Reader · no content
No body text on file.
Open the original to read the full piece.
Patrick OShaughnessy republishes nine Paul Tudor Jones maxims, including
Brief
Patrick OShaughnessy re-shares a decade-old post of Paul Tudor Jones lessons alongside his podcast interview, presenting PTJ's core trading philosophy: relentless information gathering, humility, being a "slave to the tape," and prioritizing loss avoidance and risk control. O'Shaughnessy frames those maxims with PTJ's pedigree—correctly calling the 1987 crash, shorting Japan in 1990, and running a flagship fund negatively correlated with the S&P 500 for 40+ years—and relays PTJ's market views that 2026 (per the episode) resembles 2000, calling it "the easiest bear market I've ever seen." The episode also covers PTJ's tactical calls (long dollar-yen, Bitcoin over gold as an inflation hedge), his admission of being wrong about Warren Buffett, and his disciplined lifestyle at 71—waking at 2:30 a.m., two-hour workouts, and an emotional but controlled approach to winning and losing.
Why it matters
Patrick OShaughnessy republishes nine Paul Tudor Jones maxims, including: "The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge," "Don't be a hero... The second you do, you are dead," "I am a slave to the tape," and "I am always thinking about losing money... the most important thing is how good are you at risk control."
Key details
- O'Shaughnessy summarizes PTJ's track record and credentials: PTJ correctly predicted the 1987 crash, shorted the Japanese bubble in 1990, has run a flagship fund with a negative correlation to the S&P 500 for over 40 years, and (per O'Shaughnessy) '100% of his returns are alpha.'
- In the episode PTJ argues today's market has similarities to 2000 and calls it "the easiest bear market I've ever seen," recommends going long dollar-yen, says Bitcoin beats gold as an inflation hedge, and concedes he was wrong about Warren Buffett.
- PTJ's personal routines and temperament are highlighted: at 71 he wakes at 2:30 a.m. to trade the London open, works out two hours daily, walks with his wife every evening, prefers unemotional traders who 'hurt' when they lose, and seeks the investor 'sweet spot'—compelling valuation that is just beginning to move up.