Paul Tudor Jones

Paul Tudor Jones

Macro trading legend, founder of Tudor Investment, famous for predicting the 1987 crash

48 principlesGlobal MacroUSABorn 1954
"The secret to being successful from a trading perspective is to have an indefatigable thirst for knowledge."

About Paul Tudor Jones

Paul Tudor Jones II (born September 28, 1954) is an American billionaire hedge fund manager and philanthropist. He founded Tudor Investment Corp in 1980, which has grown into one of the world's leading macro hedge funds managing over $11 billion in assets. Jones is best known for predicting and profiting from the 1987 stock market crash, reportedly tripling his money during that period. His trading style combines macro analysis with technical trading, emphasizing risk management and capital preservation. His investment approach focuses on identifying major market turning points and economic trends. Jones is famous for his trading rules, including "Losers average losers" (never add to a losing position) and the importance of always knowing your risk. Beyond investing, Jones founded the Robin Hood Foundation in 1988 to fight poverty in New York City, which has become one of the largest poverty-fighting organizations in the United States.

Investment StyleGlobal Macro, Technical Trading, Risk Management, Trend Following
Key PhilosophyDefense First, Never Average Down, Market Timing, Risk Control, Capital Preservation
Notable HoldingsMacro Positions, Futures, Currencies, Equities
Books & WritingsMarket Wizards (featured interview)

Core Investment Principles

Defense First

Dont focus on making money; focus on protecting what you have. Playing great defense means youll be around to play offen...

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Control Your Emotions

Every day I assume every position I have is wrong. This removes the ego from trading. Never fall in love with a position...

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Timing Matters

Being right about direction is not enough; you must be right about timing. A great idea at the wrong time is a losing tr...

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Price Action is Truth

At the end of the day, the market tells you whether youre right or wrong. Listen to price action, not your thesis.

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Asymmetric Bets

Look for trades where the upside is many times the downside. 5:1 reward-to-risk ratios mean you can be wrong most of the...

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Browse Paul Tudor Jones's Principles by Topic

Risk Management3 principlesInvestment Psychology3 principlesLife Wisdom3 principlesValue Assessment3 principlesMargin of Safety3 principlesCircle of Competence3 principlesInvestment Philosophy3 principlesBusiness Quality3 principlesMarket Psychology3 principlesLong-Term Investing3 principlesBuying Principles3 principlesSelling & Review3 principlesMental Models3 principlesBusiness Judgment3 principlesStock Picking3 principlesThinking Methods3 principles

Famous Quotes

"Don't be a hero. Don't have an ego. Always question yourself and your ability."
"Losers average losers."
"The most important rule of trading is to play great defense"
"not great offense."
"Where you want to be is always in control"

Similar Masters

George SorosGeorge SorosLegendary speculator, founder of Quantum Fund, known for "breaking the Bank of England"Jesse LivermoreJesse LivermoreLegendary stock speculator, pioneer of tape reading and trend followingRay DalioRay DalioPrinciples-Based InvestorStanley DruckenmillerStanley DruckenmillerFormer lead portfolio manager for Soros, macro trading legend with unmatched track record