There aren’t many better investors than billionaire hedge fund manager Paul Tudor Jones. Jones created Tudor Investment Corp in 1980. In 1987, Jones correctly predicted the stock market crash on Black Monday when Dow Jones It’s down an incredible 22%. More than four decades after launching Tudor Investment Corp., Jones still serves as chief investment officer at the company, which is said to have generated average annual returns of 19%, according to Hedge Fund Alpha. These accomplishments have made Jones and his company a place to watch for stock ideas. Recently, it sold Tudor Investment Company Boeing (NYSE: BA) This bought popularity Cryptocurrency instead of.
Tudor Investment Corp. sold its position in Boeing stock in the third quarter and has many more put options than call options. You make money when the stock price falls by a certain amount, so Tudor looks bearish on Boeing. Tudor Investment Corp. has more than 2,600 jobs, so we don’t know if Jones had anything to do with this sale.
If you’ve been following the news this year, you’ve probably seen Boeing in the headlines. In January, A Alaska Airlines A flight using a Boeing jet was cut short after one of the plane’s doors was ripped off its hinges. Other airlines have found more loose parts on Boeing 737 MAX 9 planes, prompting scrutiny by the Federal Aviation Administration (FAA) and the National Transportation Safety Board (NTSB).
This is not the first time that Boeing has faced problems with its 737 MAX aircraft. Two fatal crashes in 2018 and 2019 led to the global grounding of the 737 MAX, and Boeing’s Maxjet failed 37% of FAA audits. After the door accident in January, the FAA allowed the 737 Max 9 to resume flights but halted production of the Max 9 model until Boeing gained better control over its inspection process.
Boeing recently resumed production of the 737 Maxjet after a labor strike, which ended with Boeing giving its workers a 38% pay increase over the next four years. These difficulties have translated into losses of more than $8 billion this year and negative operating cash flow, a trend that is expected to continue into 2025. Boeing will likely always remain an important part of the U.S. economy, but turning this company around will take time. around.
Jones has been vocal about his support for Bitcoin (Crypto: Bitcoin)the world’s largest cryptocurrency, and Tudor Investment Corp supported this view in the third quarter of the year, increasing its position in the market. iShares Bitcoin Trust ETF (NASDAQ:EBIT) By more than 400%.
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