Billionaire Paul Tudor Jones' Fund Just Sold Boeing and Bought This Popular Cryptocurrency Instead

There aren't too many better investors than the billionaire hedge fund manager Paul Tudor Jones. Jones launched Tudor Investment Corp in 1980. In 1987, Jones correctly predicted the stock market crash on Black Monday when the Dow Jones fell by an incredible 22%. More than four decades after launching Tudor Investment Corp, Jones still serves as the chief investment officer of the company, which has reportedly generated average annual returns of 19%, according to Hedge Fund Alpha. These accomplishments have made Jones and his firm a must-watch for stock ideas. Recently, Tudor Investment Corp sold Boeing (NYSE: BA) and bought this popular cryptocurrency instead.Tudor Investment Corp sold its equity position in Boeing in the third quarter and owns many more put options than calls. Puts make money when a stock declines by a certain amount, so Tudor appears bearish on Boeing. Tudor Investment Corp owns more than 2,600 positions, 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 likely seen Boeing in the headlines. In January, an Alaska Airlines flight using a Boeing plane was cut short after one of the plane doors was ripped off its hinges. Other airlines found more loose parts on Boeing 737 MAX 9 Jets, leading to scrutiny from the Federal Aviation Administration (FAA) and National Transportation Safety Board (NTSB).Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool