Paul Tudor Jones and Black Monday

Result: $100 million profit

"In the next 10–20 months, decline will happen and its scale will be amazing."

Paul Tudor Jones, 1986. Black Monday occurred in October 1987 and became a real disaster for many traders. But Paul Tudor Jones foresaw this event and literally got rich on it.

This financier had began to make progress back in 1976, but the real glory came only ten years later.  In 1986, Paul Jones began to notice a significant revaluation of shares. He and his staff at the Tudor Group (particular, his companion Peter Borish) spent hours working on the Wall Street crash schedules of 1929, analyzing historical references and sales data, and noted direct comparisons with the market situation in 1929.

They cranked up one of the greatest deals in Wall Street history with that information. Two weeks before that fateful October day in 1987, the Tudor investment group began aggressively trading against the market, while the rest of Wall Street either moved with the flow or did nothing at all.  By the end of the working day on October 19, the Dow Jones Index instantly collapsed by as much as 22% in one day.

That day, Jones became wealthier by $100 million and earned a reputation as one of the most discerning traders. Unlike Livermore, Paul Tudor Jones has continued his success on the trading floor and is currently ranked by Forbes as one of the highest paid hedge-fund managers in the world.

In recent reports, assets managed by him exceeded $18 billion.

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