Tudor Demands Managers Take More Risk in Hedge Fund Shakeup
- Paul Tudor Jones increases the amount of assets he runs
- ‘We have to think outside the box,’ Jones says in letter
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Billionaire Paul Tudor Jones, who’s facing his worst performance since the global financial crisis, wants to show investors he hasn’t lost his mojo.
Jones, the legendary macro trader, told investors in an Aug. 16 letter that he will manage a larger chunk of their money himself. He also said managers at his $11 billion Tudor Investment Corp. will be forced to take more risk.
“We have to think outside the box,” Jones, 61, said in the letter obtained by Bloomberg. “I firmly believe the changes we have made put us in a position to be successful even in this desultory macro environment.”