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The Geniousness of Paul Tudor Jones
- Thread starter etfarb
- Start date
Quote from Swan Noir:
Not even a minnow ... a tiny minnow. He's a guy that has put himself in a number of highly leveraged semi-liquid positions and been screwed. Usually by himself!
When you are small and competing against the best in the world whales, it demands more risk than normally would be prudent-- otherwise, your competitors would eat you alive.
surf
Quote from etfarb:
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.
I suppose you could say being handed the biggest order book in the industry is a "talent" but I think even Mr. Jones would choose being lucky over being talented, if forced to.
Quote from marketsurfer:
When you are small and competing against the best in the world whales, it demands more risk than normally would be prudent-- otherwise, your competitors would eat you alive.
surf
You are saying that a portfolio manager with 500MM AUM is required to take imprudent risks and your job is to raise capital for hedgefunds
Wow.
Quote from chasinfla:
I suppose you could say being handed the biggest order book in the industry is a "talent" but I think even Mr. Jones would choose being lucky over being talented, if forced to.
Luck runs out and talent always fails you at the wrong time. I personally would choose <i>managing risk</i> over either of those two.
Quote from Ash1972:
Surf, if there is one message you could take away from this thread, it is that PTJ's approach to trading is pretty much the TOTAL OPPOSITE to what VN does.
Are we communicating here?
I don't know PTJ and have no idea how he is trading now. Last I heard, his chief TA guy is no longer part of the team but that was 20 years ago. Do you have insight on how PTJ is trading now? Not some interview from 1987 or movie from the last century?? thanks!
Quote from newwurldmn:
You are saying that a portfolio manager with 500MM AUM is required to take imprudent risks and your job is to raise capital for hedgefunds
Wow.
I'll forgive you for not understanding--- many people do not.
It depends on your investors. Hedge Funds are not grandma's pension plan or some day traders bill paying stash. They are also not designed for retired dentists or doctors with $3 million to their name and the need for income from this amount. Hedge funds are designed for ultra high net worth investors to deploy a portion of their capital--- sometimes these folks want to take big risks for a chance at a big return with a part of their portfolio-- nothing imprudent about risk-- it is needed to make outsized returns year after year. The bad thing about risk, is it can cut both ways--- but it is a must to make big gains.
surf