potens_NWI
1.7K posts

potens_NWI
@PotensN
My Father in Heaven above all else✝️🙏🏼☝🏼, Husband, Father, Son of a King. 30yrs Trading markets. Doing the best I can to raise my girls in a broken world.


@paxtrader777 How old were you at your peak?


In 1980, Paul Tudor Jones watched Bunker Hunt go from the richest man in the world to virtually bankrupt in six weeks. It shaped everything about how he thinks about risk. Hunt had been quietly buying silver since 1976 accumulating 200 million ounces at an average price of around $3.50 an ounce. As inflation raged through the late 1970s, silver exploded. By 1979 it hit $30 an ounce. Hunt was worth $5 to $6 billion, three times richer than the next closest person on earth. Someone asked him what he was going to do with all that silver. "I'm going to bury it." He then bought 20 million more ounces at $35. The announcement sent silver to $50. His net worth hit $11 billion. Then silver collapsed. From $50 to under $10 in eight weeks. Bunker Hunt went from the richest man in the world to virtually bankrupt in six to seven weeks. Tudor Jones took one lesson from watching it happen, passed down from his grandfather: "You are only worth what you can write a check for tomorrow."







