334 · Andrew Perry - What $450M Portfolio Manager Learned From Paul Tudor Jones

Andrew Perry spent over 35 years at the intersection of institutional macro research and active portfolio management, including five years as a portfolio manager at Tudor Investment Corporation under Paul Tudor Jones. Managing up to $450 million, Andrew developed a disciplined, multi-dimensional framework to understand where global markets are going and how to structure trades with strict risk management.

After entering the financial markets during the 1987 crash, Andrew learned firsthand how market regimes and trader psychology shape long-term survival. Today, through Macro Pillars, he distills decades of experience into a structured 5-pillar approach, combining government policy, nontraditional liquidity, monetary mechanics, technicals, and price execution, to help traders separate market noise from real edges.

In this conversation, Andrew shares the priceless lessons learned from working alongside legendary trader Paul Tudor Jones, why time horizon and adaptability outweigh being right, and how major market dates (like Treasury funding shifts) create key structural turning points.

In this episode, we explore:• What $450M Portfolio Manager Learned From Paul Tudor Jones• Andrew’s entry into markets during the 1987 crash and how it shaped his view of risk• Life inside Tudor Investment Corporation and managing capital at scale• Why winning 55% of the time is enough when risk-reward is properly managed• The 5-part Macro Pillars framework: Policy, Liquidity, Monetary Mechanics, Technicals & Execution• The significance of non-traditional liquidity, Treasury issuance, and key dates• Understanding the Move Index (bond volatility) as a key indicator over the VIX

About Andrew Perry:Andrew Perry is an institutional macro portfolio manager with over 35 years of market experience. He previously managed FX risk at Commonwealth Bank of Australia, served as a Portfolio Manager at Tudor Investment Corporation, and held senior trading roles at Nomura. He is the founder of Macro Pillars, a service designed to provide professionals with a rigorous, independent perspective on macro markets and liquidity.

Links + Resources:Website: https://macropillars.com/Twitter/X: https://x.com/MacroPillars_Youtube: https://www.youtube.com/@MacroPillars

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