In 1980,
Paul Tudor Jones founded the Tudor Investment Corporation.
Commodities Corporation was one of the first clients to invest into the firm where it provided $30,000 to manage. On the day of
Black Monday, October 19, 1987, Jones accurately predicted there would be a
stock market crash. In February 1990, Jones bought put options for the Japanese stock market. In 1996 the firm agreed to pay fines to the
U.S. Securities and Exchange Commission totalling $800,000, the second-largest ever levied at the time for a non-fraud case, for violating the
uptick rule, part of the
Securities Exchange Act of 1934 that prohibits the sale of a borrowed stock while the stock is declining. The trades in question were performed on March 15 and 16, 1994. In that year investors pulled out over $1 billion from the firm. The firm also had to cut fees. In 2022, Jones stated that the firm will be increasing its trading in
cryptocurrencies as a way to protect against rising inflation. ==References==