sending him a quick shout out on Twitter: Click here to thank Timon Twitter! Resources from this episode: Tim Sykes' web siteTimon TwitterNo Borrow No Cry: A Penny Stock Short Seller's anthemThe Art of Charm bootcamps Click Here to Get A FreeAudiobook From Audible! Also sponsored by: You'll also like: -The Art of Charm Toolbox-Best of The Art of Charm Podcast Wanna leave a comment? Too bad!Email meinstead (we read everything)! HELP US SPREAD THE WORD! If you dug this episode, please subscribe in iTunes and write us a review! This is what helps us stand out from all the fluff out there. Ways to subscribe to The Art of Charm Click here to subscribe via iTunes Click here to subscribe via RSS You can also subscribe via Stitcher FEEDBACK + PROMOTION Hit us up with your comments and guest suggestions. We read EVERYTHING. Download the FREE AoC app for iPhone Email [email protected] Give us a call at 888.413.7177 Stay Charming!

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