PAUL TUDOR JONES: Babies Are The Biggest 'Killer' Of Women's Trading Success

Dubin, Paul Tudor Jones, SoniaPaul Tudor Jones and his wife Sonia

Last month, legendary hedge fund trader Paul Tudor Jones made some controversial comments about why there are so few female traders at the University of Virginia symposium on a panel with Julian Robertson and John Griffin. 

The Washington Post has obtained video footage of the panel via a Freedom of Information Act request.

The footage shows PTJ explaining how in his view the biggest killers to trading are divorce and babies.

To illustrate his point, he shared an anecdote about how two women he traded with at E.F. Hutton lost their focus after having children.  

“Then they both had, which in my mind is as big of a killer as divorce is, they both had children. As soon as that baby’s lips touched that girl’s bosom, forget it,” he said.

Here’s what we’ve transcribed from part of the footage(emphasis ours): 

“You will never see as many great women investors or traders as men. Period. End of story. And the reason why is not because they’re not capable. They’re very capable. Like, one of my No. 1 rules as an investor is as soon as my manager, if I find out that manager is going through divorce, redeem immediately.  Because the emotional distraction that comes from divorce is so overwhelming. The idea that you could think straight for 60 seconds and be able to make a rational decision is impossible, particularly when their kids are involved. You can automatically substract 10 to 20% from any manager if he is going through divorce,” PTJ explained.

“Women, when you think about why is it that I’m here today.  I’m here today because as a child I played every game in the world— I played poker, backgammon, bridge, Monopoly…Chinese checkers, solitaire.  I played every game that you could imagine and that’s all I did as a child. By the time I was 21, I had a PhD in probalistic theory because I loved games. It’s what I did…So I got my 10,000 reps.

“So now, let’s take the typical female that enters the workforce.  In my 20s, then I was exposed to the pits and I had this incredible..I was getting all this information because I was there at ground zero during one of the most explosive times in history of the futures markets. So it was fantastic. So my most formative ages, which were 21 to 30, I was there again now 10,000 reps because 20 or 30,000 reps. Take a girl that was my age at that point in time, particularly back in the 70s.  I can think of two that actually started E.F. Hutton with me.  Within four years, by 1980, right when I was getting ready to launch my company they both got married.  Then they both had, which in my mind is as big of a killer as divorce is, they both had children. As soon as that baby’s lips touched that girl’s bosom, forget it.  Every single investment idea, every desire to understand what’s going to make this go up or go down is going to be overwhelmed by the most beautiful experience which a man will never share about a mother connection between that mother and that baby. I just see it happen over and over.  I’m talking about trading, not managing…”  

His comments ended up upseting some alumni and faculty at his alma mater.  PTJ later issued a statement to the Washington Post calling them “off the cuff remarks” at the April 26 event.

Watch below [via Washington Post]

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