Investors must adapt to the Internet and other changes in world markets, fund manager Paul Tudor Jones says.
“The only thing that’s constant is that everything’s constantly changing,” Jones said in a speech at a charity lunch in London. “Fund managers must adapt, adapt, adapt.”
Jones is known for his charitable causes. He founded the Robin Hood Foundation, which has spent almost $100 million to help fight poverty in New York.
In the early 1990s, he took up the cause of saving the Everglades from sugar plantations and urban sprawl.
Jones, founder of Tudor Investment Corp., rarely speaks in public and tends to keep his performance record to himself and his investors.
But he broke his silence to offer a few words of advice to fund managers:
“Some thematic approach that’s always going to serve you just doesn’t exist,” he said. “Much of what was driving currencies in the 1980s was international capital flows. Today equities are the primary determinant.”