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Paul Tudor Jones: A magical moment in a great documentary

The documentary is a fascinating and brief slice in the work life of Paul Tudor Jones, one of America’s all time great macro traders.
There’s this one moment that really stands out to me, where Jones, after losing about 5% of his portfolio in a single terrible trading day (at that time, ~$6M dollars), says this:

I mean, it makes sense, but then again…?
Wednesday October 28, 2020

In short, the bank is already and at all times bankrupt; but its bankruptcy is only revealed when customers get suspicious and precipitate “bank runs.” No other business experiences a phenomenon like a “run.” No other business can be plunged into bankruptcy overnight simply because its customers decide to repossess their own property. No other […]

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“The money’s irrelevant but it’s the whole concept of having analysis that’s just so completely off the mark. It’s a mental blow, it’s an intellectual blow, and it’s part of the business. This is going to happen a thousand times in the next five years to me, so it’s just something you learn to live with. I hate it.”

We made a newsletter for all things digital art, crypto art, and NFTs
Wednesday January 13, 2021

Steven and I are fascinated with the growth and innovation happening in the digital art and crypto art space, so we started a newsletter. You can signup here: https://fatcatfund.substack.com/ Here’s the latest issue: https://fatcatfund.substack.com/p/banksy-entering-nft-issue-3 And here are some topics we discuss: -Exciting projects in the space from Niftex (NFTX) to Axie Infinity to Aavegotchi -Great […]

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Talk about timeless advice.
First, his focus on PROCESS and ANALYSIS instead of outcome.
Second, his mental preparation for future pain. On the heels of a terrible performance, he reminds himself that this is going to happen 1000 MORE TIMES in the next 5 years.
Pretty remarkable. I encourage you to watch it, as he’s apparently known for trying to remove publicly available copies of this documentary.