Paul Tudor Jones (Trades, Portfolio), founder of Tudor Investment Corporation, joined CNBC Monday in a wide-ranging interview covering the stock market, Amazon (AMZN, Financial) and the economy.
Jones invests based on macro trends and quantitative strategies at his $13 billion hedge fund. Since its inception in 1980, it has generated double-digit annualized returns.
In the interview, Jones discussed the exchange-traded fund he created in the spring that ranks companies based on the way the public perceives them. Microsoft (MSFT, Financial) made its top position primarily for its pay equity for male and female workers. Amazon, he said, will move up the list from its position as No. 30 for raising its worker pay to $15 per hour.
“When I think about worker pay and going to $15 – okay, you know what, so maybe it’s going to cost a little bit in terms of ROE, but in the long run, if we don’t do this, we’re going to lose our whole form of capitalism,” Jones said.
Jones later commented on the economy, saying that the Fed is hiking interest rates while economic data is indicating that is a better time to cut rates. He expects a hike next week but not in 2019.
“There is a high probability that this hike will be assuming they hike will be the last one for a long time,” Jones said.
See Paul Tudor Jones (Trades, Portfolio)' portfolio here.
Watch CNBC's full interview with Paul Tudor Jones from CNBC.
