Today, DealBreaker posted a piece that was guessed to be from Tim Sykes. Assuming it is, you will find my response to my favorite mini-trump (not a compliment) below. Even if it's not him, just replace any direct mentions of Timmay with whomever it turns out did pen the diatribe.
He said:
So, to all my naysayers out there, I say screw you! Yup, you heard me. I don’t have to be polite anymore—I’m not trying to get investors, I’m not trying to gain credibility. Everybody—and I mean everybody—in finance makes mistakes, but I seem to be the only one who celebrates them, detailing them thoroughly because they hold the keys to understanding the market.
Awwww yeah, it feels damn good to let it all out! How many of you industry insiders are insanely jealous right now? Sorry, but if you’re not willing to provide the exact details and thought processes behind all your investments, you don’t deserve to speak about them because you’re holding back...you people should be ashamed for you are cowards and frauds. It’s people like you that have made this industry so poorly understood and lacking in societal respect.
That’s right, no more Mr. Nice [redacted]—it’s disgusting that finance, our true national sport, gets such little love and respect. It’s all due to the arrogant, slimy and secretive ways of Wall Street that keeps some people wealthy and most people poor and uneducated.
This industry needs to change and [redacted] will see to that.
I say:
"So, to all my naysayers out there,"
You mean people who call your penny trading bullshit, well bullshit?
"I say screw you! Yup, you heard me. I don’t have to be polite anymore—I’m not trying to get investors, I’m not trying to gain credibility."
Screw me? For calling you out? Challenge.
The reason you're not "trying to get investors" is because no one will invest with you--not because you're not trying. The reason you're not "trying to gain credibility" is because you have proven you don't deserve any.
"Everybody—and I mean everybody—in finance makes mistakes, but I seem to be the only one who celebrates them, detailing them thoroughly because they hold the keys to understanding the market."
1) Everybody makes mistakes, not just financial gurus...most try to learn from their mistakes and better themselves to ensure they don't make them again. You, on the other hand, use them as a crutch, an excuse, a marketing tool. If a batter has a bad season he probably made some mistakes, but he doesn't quit and then proclaim "MAJOR LEAGUE BASEBALL IS MAD AT ME BECAUSE I MADE MISTAKES! THAT'S WHY I QUIT! STUPID MLB, YOU DON'T KNOW HOW BADLY YOU NEED ME!". He goes to the batting cage, fixes his swing, and tries to get better.
2) If learning from YOUR mistakes made us better by learning vicariously through you, then why can't you get better by learning first hand from your experiences.
"Awwww yeah, it feels damn good to let it all out! How many of you industry insiders are insanely jealous right now? Sorry, but if you’re not willing to provide the exact details and thought processes behind all your investments, you don’t deserve to speak about them because you’re holding back...you people should be ashamed for you are cowards and frauds. It’s people like you that have made this industry so poorly understood and lacking in societal respect."
1) Insanely jealous? Once again, challenge.
2) As BSD said, holding proprietary data secret doesn't mean you're lying, cheating or stealing...it only means you have (theoretically) found some intellectual property you wish to protect. If people could patent trading schemes they would; since you can't protect them you're only being smart to not discose them.
3) "This industry" is not poorly understood or lacking societal respect because SAC, Rennaisance, or Bill Ackman are hiding their trading/investing methods...it's because they work and everyone else's (hyperbole) don't. That's called jealousy. Wall street is hated because of deuchebags like you, amongst other reasons (too many to name).
"That’s right, no more Mr. Nice [redacted]—it’s disgusting that finance, our true national sport, gets such little love and respect. It’s all due to the arrogant, slimy and secretive ways of Wall Street that keeps some people wealthy and most people poor and uneducated."
1) See above
2) You're telling me that people are refusing to go to school, college, or read millions of investment books because wall street is secretive? I would say it's the opposite: uneducated people either a) want to learn more and do, or b) don't care. But I am pretty sure my practices aren't sending signals to others not to go to school.
Tim, all i have to say is SCOREBOARD!
