A Quote by Paul Tudor Jones
If I have positions going against me, I get right out; if they are going for me, I keep them Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.
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I spend my day trying to make myself as happy and relaxed as I can be. If I have positions going against me, I get right out; if they are going for me, I keep them.
The most important rule is to play great defense, not great offense. Everyday I assume every position I have is wrong. I know where my stop risk points are going to be. I do that so I can define my maximum drawdown. Hopefully, I spend the rest of the day enjoying positions that are going in my direction. If they are going against me, then I have a game plan for getting out.
The money has to be deferred with what they call "clawback," which means they can get it back if I lose it all. So that guy making ten million a year selling credit default swaps, if we're going to keep five million of it in escrow for ten years, and with the right to go back and get it, if he starts losing money, then we're going to give people the right incentives not too take so much risk.
When I get hurt in the market, I get the hell out. It doesn't matter at all where the market is trading. I just get out, because I believe that once you're hurt in the market, your decisions are going to be far less objective than they are when you're doing well If you stick around when the market is severely against you, sooner or later they are going to carry you out.
I’m I really working on the right thing, or once I put the solution in place I’m I going to get the benefit out of it, or is this masking some other underlying thing, whether it’s personal or what have you. I mean, I always get to that too because that’s the subtlety of problem selection.
What are we going to do about the injuries to our country still going on right in front of our eyes? It gets me out of bed in the morning. It makes me mad enough to get my blood up and want to get out there with [Mark] Twain and get it said and that is why I still hit the road and go out on the stage and keep working at staying alive.
I think risk is important. I don't care if it's a great financial risk or a physical risk. You only get out of something what you put into it and the fact that you are willing to risk something means that you are going to get a lot more out of it.
For me the very important thing was never to forget that they had no right to have me there, that my duty was to escape and that I needed to get back to my family and to my children no matter what. And that I could not accept to just see them as an authority, that I had to always keep in mind that I had to rebel and to keep my distance and to protect my soul because the core of the problem is dignity.
It certainly was an important moment for me, that realization that I was not going to get what I wanted. It was very freeing. I keep using that word "freeing" or "liberating." I feel like Houdini sometimes, like I'm just getting out of one set of shackles after another, hanging upside down inside a burlap bag with handcuffs on. Hopefully one day, I'm going to get out of this tank of water.
When I do get in the game, just getting me going. How do you get me going? If that's running plays or things where I can impact and get going. But once I'm in the flow, I'm in the flow. It's hard to get me out of that.
I'm not entirely comfortable saying I'm an actor, because it seems like a very weird, almost dorky thing to say you are. I laugh after every take just out of the discomfort I feel that I'm even on film. It's an awkward thing for me to be doing. Once we get going, it's always fine, and as we're shooting, I'm never thinking about it. I'd say that all my time in front of the camera is equally uncomfortable for me.
Quarterback and cornerback are two of the hardest positions to play on the field, so yeah, you're going to get beat, you're going to throw interceptions, you're going to get sacked, you're going to miss throws. Stuff like that is going to happen. That's something you've been prepping for your whole life playing the position.
Don't be afraid to fail. You're going to go on a million auditions, and most of them you won't get. It's very easy to think, 'This is not going to work for me,' but keep at it. It's very generic advice, but you have to be willing to keep yourself in the game.
It's beyond my control who's going to cast me or how you're going to pigeonholed, so for me, it's just I want to keep doing different things because I want to get better, so hopefully I'll be hired to do them.
Some years down the pike, we're going to get the real solution, which is going to be a combination of death panels and sales taxes. It's going to be that we're actually going to take Medicare under control, and we're going to have to get some additional revenue, probably from a VAT. But it's not going to happen now.
After Stand By Me came out, people were telling me, 'You're so good,' 'You're going to be a star,' and things like that. You can't think about it. If you take it the wrong way, you can really get high on yourself. People get so lost when that happens to them. They may think they have everything under control, but everything is really out of control. Their lives are totally in pieces.
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