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Tudor Jones on why he started new ETF: True social change has to start with business

CNBC
Tudor Jones on why he started new ETF: True social change has to start with business

Paul Tudor Jones, the reclusive hedge fund manager who called the October 1987 crash, spoke Tuesday on CNBC's "Squawk Box" about investing based on social impact. Goldman Sachs is launching an exchange-traded fund (Ticker: JUST) using a model from Jones' foundation, Just Capital, that scores businesses based on worker treatment, environment, products and other factors. The ETF tracks a selection of Russell 1000 companies, including Apple, Amazon.com and Bank of America. In an interview with Goldman Sachs earlier this year, Jones recommended investors stay in cash or buy commodities and "hard assets." The hedge fund manager also said at the time there were bubbles in stocks and bonds, and predicted