Contrarian investor Mike Dever shared with us 2 vital lessons he learned from his highly profitable association with legendary trader Paul Tudor Jones
Mike Dever is the CEO of Brandywine Asset Management, and an investor with 40 years' experience.Dever says Jones delivered huge returns for Dever's clients, and explains what he learned from Jones.He's run Brandywine Asset Management for more than 40 years and published a book called"Jackass Investing" about the myths that make people invest irrationally and lose money.
So Dever turned to Jones, who was already being recognized for an aggressive and very successful approach. That was enough to satisfy most of Dever's investors, although he recalls that some withdrew their money after a three-month period of losses — and missed out on a couple of years of huge gains.According to an investor letter Dever forwarded to Insider, Jones' Tudor Futures Fund reported net asset growth of more than 1,900% from September 1984 to August 1989. By the latter date, the Tudor Group had accumulated more than $500 million in assets under management.
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