Paul Tudor Jones- Firings
Yesterday on CNBC there was a piece about Paul Tudor Jones laying off approximately 20% of his staff.
The question that pops into my mind is it that Paul Tudor Jones is just too big…or have the markets just been too tough. In all of my career, I have never had such a rough period. Many Global Macro guys as well as CTAs – Commodity trading Advisors have struggled since 2011. If I look at a rolling 5 year period , only small CTAs have profited. Most have gone through very tough draw downs.
John Henry the legendary Trend follower closed up his shop over the last years. Many called for the “Death of Trend Following” Is Paul Tudor Jones another nail on the coffin?
I doubt that very much. What I do not doubt, is how emotionally draining and how tough trend following can be. That is why most do not succeed. It is easy to quit. It is not easy to show up and put on trade after trade in the face of adversity…