On Wall Street, knowledge is power and wisdom is priceless. And iof you’re a trader, you know that there are few on the Street wiser than hedge fund manager Paul Tudor Jones.That said: This morning we noticed that the 1987 documentary, ‘Trader’, about PTJ’s life and work, is on Vimeo. This is a shocker since he asked PBS to stop airing the documentary shortly after it premiered. Copies of the piece are also really hard to find.
So we watched ‘Trader’ to see if we could do the most important thing you can do in finance — learn something. We grabbed this little piece of wisdom about trading from the man himself about three quarters of the way through the documentary:
“Where you want to be is always in control — never wishing, always trading. And first and foremost covering your arse.”
It’s inspirational, actually.