Paul Tudor Jones bigraphy, stories - American hedge fund manager and investor

Paul Tudor Jones : biography

28 September 1954 -

Paul Tudor Jones II (born September 28, 1954), is the founder of Tudor Investment Corporation, which is the management company for his various private investment partnerships, also referred to as hedge funds. As of March 2011, he was estimated to have a net worth of USD 3.3 billion by Forbes Magazine and ranked as the 107th richest American and 336th richest in the world. In March 2012, Jones ranks No. 330 on the list of the world’s wealthiest people. The industry standards are two percent per annum of assets under management and twenty percent of the profits, whereas Tudor Investment Corp. charges four percent per annum of assets under management and twenty-three percent of the profits.

Trading style and beliefs

As reported in Market Wizards and the press, Jones futures trading style and beliefs are summarized as follows:

  • Contrarian attempt to buy and sell turning points. Keeps trying the single trade idea until he changes his mind, fundamentally. Otherwise, he keeps cutting his position size down. Then he trades the smallest amount when his trading is at its worst.
  • Considers himself as a premier market opportunist. When he develops an idea, he pursues it from a very-low-risk standpoint until he has been proven wrong repeatedly, or until he changes his viewpoint.
  • Swing trader, the best money is made at the market turns. Has missed a lot of meat in the middle, but catches a lot of tops and bottoms.
  • Spends his day making himself happy and relaxed. Gets out if a losing position is making him uncomfortable. Nothing’s better than a fresh start. Key is to play great defense, not great offense.
  • Never average losers. Decreases his trading size when he is doing poorly, increase when he is trading well.
  • He has mental stops. If it hits that number, he is out no matter what. He uses not only price stops, but time stops.
  • Monitors the whole portfolio equity (risk) in realtime.
  • He believes prices move first and fundamentals come second.
  • He doesn’t care about mistakes made 3 seconds ago, but what he is going to do from the next moment on.
  • 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.

Personal life

Jones has been married to his wife, Sonia, an Australian former fashion model, since 1988. They have four children,the oldest of whom is an accomplished singer.

In 1990, Jones pleaded guilty to illegally filling protected wetlands on his estate, and paid a $2 million settlement.Financial World, The Wall Street 100, By Stephen Taub, David Carey, Amy Barrett, Richard J. Coletti and Jackie Gold, July 10, 1990, pg. 56

Philanthropy

Jones is the founder of the Robin Hood Foundation, a philanthropic organization mainly backed by hedge fund operators. He founded and was the Chairman of the Board of the Excellence Charter School, the country's first all-boys charter school, located in the Bedford Stuyvesant neighborhood of Brooklyn, New York. He founded and chaired the Bedford Stuyvesant I Have A Dream Foundation, which puts local students in colleges.

He owns Grumeti Reserves in Tanzania’s Western Serengeti and was recently lauded by the East African country’s Parliament for not permitting hunting in his reserve. The flagship hotel there, Sasaskwa, was named the #1 hotel in the world by Travel & Leisure Magazine in 2011 and 2012. Jones has been working with Tanzania and Paul Milton of Hart Howerton, a London architectural firm that specializes in large-scale land use, to develop regional plans for the sustainability of the area, its wildlife and its local communities. He has set up a trust for Pamushana a private reserve, operated by South Africa's Singita group, the reserve is about 300 Miles southeast of Harare, near the Mozambique border in Zimbabwe.

John Paul Jones Arena

In April 2013, Jones was involved in another controversy at the University of Virginia after telling an audience of students and alumni, “As soon as that baby’s lips touch that girl’s bosom, forget it. Every single investment I did, every desire to understand what’s going to make this go up or down is going to be overwhelmed by the most beautiful experience which a man will never share, an emotive connection between that mother and that baby. I’ve just seen it happen over and over again.”

Living octopus

Living octopus

In countries which are located near sea coasts, sea food is an important part of national cuisine