The Geniousness of Paul Tudor Jones

[etfarb]

Quote from chasinfla:

Not only was he mentored: he worked in the Cotton ring. And when you stand in the ring with cash business, everyone is at your beckon call.

It's hard to screw up a tailwind like that, but I suppose it's possible. What he's gone on to do, though, proves that he has a particular talent for what does.

Plus they say he's a genuinely good person.

PTJ defiantly had a leg up compared to others when he entered the biz but that dosn;t mean much since trading is sheer talent of an individual. He is hands down one of the best traders to walk this planet period. The reason i started this thread was mainly to talk about his style of trading in todays era of trading. He use to be a floor trader and just recently in one of his press releases his group opened a quant fund that is based on his days on the floor... Its not secret that if you can profitably trade on a short time scale you'll do better than a swing trader, the problem is "if you can"

I'm not sure if any one is familiar with peter warrens fund but once again he is a former floor trader that only takes positions intraday and closes everything by day end...

I'm a big propenent of systematic trading but the main reason i wanted to open this thread was to get some of the discretionary traders to chime in. If anyone has seen the PTJ documentary theres a scene where he's taking a short on the NZD i believe on a saturday. This is in the 80's before all these fancy charting systems were around. What were his reasons for entry on a trade like that on such a short time frame. From what i gather PTJs style of trading goes under the category of orderflow which is really hard in todays trading world. but if anyone is an "orderflow" trader either systematically or discretionarily, i'd love for you to chime in on this thread

 

[Josef K]

Quote from etfarb:

If anyone has seen the PTJ documentary theres a scene where he's taking a short on the NZD i believe on a saturday. This is in the 80's before all these fancy charting systems were around. What were his reasons for entry on a trade like that on such a short time frame.

I believe you're referring to this:

http://www.youtube.com/watch?v=dWbl9TbAZHg#t=15m40s

It's early Sunday evening and he's selling Deutsche Marks because he's betting the dollar is going up. The dealer he's speaking with is in New Zealand. The time frame for the trade appears to be at least a day and it's not clear if the trade is based on technical or fundamental reasons.

 

[etfarb]

Quote from Josef K:

I believe you're referring to this:

http://www.youtube.com/watch?v=dWbl9TbAZHg#t=15m40s

It's early Sunday evening and he's selling Deutsche Marks because he's betting the dollar is going up. The dealer he's speaking with is in New Zealand. The time frame for the trade appears to be at least a day and it's not clear if the trade is based on technical or fundamental reasons.

This is exactly what i was referring to. PTJ in a lot of ways reminds me of Victor Niederhoffers trading method only in the 80s (i.e that video and trade )- i'm sure his decision making process is a lot more loose than whatever voodoo VN uses

 

[marketsurfer]

Quote from etfarb:

This is exactly what i was referring to. PTJ in a lot of ways reminds me of Victor Niederhoffers trading method only in the 80s (i.e that video and trade )- i'm sure his decision making process is a lot more loose than whatever voodoo VN uses

Does anyone have a year by year PTJ performance record? He clearly became a wealthy man from fees --- just how is his overall performance from an investors viewpoint? Thanks in advance. surf


PS--- it's totally silent in VNs trading room, no yelling or screaming. In fact, it's so quiet the traders communicate via instant msg/email rather than speak to each other. Once I heard show tunes playing but otherwise is perfectly quiet with a sign on the door " you are entering holy ground, remove your shoes". Very cool.


surf

 

[etfarb]

Surf...

You use to work for Victor!?

Quote from marketsurfer:

Does anyone have a year by year PTJ performance record? He clearly became a wealthy man from fees --- just how is his overall performance from an investors viewpoint? Thanks in advance. surf


PS--- it's totally silent in VNs trading room, no yelling or screaming. In fact, it's so quiet the traders communicate via instant msg/email rather than speak to each other. Once I heard show tunes playing but otherwise is perfectly quiet with a sign on the door " you are entering holy ground, remove your shoes". Very cool.


surf

 

[oldtime]

track record is everything

no track record

just bullshit

my investing is not too bad

up over 1000% since 1988

trading is a different matter

up maybe 68% in 2012

down so far about 38% in 2013

 

[newwurldmn]

Quote from marketsurfer:



PS--- it's totally silent in VNs trading room, no yelling or screaming. In fact, it's so quiet the traders communicate via instant msg/email rather than speak to each other. Once I heard show tunes playing but otherwise is perfectly quiet with a sign on the door " you are entering holy ground, remove your shoes". Very cool.


surf

They say SAC's floor is the same way. They even muffled the computer fans.

Perhaps its easier to hear the blue horse shoe whispers that way...

 

[atticus]

Quote from marketsurfer:

Does anyone have a year by year PTJ performance record? He clearly became a wealthy man from fees --- just how is his overall performance from an investors viewpoint? Thanks in advance. surf


PS--- it's totally silent in VNs trading room, no yelling or screaming. In fact, it's so quiet the traders communicate via instant msg/email rather than speak to each other. Once I heard show tunes playing but otherwise is perfectly quiet with a sign on the door " you are entering holy ground, remove your shoes". Very cool.


surf

23% average annual return (recorded in 2009) from inception in 1980.

 

[marketsurfer]

Quote from atticus:

23% average annual return (recorded in 2009) from inception in 1980.

How about year by year since 1986 I imagine he has had 100% plus years but what drawdowns? surf

 

[atticus]

Quote from marketsurfer:

How about year by year since 1986 I imagine he has had 100% plus years but what drawdowns? surf

No idea, but he had not recorded a down year until 2008, I believe.