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Stanley Druckenmiller Part 3: The Crash of 1987

alchemy.substack.com · 722 words · saved by 1 readers

“Probably one of my greatest assets over the last 30 years is that I’m open-minded and I can change my mind very quickly.”

Hello everyone, This is the third part of my series on Stanley Druckenmiller (part 1, part 2). This piece is about 1987, a period that illustrated his legendary open-mindedness, speed, and aggressive trading style. Druckenmiller’s agility stood in sharp contrast to George Soros who struggled to navigate the crash and committed what Sebastian Mallaby called “perhaps the worst call of his career.” On Friday, Oct. 16, 1987, Stanley Druckenmiller walked over to the office of George Soros, his new investing idol. Druckenmiller had started the year long stocks and by early summer he started…

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