The Man Who Made $100 Million on October 1987 Crash

Paul Tudor Jones’ Greatest Trades

There are two types of Wall Street legends: those who follow the rules, and those who write them. Paul Tudor Jones — Memphis-bred, suspender-clad, and armed with a Southern drawl — falls squarely in the latter camp.

Born into a prominent Memphis family in 1954, Jones grew up around the newspaper business — his family owned The Daily News, where his father served as publisher.

After attending Memphis University School, Jones headed to the University of Virginia. To pay tuition, he wrote articles for his family’s paper under the pseudonym “Paul Eagle” — a nod to his sharp-eyed instincts.

After graduating in 1976, he leaned on his cousin — a cotton magnate — to land a gig trading cotton futures in New Orleans. But his early days weren’t all smooth sailing. After one too many late nights in the Big Easy, Jones famously dozed off at his desk and was promptly shown the door.

But getting fired turned out to be just what the 24-year-old needed. He landed at E.F. Hutton & Co. as a commodities broker,

Trading at E.F. Hutton

It was there, in the chaos of the trading pits, that any notion of “efficient markets” seemed laughable. The real action…