Hedge fund billionaire Paul Tudor Jones believes that it is difficult for women to become successful traders because of the gender’s emotional nature.
The Washington Post reported that Jones, the founder of Tudor Investment Corporation, told an audience at a symposium held at the University of Virginia in April that the industry will likely continue to be dominated by men as a result of women’s vulnerability to emotional events, such as child bearing and divorce.
As an example, Jones referenced two women who worked with him at a stock brokerage in the 1970’s who “no longer had the laser focus needed for the intense world of macro trading” after marriage and children.
Jones also added that while women are “very capable” in succeeding in the industry, life-changing event such as a divorce would have a greater negative impact on women than men.
Despite the remarks, Jones told the Post in a statement that he has encouraged all three of his daughters “to go into macro trading, [and that] any man or woman can do anything to which they set their heart and mind.”
Jones has also apologized, calling his remarks at the symposium “off-the-cuff.”
Based in Greenwich, Conn., Tudor Investment has about about $13 billion in assets under management.