This Wall Street legend will be out of stocks by Christmas
Stanley Druckenmiller misread the V-shaped recovery, but the refusal of central banks to retreat from loose monetary policy has him considering an exit from equities.Â
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Stanley Druckenmiller, the much admired hedge fund manager who famously helped George Soros âbreakâ the British pound in the early 1990s, has a simple message for investors patting themselves on the back for the way theyâve navigated markets in the last 12 months.
âA monkey could make money in this market.â
The billionaire told CNBC on Tuesday night (AEST) that his family office, Duquesne Capital, had delivered a 42 per cent return in 2020 and was up 17 per cent so far this year; six outside money managers he uses have done much better than him, he said.