The billionaire hedge fund manager, Paul Tudor Jones, gives a speech to ninth graders about failures and talks about examples from his own life. Failure was a key element is his life’s journey. He went from getting fired at one of his jobs to becoming a highly successful trader!
Read the speech to find out about:
- A cool story about sword wielding Shakespearean actor
- Brick layer playing basketball
- Getting fired for snoozing after working for one of the greatest cotton traders of all time, Eli Tullis
- Got dumped at the altar at the age of 26 before he finally ended up marrying the Australian model Sonia Klein
Here is the Paul Tudor Jones failure speech:
Everyone fails in trading in the beginning. I was a dismal failure for two years as I went through the beginning and chartist trading cycles. Made every mistake in the book. Over trading, over leveraging, system hopping, poor money management, poor discipline, unseriousness. Suffered from information overload. I was clueless as to the best trading questions to ask. I was searching for the holy grail tweaking moving averages and stochastic combinations. The holy grail does exist, it just isn’t found with technical indicators.
You shouldn’t have any fear of failure. You shouldn’t wish it to happen. You always prepare for success. But if failure does happen, whether big or small, then you live and learn.
It makes you stronger.
For once you fail and hit rock bottom, then you survive and the inevitable recovery starts, you start to eventually think that it wasn’t that bad after all.
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