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Paul Tudor Jones profited in 1987 Black Monday by betting against stocks
On Oct. 19, 1987, the Dow suffered its biggest single-day drop on record, and Jones reportedly made $100 million from a short position.
Yahoo Finance highlights how hedge fund manager Paul Tudor Jones turned the 1987 stock market crash into a win, reporting that he made $100 million in a single day by betting against the collapsing market on Black Monday.
The piece recalls that on Oct. 19, 1987, the Dow Jones Industrial Average posted its largest one-day decline in history, wiping out billions of dollars of wealth within hours as some traders lost everything.
It frames Jones's approach as prioritizing risk control over aggressive gains, citing his view that the most important trading rule is to play great defense, not great offense.
The article says Jones later connected the 1987 drawdown to historical market comparisons, noting discussions with market strategist Peter Borish that pointed to similarities between the 1987 crash dynamics and the 1929 price moves.
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