“In many ways, the work of a critic is easy. We risk very little yet enjoy a position over those who offer up their work and their selves to our judgment. We thrive on negative criticism, which is fun to write and to read. But the bitter truth we critics must face, is that in the grand scheme of things, the average piece of junk is probably more meaningful than our criticism designating it so.” Peter O’Toole as Anton Ego in Ratatouille
I recently joined the Timothy Sykes Millionaire Challenge which you can read about here if you are interested in an in depth moment to moment journey. In case you didn’t know, part of the required homework (research) is reading the self published book An American Hedge Fund after being accepted in the challenge.
After finishing the book I thought I would shed some light for those thinking about learning or joining Tim Sykes and his team.
First let me say that this book review is NOT based on good and bad. That wouldn’t benefit you (the reader of this blog), Tim Sykes or me to label it as such. I can safely say if you are planning a career outside of finance such as fashion or gardening then “An American Hedge Fund” is not the book for you. However, if you are thinking about finance, banking, trading or making money in related fields then this book is a MUST read.
An American Hedge Fund is a very insightful, funny and truthful journal of Tim Sykes’ life. More specifically the chronology of life events of stock trading. He finely details his struggles, unforgivingly brags about his successes and pleads with you to learn from his mistakes.
Everyone makes mistakes. Even if you do years or research you will make mistakes. Mistakes are what make us better and stronger in the long run. That is why the theme that makes this book a MUST read is learn from his mistakes. Let me restate. If you are thinking about joining Tim Sykes or learning from him I highly suggest you read his book An American Hedge Fund first. It will give you a great sense of risk taking, greed and ugliness that he has put himself through. It will showcase his struggle for control, obsession with money and ever longing hunger for attention. His journey although exciting at times was very dark, sad and down right depressing (in my opinion). In essence stock trading is an emotional roller coaster that can get out of control extremely fast “if you don’t have discipline”.
Timothy Sykes lived the hard part then shed his ego and wrote about it. It’s our job to become disciplined and learn from the successes and more importantly the mistakes to become the best trader we can be.
An American Hedge Fund is a quick read. Do yourself a favor and read it first. It will save you a lot of time, money and financial pain later. Pick up a copy here.