Pirata

[Pirata @Pirata089]

"The demon that you can swallow gives you its power, and the greater life's pain, the greater life's reply" - Joseph Campbell

[MERICA MEMED @Mericamemed]

We're literally on a space rock flying through the universe. Yet we still pay taxes.

photographer: Connor Paton

[Elon Musk @elonmusk]

https://t.co/jn3ganMSpJ

[PerfectlyImperfect💋 @MattiB84]

Gave me chills

[AutisticClips @AutisticClip]

Joe Rogan talks about Clavicular and looksmaxxing

“He’s a handsome fella. Apparently he does m*th because he finds it better than adderall for controlling his appetite.”

Shane Gillis: “Jestermaxxing is so funny.”

[SARI HABER @Sari_Haber]

🔸Bu boğa matadoru, yaptığı bu hareket sayesinde Redbull’dan 1 milyon dolarlık teklif aldı.

[Joe Rogan Podcast News @joeroganhq]

"The number one thing people regret on their deathbed is, 'I should've treated more like a game.'"

Honestly, I do agree but it's much easier said than done. For the majority of people, at least.

[Katlyn Nicole 💕 @KatlynNicole26]

When your vagina lips are showing through your shorts in public, you’re a whòre.

Do you think women should dress more modestly in public?

[Ethan Kho @ethanrkho]

"I haven't seen a real new idea in trading in at least 15 years."

Tom Costello (@tcoste110) ran money at Tudor, Moore Capital, and Caxton. Built one of the first NLP-driven equity systems in 2003.

20 years managing capital, never had a down year.

"Comparing what a retail trader does to what a quantitative hedge fund does is like comparing driving a bus on the New Jersey Turnpike to winning a Formula One race."

We cover:
- His hot take: no genuinely new trading idea in 15 years — only better people doing the same things faster
- Why everyone in quant finance is a genius — and why that makes you ordinary, not special
- Crypto is "super smart guys cosplaying at finance" — built for retail, which is exactly why it's the easiest money in finance right now
- Why AGI won't beat the hedge fund industry — all the readily-capturable alpha is already captured
- The status trap: why the path that made Paul Tudor Jones a billionaire won't work for the kid trying to copy it in 2026
- His friend the investment banker who'd quit it all to run a 10-employee ambulance supply company worth $150M
- Why excitement is "wildly overbid" in finance — and why wanting an exciting trading job is itself a disqualifier
- The most honest end of the financial industry — and why the media has it exactly backwards

Thanks so much to Tom for coming on Odds on Open!

Highlights:
00:00 Intro
01:18 Building institutional credibility for early-stage managers
03:01 The Pareto distribution of hedge fund returns
04:25 Applying the Unified Field Theory of Finance to fair value
08:14 Trading against human incentives in a deterministic market
13:54 Why allocators don’t steal alpha from prospective PMs
25:16 Evaluating career edge in quantitative finance for 2026
30:48 Paul Tudor Jones and the art of game selection
33:42 Analyzing the economic viability of starting a new fund
35:16 Identifying common retail pitfalls: Mean reversion and arbitrage
38:55 Why there hasn't been a new trading idea in 15 years
50:33 Managing tail risk: Physics vs. deterministic financial distributions
59:10 Career pathing for PMs after a fund blow-up
1:07:53 SBF and FTX: Credibility vs. the "Founder-Genius" archetype
1:13:44 Establishing proof-of-concept through audited multi-year returns

[Jon Root @JonnyRoot_]

Mormons are upset because Christian artist Forrest Frank shared an intro to his newest song ft. Phillip Anthony Mitchell, who states “Joseph Smith is still in his tomb”, while Jesus is alive.

It’s one of a few false prophets mentioned, including Muhammad in the intro.

🎥: HiForrest/IG

[Sam Badawi @Sam_Badawi]

PAUL TUDOR JONES ON BUYING THE S&P 500 RIGHT NOW:

"If you buy the S&P at this current valuation, the 10-year forward returns are negative when you buy with the S&P P/E of 22. That's what history shows."

Jones called the 1987 crash before it happened. He's not predicting a crash. He says the setup is more leveraged than anything he's seen including 2008.

"The stock market's really high, and it's going to be really hard to make money from here."

[Dougie Kass @DougKass]

I strongly suggest spending eighty minutes and listening to the Paul Tudor Jones interview.

PTJ is an exceptional trader, investor and human being.

So many lessons about life and investing can be learned by watching this podcast.

In this prized podcast, Patrick OShaugnessy does something so simple - that makes the viewing experience so great... he lets Paul Tudor Jones talk.

Run, dont walk to watch this! @dougkass

@tomkeene @lisaabramowicz1 @ferrotv @business @SquawkStreet @SquawkCNBC @BeckyQuick @andrewrsorkin @joesquawk @carlquintanilla @TheJudgeCNBC @SaraEisen @SullyCNBC @gnoble79 @KeithMcCullough @SamofAmerica @RPKent @HedgeyeDJ @pboockvar @Convertbond @guyadami @cnbcfastmoney @HalftimeReport @WhitneyTilson @jeffberkowitz1 @patrick_oshag @MelissaLeeCNBC

[Goshawk Trades @GoshawkTrades]

Paul Tudor Jones: "You cannot be a trader and not be a really good risk manager. Anyone that's really succeeded investing or trading is first and foremost a great risk manager."

50 years of compounding. $12+ billion fund. New interview just dropped.

I broke down the full playbook:

[Cosmos Archive @cosmosarcive]

Brian Cox reveals that every tiny dot is a galaxy hosting 100 billion stars. That thin line at the top? A billion light-year span. Even at the speed of light, it would take a billion years just to cross that sliver. We are part of a cosmic ocean containing 30 sextillion stars, and yet, this is only the part we can see.
​The room went completely silent as the scale settled in. It is one thing to hear the numbers, but seeing that map makes you realize we are drifting in a vast, beautiful ocean of light. This is the observable universe, a tiny fraction of a much larger reality. Pure cosmic awe is the only appropriate response to our place among the stars. It makes every earthly struggle feel both infinitely small and our existence infinitely precious.

Source: Horizons: A 21st Century Space Odyssey (Live Tour)

[Patrick OShaughnessy @patrick_oshag]

Paul Tudor Jones on the moment early in his career that taught him the difference between investing and trading.

He watched Bunker Hunt go from the richest man on Earth to nearly bankrupt in six weeks:

"Bunker Hunt was squeezing silver at the time, and he bought about 200 million ounces at an average price of about $3.50. And between 1976 and 1980, inflation started ripping and silver went literally through the roof.

By like 1979, silver was around $30 an ounce, and all of a sudden he was worth about five or six billion.

So he buys 20 million ounces at $35. And it just roofed. Goes to $50. He's worth about 11 billion and he's got a multiple of five or six on the next closest guy.

I just couldn't even believe what I had seen and how much money that this guy had made.

COMEX made it liquidation only and silver collapsed. It went from $50 to under $10 in the space of about eight weeks.

And that had a searing impact on me, to see him go from the richest guy to virtually bankrupt in the short space of six or seven weeks.

Right then and there, I would never own anything or trust anything for the rest of my life.

My grandfather, when I was really young, he said, "Son, you're only worth what you can write a check for tomorrow."

So liquidity's always been something that's been in my DNA.

I had this friend; he was such a character. We were brokers at that time at E.F. Hutton. And we called him The Mortician because he'd get an account with 10,000, churn about a $100,000 in commissions, take it to a million bucks, and then have it in deficit.

So you learned that liquidity was really important because the volatility was so huge. We're all living on the edge. So that had a real impact on me.

The idea of owning something for the long run was laughable, because look how much money you could make by trading in the short run."

[THE SHORT BEAR @TheShortBear]

Paul Tudor Jones in long format.

[The Figen @TheFigen_]

Professional boxer Ryan Garcia shows an amateur fighter that there are completely different levels in this sport.

[Crazy Moments @Crazymoments01]

This is how this horse reacted to protect its caretaker during an earthquake in Japan.

[Goshawk Trades @GoshawkTrades]

Ken Griffin built Citadel into one of the most profitable hedge funds in history ($70B+ AUM).

In this 30-second clip he explains exactly what separates professionals from everyone else: treating trading as a research business.

Watch this. Then read the article below.

[Healthy & Organic @_Healthyorg]

The last one is the best…

[Johnny B. Good @Cat5SMASHICANE]

🤣🤣🤣🦨 I will absolutely be that guy who sprays this in everyone's inflatable costume. I admit that im not too mature for it.