334 · Andrew Perry - What $450M Portfolio Manager Learned From Paul Tudor Jones

Elite macro traders win only 55-57% of trades; edge comes from asymmetric risk management, not prediction accuracy.

• Tudor career: Andrew Perry managed up to $450M as a portfolio manager at Tudor Investment Corporation under Paul Tudor Jones (2004-2010), after starting an internal hedge fund at Commonwealth Bank of Australia with $50M capital.
• Win rate reality: Top macro traders like Paul Tudor Jones win only 55-57% of the time; edge comes from cutting losses fast and letting winners run, not high accuracy.

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