Risk Management

The Monk Trader: Mastering Emotional Neutrality at the Desk

Photo by Nicolas Häns on Unsplash You can have the most advanced TradingView indicators, the largest bankroll, and a blueprint from Jim Simons himself, but if your pulse spikes every time the price moves against you, you are a liability to your own…

Bill Ackman's $2.6B COVID Hedge: The Asymmetric Masterclass

Senate Democrats, CC BY 2.0 , via Wikimedia Commons In early 2020, as a mysterious virus began spreading globally, Bill Ackman, the founder of Pershing Square, noticed a massive discrepancy. The equity markets were hitting all-time highs, yet the cr…

Paul Tudor Jones and the 1987 Analog: The Macro General’s War Map

In October 1987, the Dow Jones Industrial Average suffered its largest single-day percentage drop in history, falling over 22%. While most of Wall Street was paralyzed by panic, Paul Tudor Jones was executing a "War Map" he had been prepar…

Richard Dennis and the Turtle Traders: The Trend Surfer’s Manual

Chicago Board of Trade by Lars Plougman In the early 1980s, two legendary traders, Richard Dennis and William Eckhardt, had a famous dispute. Dennis believed that trading was a skill that could be taught; Eckhardt believed it was an innate "gen…

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