Lessons from legendary traders: “the master of macro trading” paul tudor jones

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“I believe that great success is possible in any field – from music to mathematics to macro trading.” – Paul Tudor Jones

Paul Tudor Jones is a founder of Tudor Investment Corporation, a leading asset management firm headquartered in Greenwich, Connecticut. The Tudor Group is involved in active trading and investing in assets across fixed income, currencies, equities, commodities and related derivative and other instruments in the global markets. The investment strategies of the Tudor Group include discretionary global macro, discretionary equity (long/short), quantitative global macro, quantitative equity market neutral and growth equity.

One of Jones’ earliest and major successes was predicting Black Monday in 1987, tripling his money during the event due to large short positions.
In February 2013, Forbes Magazine listed him as one of the 40 Highest-Earning hedge fund managers.

Jones about trading, top 10 quotes (source Business Insider)

• “The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.”
• “Every day I assume every position I have is wrong.”
• “Losers average losers.”
• “There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it’s the end of a bull market or the end of a bear market.”
• “The whole world is simply nothing more than a flow chart for capital.”
• “Failure was a key element to my life’s journey.”
• “Where you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your butt.”
• “I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.”
• “At the end of the day, the most important thing is how good are you at risk control.“
• “Don’t focus on making money; focus on protecting what you have.”
 
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