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, 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
Free Trial: https://confirmsubscription.com/h/signup/t/CBDE5ADDD9C6BAC5
Sponsor of Chat With Traders Podcast:
Trade The Pool: http://www.tradethepool.com
________________________________________
Time Stamps:
Please note: Exact times will vary depending on current ads.
00:00 What a $450M Portfolio Manager Learned From Paul Tudor Jones
06:43 How Your Background Influences the Way You Trade
12:27 Winning 55% of the Time vs. Cutting Losses and Letting Winners Run
17:05 Managing an Internal Hedge Fund with $50 Million in Capital
22:22 Why Time Horizon Matters and Matching Risk Parameters
29:06 Why Being a One-Dimensional Trader Leads to Failure
32:30 Overview of the 5 Macro Pillars Framework
38:57 What Is the Difference Between Good and Bad QE?
44:35 Why the Move Index Is So Important
53:20 Why Starting a Career with a Big Win Can Be Bad News for Traders
58:13 Key Takeaways from Treasury Bond Announcements and Issuance
01:02:48 Memorable Stories and Hard Lessons Over a 35-Year Career
01:08:12 Adapting to Market Shifts When Other Traders Refuse to Change
01:12:17 Why Many People Enter Trading for Freedom and the Reality
01:14:57 Crucial Advice for Beginner Traders
01:15:41 Where to Find Andrew Perry and Access a Free Trial of Macro Pillars
________________________________________
Trading Disclaimer:
Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.
#andrewperry #paultudorjones #macropillars #macroglobal #portfoliomanagement #hedgefund #tradingpsychology #tradingdiscipline #riskmanagement #bondmarket #moveindex #tradingstrategy #daytrading #tradereducation #chatwithtraders