He is known for being the founder of the Tudor Investment Corporation an asset management firm headquartered in Greenwich, Connecticut which manages $17.7 billion (as of June 1, 2007).
He is also the founder of Robin Hood Foundation (which alleviate problems associated with poverty in New York) Jones has an estimated net worth of US$4.7 billion, making him the 120th richest person on the Forbes 400 (February 2017) and the 22nd highest-earning hedge fund manager. In February 2013, Forbes Magazine listed him as one of the 40 Highest-Earning hedge fund managers.
Paul Tudor Jones graduated from Presbyterian Day School. He earned a degree in economics from the University of Virginia in 1976. He also won a welterweight boxing championship that year.
Jones began his career in 1976 on the trading floors as a clerk and then became a broker for E.F. Hutton & Co. He then applied to Harvard Business School, was accepted, and dropped out because he believed that business school would not teach him anything relevant. “This skill set is not something that they teach in business school,” said Jones.
Paul Tudor Jones was then hired and mentored by Eli Tullis a commodity broker at the New York Stock Exchange Jones later said of Tullis.
“He was the toughest son of a bitch I ever knew. He taught me that trading is very competitive and you have to be able to handle getting your butt kicked. No matter how you cut it, there are enormous emotional ups and downs involved”.
In 1980, Paul Tudor Jones founded Tudor Investment Corporation, an asset management firm headquartered in Greenwich, Connecticut.
One of Jones’ earliest and major successes was predicting Black Monday in 1987, tripling his money during the event due to large short positions.
Jones said Borish anticipated the crash in 1987 because Borish had mapped the 1987 market against the market preceding the 1929 crash, and noted the similarity between the two markets.
Paul Tudor Jones also served as chairman of the New York Cotton Exchange from August 1992 through June 1995.
Paul Tudor Jones is founder of the Tudor Investment Corporation an asset management firm which manages $17.7 billion (as of June 1, 2007).
He has an estimated net worth of US$4.7 billion, making him the 120th richest person on the Forbes 400 (February 2017)
INVESTMENT STYLE
Paul Tudor Jones’s global macro trading style is based primarily on technical analysis, as opposed to value investing, with an emphasis momentum factors driving markets
Paul Tudor Jones is a contrarian. He attempts to buy and sell turning points. A large part of his fortune was made in the crash of 2008. He considers himself as a premier market opportunist. When he develops an idea, he pursues it from a very-low-risk standpoint until he has been proven wrong repeatedly, or until he changes his viewpoint. He also swing trades where big profits are made at the market turns. He cuts his losing position when he feels uncomfortable. Key is to play great defense, not great offense. He has mental stops. If it hits that number, he is out no matter what. He uses not only price stops, but time stops.
He believes prices move first and fundamentals come second.
Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Paul Tudor Jones (a world top trader) recommends that you remain humble.
Don’t ever feel that you are very good. The second you do, you are dead – Paul Tudor Jones
LEARNING RESOURCES
Paul Tudor Jones is a recluse. He avoids the media.
But he has recently come out and said that this chart should terrify the Fed.
In 1987, PBS produced a documentary entitled ‘Trader’ which focused on Jones’s activities. The film shows Paul Tudor Jones as a young man predicting the 1987 crash, using methods similar to market forecaster Robert Prechter. Although the video was shown on public television in November 1987, few copies exist
This skill set is not something that they teach in business school – Paul Tudor Jones
CONNECT WITH INVESTOR
Follow this World Top Investor via their various social media channels and read more about their background and current investment interests on their official website:
Paul Tudor Jones
www.tudorfunds.com
