This episode is about Paul Tudor Jones — the hedge fund legend who turned defense into an art form.

He’s best known for predicting the 1987 crash and returning over 200% that year — but the real lesson from Jones isn’t how he made money, it’s how he kept it.

What to expect in this episode:

• How a boxer’s discipline became a trader’s edge
• Why he says: “Don’t focus on making money. Focus on protecting what you have.”
• The moral foundation from his Memphis upbringing that shaped his risk mindset
• Lessons from Eli Tullis — the mentor who taught him composure under fire
• The decision to quit a lucrative brokerage job because it “lacked accountability”
• His 10% monthly drawdown rule — and why it keeps him in the game
• The power of humility: “Every day, I assume every position I have is wrong.”
• How he turned the 1987 crash into his defining moment
• Why generosity and gratitude are essential to staying balanced in markets
• The timeless truth: great trading is not about being right — it’s about not dying.

Books & Resources Mentioned:

• Market Wizards by Jack D. Schwager
• Trading In The Zone by Jack Schwager

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If this episode helped you think more like a survivor than a speculator, share it with one friend who loves the markets and making money

• (00:00) - Introduction: Defense Always Wins