Stanley Druckenmiller, Part 2: It's Good To Be Interesting
Listen now | "This is criminal. We have never felt more strongly about the bear side of this market and yet we ended up down for the quarter. Right then and there, we changed our investment philosophy."
Hello everyone, Welcome to the second part of my series on Stanley Druckenmiller (part 1). In this brief piece I’m going to cover the early 80s when Druckenmiller set up his own firm and struggled to build his business. I’ve found several themes that are quite common among investors: the transition from managing capital to also being a business owner can be rocky and the pressures of running a small asset manager can affect investment decision-making. Also, developing your own unique style can take many years. Druckenmiller continuously evolved his thinking and reflected on his mistakes.…
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