Fantastic documentary finally available for free. ( 7 parts) http://www.youtube.com/watch?v=jFOXDtHi8os&NR=1
Saw that zerohedge had this up earlier. I’ll definitely watch this tonight.
Neat guy. I met him at a dinner in Memphis a few years ago. He has a hell of a duck hunting place on Marylands eastern shore. I’m going to watch the whole series this week…thanks for the link.
A quote from Paul Tudor Jones (from wikipedia): "He then applied to Harvard Business School, was accepted, and packed to go when the idea occurred to him that: “this is crazy, because for what I’m doing here, they’re not going to teach me anything. This skill set is not something that they teach in business school.”
nice link, thanks mo
you know what’s funny, I think (though could be wrong) this is the same documentary that was selling for four figures on ebay, check out the following post from this poster on EliteTrader (one of the other forums I frequent) 12-07-07 10:04 PM Is it really that hard to find this classic video? Somebody recently got over 1200 bucks for the thing on ebay. http://cgi.ebay.com/TRADER-The-Docu...9QQcmdZViewItem Come on, it can’t be that good. I’ve read that paul himself tried to get it out of circulation because he thought he gave up too much of his strategy on the film. Wouldn’t mind seeing it, not because of “information” but I think it would be interesting. It has to be in some library somewhere.
he called the '88 crash that happened in 87.
I saw only part of the documentary and my initial thoughts are the markets have become exponentially larger, so when he discusses the pyschology of placing trades (in particular when he is placing sell orders on the D-mark) some of that stuff is probably less relevant now, though I am not on a trading desk so I could be wrong. Really fascinating when the were measuring the correlations between stock market performance in the 20’s and 80’s and the correlation coefficient was like 90+% and they attributed this in part to the elliot wave theory.
The Ascent of Money is also free, on the PBS site: http://video.pbs.org/video/1170821435/program/1155680272
good stuff, a friend off mine sent me these quotes from him: “I’d say that my investment philosophy is that I don’t take a lot of risk, I look for opportunities with tremendously skewed reward-risk opportunities. Don’t ever let them get into your pocket - that means there’s no reason to leverage substantially. There’s no reason to take substantial amounts of financial risk ever, because you should always be able to find something where you can skew the reward risk relationship so greatly in your favor that you can take a variety of small investments with great reward risk opportunities that should give you minimum draw down pain and maximum upside opportunities.” “And then at the end of the day, the most important thing is how good are you at risk control. Ninety-percent of any great trader is going to be the risk control.” – Q: Let’s play a word association game. I’ll say a word and you say whatever comes to mind. Q: Technical analysis Paul Tudor Jones: Made well over half the money that I’ve made in my lifetime. Q: Fundamental Analysis Paul Tudor Jones: Made the rest.
PhillyBanker Wrote: ------------------------------------------------------- > I saw only part of the documentary and my initial > thoughts are the markets have become exponentially > larger, so when he discusses the pyschology of > placing trades (in particular when he is placing > sell orders on the D-mark) some of that stuff is > probably less relevant now, though I am not on a > trading desk so I could be wrong. > > Really fascinating when the were measuring the > correlations between stock market performance in > the 20’s and 80’s and the correlation coefficient > was like 90+% and they attributed this in part to > the elliot wave theory. I was surprised at the correlation as well. But what really struck me is how much he believed in his findings and was willing to bet the house on it. Even this simplest of models, he made a fortune believing in it. Did you catch the part where he says he started as essentially a glorified secretary serving coffee 
Yeah, it seemed overly simplistice to extrapolate a forecast based on a correlation from 60 years ago. I don’t know much about elliot wave theory but my guess is the run-up in values for both periods was determined to be largely behavioral and that’s what the correlation was telling them; people were acting in the same manner as they were in the past. There must have been some fundamental reasons they had to support their beliefs as well. I don’t recall that mo, I think I made it through the 2nd clip.
Love the Bruce Willis shoes…
Damn, it’s been taken down.
phew… good thing I watched it last night. Loved how he played the OPEC meeting.
Bankin’ Wrote: ------------------------------------------------------- > Damn, it’s been taken down. F.UCK - should have watched it while it was up.
it’s also here, http://www.youtube.com/watch?v=-4VuroiS5k0 but some parts are missing…hope this guy uploads the rest. i wanna watch it over the weekend.
itstoohot Wrote: ------------------------------------------------------- > it’s also here, > > http://www.youtube.com/watch?v=-4VuroiS5k0 > > but some parts are missing…hope this guy uploads > the rest. i wanna watch it over the weekend. I was nearly done with it when it got dinged, so that was all I needed. Thanks. It’s a pity the documentary ended a few short months prior to the crash of 87.
i saw the whole thing last night it was very interesting to say the least - mad respect for the guy. never seen a trader in action before, especially just on the phones! I still dont get trading thou! maybe that’s why I am pursuing the cfa!
It’s gone again 