I had pre-ordered Tim Sykes‘ An American Hedge Fund a while back, I received it late September and finally got around to reading it all this weekend.
Tim is the trader who started Cilantro Fund Partners LP from capital he made on the market. He started trading the $12,415 from his Bar Mitzvah and turned it into $1.65 million between 1999 and 2002, managed his short bias hedge fund from 2003 to 2006 and starred in the TV documentary Wall Street Warriors on MOJO.
Tim’s book was very entertaining. It is loaded with anecdotes about his life, his trading and his decisions. With the trades and the decisions, he took pride in highlighting the good but took no shame is also highlighting the bad. It make the book a great insight into his life and his passion, the stock market.
I did not always agree with Tim’s underlying message on how SEC regulation on hedge fund publicity and advertising can prevent small guys from succeeding. Although it is nice to help smaller players, I think the SEC does have a key role in protecting the general public and the field of investors. But it took nothing away from the book. The last chapter alone, “Lessons Learned”, is a goldmine of facts Tim learned the hard way and is now sharing with the readers.
I would recommend the book to anyone interested in the market. Do not look for precise recipes for success shorting Pink Sheets and Bulletin Board stocks but keep an open mind and you will learn plenty from a fellow trader.