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Paul Tudor Jones

Things Paul Says on Podcasts

Where to Find Them

Paul Tudor Jones has been a guest on Squawk Pod (6 times) , Bloomberg Surveillance and Invest Like the Best (Patrick O'Shaughnessy) .

Recently: “Paul Tudor Jones’ Call for 2027 & Vibes 10/13/26” on Squawk Pod (October 2026); “Paul Tudor Jones with an AI Outlook 5/7/26” on Squawk Pod (May 2026); “Paul Tudor Jones - Lessons From 50 Years in Markets - [Invest Like the Best, EP.469]” on Invest Like the Best (Patrick O'Shaughnessy) (April 2026); “Paul Tudor Jones Makes a Big Market Call 10/6/25” on Squawk Pod (October 2025); “Paul Tudor Jones & Mattel CEO Ynon Kreiz 5/6/25” on Squawk Pod (May 2025); “Paul Tudor Jones: “We Are Going To Be Broke” 10/22/24” on Squawk Pod (October 2024).

What They Said

“Now, all of a sudden, we're getting that same issuance, but in the equity markets, right? SpaceX, OpenAI, Anthropic. Is there going to be a crowding out effect there? Is that going to create a bear market in 27? I'm sure 27, some point, I'll be short the whole year.” — Paul Tudor Jones, Squawk Pod

Jones comparing the coming wave of giant AI-era IPOs to 1998–2002, when unlocks kept adding supply and made those years the easiest to be short. He says insiders with no visibility into their businesses will want to diversify and sell.

Squawk Pod · 2026-10-13 Permalink → Listen →
Squawk Pod Around 25:41 into the episode
Speaker 4

…out and sovereigns may take us to the tipping point. And then, again, now that we've elevated interest rates by 100 basis points, if you just take the CBO baseline from last year, you've got to add $120 billion to the deficit because of the 100-basis point jumping in. So, you're Kevin Wars, though,

Andrew Ross Sorkin

what do you do?

Speaker 4

…path. I think he won't do that. And I think that's why I'm saying it's going to be challenging. It's going to be really challenging in the possibility of something breaking down the road. And particularly when I look at how the flow pictures shifted. If you think about it, we've seen what the hyperscaler issuance in the debt markets had done to corporate prices, corporate bond prices, right? Now, all of a sudden, we're getting that same issuance, but in the equity markets, right? SpaceX, OpenAI, Anthropic. Is there going to be a crowding out effect there? Is that going to create a bear market in 27? I'm sure 27, some point, I'll be short the whole year. There's just, there's little data. You're short the whole year? Oh, well, again, if I go back to 2000, you remember it. If I go back to 2000, so you had all this issuance, all these IPOs in 98 and 99, and really 2000, 2001, 2002, those were the easiest years to be short because you kept having these unlocks that just kept adding supply to the market. And I've got to think that on these unlocks…

Andrew Ross Sorkin

What have you been doing right now, I ask? Because I think last May you were talking about buying a lot of the hyperscalers and buying a lot of the AI-related tech stocks. Still there?

Speaker 4

At this moment, no. Again, for me, the tactical professional question is: are we going to get the fourth quarter run for the roses after these midterms? And maybe after Anthropic comes, are we going to get just the craziness that we typically see in December and January? And I'd say right now…

Andrew Ross Sorkin

If you're that worried, what do you think about the tools that Treasury Secretary Besson has or doesn't have? And the reason I ask is he's talked about being the house. He's talked about the buybacks or buying back treasuries. I don't know if you think that that can actually make a difference.…

Speaker names from our own diarization · position estimated from where the line sits in the episode
“No politician is going to voluntarily raise taxes or cut spending. They're going to be forced to. And the only question is, are we now at that tipping point where the market's about to do that? And if you put a gun to my head, I'd say 60-40, we're down that path.” — Paul Tudor Jones, Squawk Pod

Paul Tudor Jones, asked by Andrew Ross Sorkin where interest rates go, argues that AI-related corporate debt issuance on top of sovereign borrowing could push the bond market to a breaking point. He recalls a Senate majority leader telling him deficits would only be fixed when the market forced it.

Squawk Pod · 2026-10-13 Permalink → Listen →
Squawk Pod Around 23:53 into the episode
Speaker 4

No, I assume the president has a plan post-the election. Again, I don't know. I'm not privy to it, but I assume that he has a plan because clearly what's going on is untenable. It's not sustainable, I don't think, in the long run.

Andrew Ross Sorkin

Let me ask you separately just about interest rates because that's the other big issue. We're living with $40 trillion debt on our books. Where do you think interest rates go this year? What do you think happens next year?

Speaker 4

…that are so unsustainable, they break the stock market. I had an interesting conversation with a House, with the Senate majority leader who I'll leave unnamed, one of the parties. Okay. About eight or ten years ago, he said, listen, I can just tell you right now, we're never going to fix these deficits until the market makes us to. It's going to be just like 2008 and TARP. So that's the reality. No politician is going to voluntarily raise taxes or cut spending. They're going to be forced to. And the only question is, are we now at that tipping point where the market's about to do that? And if you put a gun to my head, I'd say 60-40, we're down that path. 60-40,

Andrew Ross Sorkin

we're down that path.

Speaker 4

We're down that path. But does

Andrew Ross Sorkin

that mean it has to happen tomorrow or does that mean it's a year or two? If

Speaker names from our own diarization · position estimated from where the line sits in the episode

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