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Every published Margin of Pain file in one place. Newest first.
Paul Tudor Jones and the Moment Risk Becomes Tradeable
Paul Tudor Jones is still a trader first. His new interview is a reminder that a warning is not a trade.
Nick Leeson, Account 88888, and the Trade Barings Could Not See
Nick Leeson did not just make a bad bet on Japan. Barings let a losing book become an accounting fiction until the fiction needed more cash than the bank could survive.
Larry Williams and the Problem With a Record Year
Larry Williams is famous for turning a small futures account into a contest legend. The more useful story is what that record does not teach.
Stanley Druckenmiller and the Art of Waiting
A source-led dossier on Stanley Druckenmiller, patience, position sizing, asymmetric trades, and why his method is easy to admire but dangerous to copy.