curating a list of essays everybody cites but nobody has read
- the death of the author
- visual pleasure and narrative cinema
- the work of art in the age of mechanical reproduction
- the structure of scientific revolutions
- against interpretation
A billionaire trader has spent 40 years trying to delete a one-hour documentary. It shows him making $100 million in a single afternoon. He predicted the crash that made it possible three months in advance. He has never explained why he wants the film gone. His name is Paul Tudor Jones. The film is on YouTube.
The documentary is called "Trader." PBS filmed it in 1987, three months before Black Monday. Jones was 32 years old, working from a small New York office, wearing shorts and a t-shirt, yelling at his phones, throwing paper across the room, and sleeping under his desk. The film captures him and his research partner Peter Borish overlaying a chart of the 1929 market on 1987, month by month. The two charts tracked within one percent. Borish said this is exactly what happened in 1929. Jones said if the analog holds, October is when it breaks.
On October 19, 1987, the Dow fell 22.6 percent in a single day. It remains the largest one-day percentage loss in stock market history. That afternoon, Tudor Jones covered his shorts and made roughly $100 million. He was 33 years old. He was one of the very few traders on the street who came out ahead.
He tried to bury the tape because it made him look reckless in a professional world that punished swagger. Twenty years of legal effort did not delete it. Someone kept a copy. It is on YouTube. It has fewer views than most makeup tutorials.
The film is not really about a crash. It is about a specific philosophy of trading. Jones is shown building conviction slowly, sizing carefully, then striking hard when the setup arrives. He is never once shown making a random bet. He is shown doing the same thing five times a day, every day, for three months.
His signature line, repeated across a 45-year career:
"The most important rule of trading is to play great defense, not great offense."
He does not try to be right. He tries not to lose. He sets stops tight, cuts positions fast, and never averages down on a loser. Every trade in the film follows this template.
Tudor Investment Corp, the fund he founded in 1980, has compounded at roughly 19 percent a year for 45 years. He is 71 years old and still trading. His method has not changed since the film.
The lesson: greatness in markets is a refusal, not a talent. Refusal to be reckless. Refusal to be certain. Refusal to average down. Refusal to trust yourself in a drawdown. Tudor Jones has refused those refusals for 45 years.
The tape is free. The philosophy is repeated in every trade. Most traders will never watch it.
🇨🇳The founder of Moonshot the Chinese company that created Kimi K3 to overthrow Anthropic and OpenAI lead just gave a 40 minute masterclass on their progress.
The best explanation I’ve seen on Chinese cheap models. Free game!! Must watch…
Argentina are the only team out of all 48 participants not to have a single VAR intervention against them, despite committing the most fouls in the tournament. Do you even realize how insane that is?
'For 400 years Westerners... killed us in every possible way' — Ibrahim Traore, Interim President of Burkina Faso
'They TRAUMATIZED us', but 'we LOVE them more than we love ourselves...
That's the Stockholm syndrome'
Did y’all read the comic section of the paper when you were little? I tried to talk to someone about this popular comic and he was like “Who tf read the paper as a child???” I thought the comic section was for kids and all of us read it???
Gustavo Fring was right, if you have a problem that means it can be solved. If it cannot be solved then it is not a problem. It is a reality to be accepted.
Traoré is one of the most progressive, open-minded Muslim leaders I have ever seen, alongside Mohammed Gaddafi.
When they funnel your brightest youth into Sharia Law and Theology instead of medicine, engineering, or science, you know damn well it's a ticking time bomb.
Seeing one of gods most majestic and divine creatures, fight so valiantly against the destruction and rampaging of his home should do untold psychic damage to your psyche. We should be radicalized by this.