The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content.
In line with our responsible and transparent approach, all details will be shared with the public in due course.
My guest today is Paul Tudor Jones (@ptj_official), one of the greatest macro traders of all time.
He correctly predicted the 1987 stock market crash and shorted the Japanese bubble in 1990. For over 40 years, his flagship fund has had a negative correlation to the S&P 500. 100% of his returns are alpha.
He says today's market has so many similarities to 2000, "the easiest bear market I've ever seen in my whole life."
He makes the case for going long dollar-yen, why Bitcoin beats gold as an inflation hedge, and why he was wrong about Warren Buffett.
But what I'll remember most from this conversation is Paul's zest for life. He's 71 and still wakes at 2:30 every morning to trade the London open. He works out for two hours a day. He walks with his wife every evening. He travels the country chasing peak spring and peak fall. He's so excited about the songs picked for his funeral that he wishes he could be there to hear them.
Paul has lived five lifetimes in one. He's one of the most entertaining and interesting people I've met, and the conversation will leave you searching to be as passionate about what you do as he is about what he does.
Enjoy!
Timestamps:
0:00 Intro
1:00 The Kindest Thing
13:19 Trading vs. Investing
17:33 Lessons from Warren Buffet
22:24 The Existential Risks of AI
29:54 The Nature of Trading
31:46 Bitcoin
35:55 Bubbles
42:08 A Day in the Life of PTJ
46:00 Information Overload
47:07 Passion for Markets
50:49 The Robin Hood Foundation
54:18 The Workless World
56:03 Journalism
1:00:00 Principal Components of a Great Life
1:05:06 Kill Them With Kindness
Two Anthropic engineers spent 24 minutes exposing every Claude Code feature you didn't know existed.
Most people will scroll past this. Don't be most people.
Turning an idea into a tech product is now ridiculously easy. Vibe coding is absurdly powerful.
What a time to be alive. AI is nothing sort of phenomenal!
🚨 Anthropic's own team just showed how to actually use Claude Code properly.
30 minutes. free. the person who created Claude Code.
watch the workshop. bookmark it.
worth more than every $500 course you almost bought.
you've been using Claude without knowing 40 of its commands.
Then read the guide below.
China's industrial dominance is staggering.
It now makes almost all of the world's solar PVs, more than half of the world's ships, and a third of the world's chemicals.
The sheer pace and scale of China's industrialization is something we've never seen before.
BREAKING: In a direct message to the Trump administration and the US Navy, China's Defense Minister Admiral Dong Jun says Chinese ships will continue transiting the Strait of Hormuz through agreements with Iran, and warns the US not to "meddle in our affairs."
Also from Dong's statement:
1. Says Chinese ships are currently "moving in and out of the waters of the Strait of Hormuz"
2. Confirms China has existing "trade and energy agreements with Iran" that China will "respect and honor"
3. Explicitly states: "Iran controls the Strait of Hormuz and it is open for us," recognizing Iranian sovereignty over transit