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Paul Tudor Jones Biography

Paul Tudor Jones II (born September 28, 1954) is an American investor, hedge fund manager, and philanthropist. In 1980, he founded his hedge fund, Tudor Investment Corporation, an asset management firm headquartered in Greenwich, Connecticut. Soon after, he created the Tudor Group, a hedge fund holding company that specializes in fixed income, currencies, equities, and commodities.

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Paul Tudor Jones Quotes

That cotton trade was almost the deal breaker for me. It was at that point that I said, “Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?

Everything, Happiness, Pain, Pursuit Of Happiness, Stupid

And then at the end of the day, the most important thing is how good are you at risk control. Ninety-percent of any great trader is going to be the risk control.

Control, Good, Important, Risk, The End Of The Day

If trading is like chess, then macro is like three-dimensional chess.

Chess, Like, Macro, Three

Intellectual capital will always trump financial capital.

Capital, Financial, Intellectual, Intellectual Capital

You can achieve great economic gains by solving social problems.

Gains, Problem, Economic, Achieve, Social

I always believe that prices move first and fundamentals come second

Believe, Come, Fundamentals, Moving, Prices

The whole world is simply nothing more than a flow chart for capital.

Flow, Whole, World

Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your ass. That's why most people lose money as individual investors or traders because they're not focusing on losing money. They need to focus on the money that they have at risk and how much capital is at risk in any single investment they have. If everyone spent 90 percent of their time on that, not 90 percent of the time on pie-in-the-sky ideas on how much money they're going to make, then they will be incredibly successful investors.

Foremost, Ideas, People, Pie, Successful, Wishing

I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have

Focus, Losing, Making, Money, Thinking

Fundamentals might be good for the first third or first 50 or 60 percent of a move, but the last third of a great bull market is typically a blow-off, whereas the mania runs wild and prices go parabolic. . . 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.

Blow, Fundamentals, Moving, Prepare, Running, Trading

I believe that great success is possible in any field — from music to mathematics to macro trading.

Believe, Field, Fields, Macro, Mathematics, Trading

You learn more from your losses, than from your gains.

Gains, Learn, Loss, Losses, Your Loss

As I've told my three daughters, all of whom I've at one time encouraged to go into macro trading, any man or woman can do anything to which they set their heart and mind.

Daughter, Heart, Men, Mind, Told, Woman

Don't be a hero. Don't have an ego.

Hero, Ego

Don’t ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well. Never trade in situations where you don’t have control. For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading.

Average, Gambling, Keys, Risk, Significant, Situations

First if all, never play macho man in the market. Second, never overtrade. My major problem was not the number of points I lost on the trade, but that I was trading far too many contracts relative to the equity in the accounts that I handled.

Handled, Market, Men, Numbers, Play, Trade

Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that you are very good. The second you do, you are dead.

Ability, Ego, Good, Hero, Question, Very Good

We have ripped the humanity out of our companies. It's threatening the very underpinnings of our society.

Humanity, Our Society, Society, Threatening, Underpinnings

The concept of paying one-hundred-and-something times earnings for any company for me is just anathema. Having said that, at the end of the day, your job is to buy what goes up and to sell what goes down so really who gives a damn about PE's?

Buy, Day, Giving, Jobs, Said, The End Of The Day

After a while size means nothing. It gets back to whether you're making 100% rate of return on $10,000 or $100 million dollars. It doesn't make any difference.

100, 10000, Differences, Dollars, Gets, Mean

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