Punit

I have written frequently about why India needs to be an inventor and producer of critical tech and deep tech, for both strategic security and economic development reasons. Recently, I sat down with @ishmohit1 of @soicfinance to discuss on deep tech investing in detail - what the structural drivers are for the deep tech takeoff underway in India, why the shift is here to stay, and some examples of pioneering deep tech leaders @atherenergy @BotLabDynamics @RoboticsUnbox. Do watch!📺youtu.be/EHA3IOxbwFU?si… @soicfinance is a terrific knowledge platform sharing excellent content on investing and finance - a special thanks to @ishmohit1 for inviting me!

Startup Founder Says Rs 40 Crore Needed To Retire In India, Internet Calls It "Mind-Boggling" ndtv.com/feature/startu…

x.com/i/article/2049…

I first read this post on PTJ by @trengriffin more than a decade ago, and it's a great complement to the episode. It's a collection of lessons and quotes, and remains one of the best summaries of how Paul approaches trading and what separates him from everyone else. Well worth reading (or revisiting). 1/ "The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge." 2/ "Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that you are very good. The second you do, you are dead." 3/ "While I spend a significant amount of my time on analytics and collecting fundamental information, at the end of the day, I am a slave to the tape and proud of it." 4/ "I love trading macro. If trading is like chess, then macro is like three-dimensional chess. It is just hard to find a great macro trader. When trading macro, you never have a complete information set or information edge the way analysts can have when trading individual securities." 5/ "I really don't care about the mistake I made three seconds ago in the market. What I care about is what I am going to do from the next moment on. I try to avoid any emotional attachment to a market." 6/ "I am always thinking about losing money as opposed to making money. At the end of the day, the most important thing is how good are you at risk control." 7/ "I want the guy who is not giving to panic, who is not going to be overly emotionally involved, but who is going to hurt when he loses. When he wins, he's going to have quiet confidence. But when he loses, he's gotta hurt." 8/ "I've done really well on the short side. There's nothing more exciting than a bear market.  But it's not a wonderful way for long-term health and happiness." 9/ "The sweet spot is when you find something with a compelling valuation that is also just beginning to move up. That's every investor's dream."

My guest today is Paul Tudor Jones (@ptj_official), one of the greatest macro traders of all time. He correctly predicted the 1987 stock market crash and shorted the Japanese bubble in 1990. For over 40 years, his flagship fund has had a negative correlation to the S&P 500. 100% of his returns are alpha. He says today's market has so many similarities to 2000, "the easiest bear market I've ever seen in my whole life." He makes the case for going long dollar-yen, why Bitcoin beats gold as an inflation hedge, and why he was wrong about Warren Buffett. But what I'll remember most from this conversation is Paul's zest for life. He's 71 and still wakes at 2:30 every morning to trade the London open. He works out for two hours a day. He walks with his wife every evening. He travels the country chasing peak spring and peak fall. He's so excited about the songs picked for his funeral that he wishes he could be there to hear them. Paul has lived five lifetimes in one. He's one of the most entertaining and interesting people I've met, and the conversation will leave you searching to be as passionate about what you do as he is about what he does. Enjoy! Timestamps: 0:00 Intro 1:00 The Kindest Thing 13:19 Trading vs. Investing 17:33 Lessons from Warren Buffet 22:24 The Existential Risks of AI 29:54 The Nature of Trading 31:46 Bitcoin 35:55 Bubbles 42:08 A Day in the Life of PTJ 46:00 Information Overload 47:07 Passion for Markets 50:49 The Robin Hood Foundation 54:18 The Workless World 56:03 Journalism 1:00:00 Principal Components of a Great Life 1:05:06 Kill Them With Kindness