Tudor Jones and Powell’s Little Big Horn
In June 1876 several hundred men, led by an overly confident Lt Colonel George Armstrong Custer, 7th Calvary Regiment of the U.S. Army, rode into an area in what is now southern Montana near the Little Big Horn river.
They engaged an Indian village there and grossly underestimated the strength of their opponent. They ran into several thousand, very unhappy Lakota Sioux and Cheyenne Indians.
In what is now known as Custer’s Last Stand, Lt. Colonel Custer and about 210 of his men, were completely overwhelmed and wiped out.
Legendary hedge fund manager Paul Tudor Jones spoke to Goldman Sachs last week. Mr. Jones is the founder of Tudor Investment Corporation, one of the oldest and best known hedge funds in the industry.
He touched on several topics with Goldman Sachs including inflation, interest rates, bonds, the tax cuts, market volatility, central banks, and the stock market. Continue reading
The financials had the biggest move of all the industry sectors that dropped last week, down 2.9%. Is this the end of their rally? They do look like they are starting to roll over.