dveirin

[Patrick OShaughnessy @patrick_oshag]

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

[Swipa @SwipaCam]

All-time great playoff moment.

[NBA @NBA]

Nikola Jokić's INSANE passes have shades of Magic Johnson 🔥

[Joe Weisenthal @TheStalwart]

Any theories for why the PredictIt/Polymarket spread is so wide right now?

[Kevin Blue @TheiKevin]

Coldplay - Fix You (#Glastonbury 2024) (feat. Michael J Fox)

[StripMallGuy @realEstateTrent]

I miss San Francisco.

I miss Crissy Field. The Marina Green.

I miss that walk along the water at sunset, with all that green to your left, the water to your right, and the sight of that huge surreal orange bridge up ahead.

The Italian sandwich spots in north beach. The insane views from Russian Hill.

Getting lost in the Presidio, or Golden Gate Park for hours at a time.

The parrots flying above Alta Plaza Park.

I miss the sand dunes at Ocean Beach.

All those little stores in the mission that sell the most random things that you can’t help but check out over and over again, even though you’re not really sure what they are.

I miss running into some of the best coffee spots in the world everywhere you turn.

The feeling that you’ve gone back in time as you wander through the Haight-Ashbury and walk by stores that somehow survive selling nothing but tie-dye clothes.

I miss hiking around Lands End, in disbelief that place exists on earth.

I miss the time-worn but perfect hole-in-the-wall Chinese food restaurant you can’t get enough of.

I miss walking into the Ferry Building on a Saturday morning and wanting to sample from every single one of those little shops, and then existing out to a picture perfect farmers market along the water.

I miss that stunning downtown view that rises you out of nowhere as you head up highway 280.

I miss the electric energy of a crowded Dolores Park on a sunny day, and guessing just what crazy thing that next vendor is going to walk by with.

I miss the occasional movie at the Castro Theater, and that hilarious vibe as you’re heading inside.

I miss walking up to one of the most beautiful ballparks ever built, and that smell of garlic that sharply greets you as you enter.

I miss the throwback steakhouse vibe of The House of Prime Rib.

Or occasionally putting on my tourist hat and heading down to Fisherman’s Wharf or over to Alcatraz; two places where you’re guaranteed to never run into anybody you know.

I miss zipping down Franklin St and timing it so the lights all turn green just as your car approaches the intersection.

I miss the authenticity of Chinatown.

I miss how the wind sounds as you ride the ferry across the bay to Sausalito. Talk about a bucket list experience.

I even miss hearing those loud kids that crowd The Tipsy Pig all day, screaming at the top of their lungs as that fifth drink starts to hit them.

I miss that it never gets too hot, and that picturesque layer of fog that settles just above the water, even when it hangs around for just a few weeks too long.

I miss the eclectic mix that makes up the people of San Francisco, and the passion they have for their city.

And most of all, I miss the enthusiasm and the optimism, even within a city that has always had its challenges.

The people who live there are there because they know there are better days ahead.

They know they live in a special place.

It’s been down before, but there are just too many great things about it to ever count it out.

San Francisco will be back.

And it will be better than ever.

It’s an American national treasure.

It’s a place we should all be rooting for.

[Denver Broncos @Broncos]

“I want to make every second count.”

You did that, and then some.

Thank you, @jsimms1119. 🫡

[ESPN @espn]

Jokic went up to every Heat player before celebrating winning the #NBAFinals

Sportsmanship at its finest 👏

[SportsCenter @SportsCenter]

Nikola Jokic and Jamal Murray are the first duo to each drop a triple-double in an #NBAFinals game 🔥

[Zach Bye @byesline]

Remember when LeBron picked Jokic last at all star game? Remember when Kendrick Perkins tore down Jokic w/ accusations & poisoned the MVP convo? Remember Mark Jackson & his MVP ballot? When Lisa Salters said she hadn’t watched him? When Nick Wright called him worst MVP ever?

🖕🏼

[George Karl @CoachKarl22]

If you had told me decades ago a 6’2’’ 185 PG would transform the game, I would have laughed at you!

Let’s just celebrate his greatness while it’s here. No GOAT conversations necessary.

[Colorado Buffaloes Football @CUBuffsFootball]

Home 🏠

#GoBuffs | @DeionSanders

[Chris Josephs @Chrisjjosephs]

Two days ago the NYT posted an investigation into politicians trading stocks

They found that 81 Democrats & 101 Republicans filed up to 3,700 trades and $100M in possible volume

Many had 100% winners, with some perfectly timed

Here’s examples of just how good they were

[Patagonia @patagonia]

Instead of “going public,” you could say we’re “going purpose.” Instead of extracting value from nature and transforming it into wealth for investors, we’ll use the wealth Patagonia creates to protect the source of all wealth.

Read Yvon's letter at https://t.co/TolGLfHEGG

[dveirin @dveirin]

🫡

[Denver Broncos @Broncos]

“I gave it my all. Every single rep, every single play, I tried to go 100 percent as hard as I can. And that’s why I can hang my hat and say I gave the game everything I had and the game gave it back to me.”

@ESanders_10 announces his retirement as a Bronco:

[Golden State Warriors @warriors]

Steve Kerr on today's tragic shooting in Uvalde, Texas.

[Troy Renck @TroyRenck]

#Rams @VonMiller on who he was playing for, including his good friend Demaryius Thomas #Broncos #Denver7

[dveirin @dveirin]

👏

[Vivek Jain @VivekJainMD]

A truly momentous day at San Francisco General Hospital @ZSFGCare @UCSF @SFGHFoundation: for the first time since March 5, 2020, we have zero patients with #COVID19 in our hospital. A huge milestone in our battle against this pandemic.

[dveirin @dveirin]

Insightful commentary from @chamath

Palihapitiya: US shouldn't bail out hedge funds, billionaires during pandemic https://t.co/BoE6gkdnTy