A native of Chicago, Tim, a young man of just 24 years old, manages to change his $ 1,500 into more than $ 1 million through a series of high-risk investments.
During his studies, is looking for a way to quickly and easily raise large sums of money. He turns to the game, without worrying too much about the time bomb he activates. The luck with which the young man is provided evaporates after some time: he loses $ 9000 in a bad bet. After reassessing the options available to him, decides to trade games of chance to try his luck on the stock exchange.
His career in the financial world looks unattractive
He loses virtually all of his first investment. Realizing the insufficiency of his knowledge, he seeks a mentor. It is then that he falls on the story of Tim Sykes, the young prodigy who, at age 22, invested $ 12,415 of his bar mitzvah. Now a twice millionaire, Sykes teaches, on the net, his techniques and financial theories.
He also founded a community of 400,000 fellows to promote the free exchange of information and analysis of financial journals. Grittani studies Sykes’ theories before embarking a second time. The new goal of the young man can not be achieved without a base bet amounting to $ 12,500, a sum he does not have. He is contren to borrow from his entourage provided he only risk his own contribution, $ 1500.
The increased security of long-term investments is out of his reach
He has no choice but to fall back on the very small companies whose shares sell for less than one dollar. For three years, Grittani spends entire days in front of his computer screen, trying to move his money at the right time. Investments of this nature are known to be particularly risky.
These small companies are often prey to a phenomenon called ” pump and dump “. Investors buy a considerable number of shares at very low cost, create a media buzz around the company, then sell their shares, generating a large profit. If Grittani succeeds in getting rich thanks to these same companies, it is because he knows how to spot the increase in stock market activity before it peaks.
He therefore manages to buy shares before the mass seizes them and resell them before the fall in their value. Sometimes it only takes a few minutes to make a substantial profit, as is the case of his first great success. Six months after his first investment, Grittani placed $ 3,000 in the company Amwest Imaging (which took the name of Intertech solutions). After ten minutes, he sells his shares, enjoying a profit of 70%. The highest gain for the young man is $ 215,000 for a single day of “work”.
This kind of investment does not suit everyone
Especially not people who want to secure their future. Given the unstable nature of the market, a course like Grittani’s or Sykes’ is a lot like a casino, you have to play hard enough to risk it. Yet according to Sykes and his followers, the low-cost stock market responds to certain observable patterns as long as the rules are known.
Tim Grittani himself does not intend to follow this path indefinitely. He still agrees two years to raise his personal fortune above the million, and then intends to leave the field to travel.