Druckenmiller also invested $1 billion at the time of the founding of PointState Capital, a hedge fund started in 2011 by former Duquesne money managers. In December 2021, he was estimated to have more about $1.7 billion with PointState and other hedge fund managers, based on a Bloomberg index of hedge fund returns. The Druckenmiller Foundation generally funds efforts to fight poverty, promote medical research, and support education. However, the foundation has also supported left-leaning environmentalist causes. A retired hedge-fund manager of 30 years, Stanley Druckenmiller is worth approximately $4.8 billion .
Stanley Druckenmiller Buys the Dip on Nvidia, Exits Amazon – GuruFocus.com
Stanley Druckenmiller Buys the Dip on Nvidia, Exits Amazon.
Posted: Wed, 22 Feb 2023 08:00:00 GMT [source]
The best thing I can do is to make the highest return I can. Our investment philosophy, in my day job and in philanthropy, the philosophy is the same. There are a couple of red lines that we don’t invest in because we don’t like how they make their money. There are a few areas, but we don’t like to talk about it publicly. All hedge fund data is based on the exclusive group of 900+ funds tracked by Insider Monkey that filed 13Fs for the Q reporting period. Druckenmiller was further loading up on defensive stocks during the quarter, increasing his family office’s exposure to consumer discretionary and health stocks, while paring back his bets on IT, energy, and materials companies.
Stanley Druckenmiller: There’s Less Than A Handful Of People That Can ‘Pull The Trigger’ When It’s All On The Line
But right now, my daughters are young and extremely busy. Two of them are raising children and have full-time jobs. For some of my peers, it becomes the primary job of their children. They all have incredibly interesting jobs and that’s their focus. But I have no doubt they’ll be increasingly involved over time.
At the https://forexarena.net/ Conference in September, Druckenmiller stated that he “would be stunned” if there isn’t a recession next year. Stan Druckenmiller’s Duquesne Capital is a family office that primarily manages the billionaire money manager’s personal fortune, which stands at about $6.8 billion according to Forbes. Druckenmiller made his billions by being one of the most successful investors of the 1990’s and 2000’s, averaging returns of greater than 30% annually over a period spanning more than two decades.
He left Soros in 2000 after taking large losses in technology stocks. Since then, he has concentrated full-time on Duquesne Capital. He is profiled in the book The New Market Wizards by Jack D. Schwager. His funds were down for about 5 percent when he announced his retirement in August. The following data is gathered from Duquesne Capital’s latest 13F filing with the SEC.
The buy price is calculated from the weighted average of all purchases since the last sell-out of the investor. In case the buy price of a purchase wasn’t reported, the average price during the reported period is taken. The technology behind ChatGPT is “showing all the usual hallmarks” of investing fads like cannabis and meme stocks, yet something suggests the tech is worth “considering seriously,” says Morgan Stanley.
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I don’t think of it in terms of giving back or an obligation. We do it because it gives us immense pleasure to try to help solve some of the gaps and problems in this country. She comes up with ideas she likes, and I come up with ideas I like. We don’t measure whether it’s split down the middle. It really doesn’t matter because I love everything she’s initiated and I think she likes the stuff I’ve done. My middle daughter has a Ph.D. in environmental economics, and we’ve got some ideas from her.
Stan Druckenmiller’s Big Fourth-Quarter Moves – Institutional Investor
Stan Druckenmiller’s Big Fourth-Quarter Moves.
Posted: Fri, 17 Feb 2023 08:00:00 GMT [source]
We’re more of the model, if you find a great leader, and find out they can scale well, just continue funding them. That’s why we’re pretty much steady as you go — and incredibly excited about the stuff we’re doing. Though if something new comes up, that would be wonderful. He quit two semesters into his coursework for an economics doctorate at the University of Michigan, opting to take a job as a stock analyst at the predecessor to PNC Financial Group. He ascended quickly and was named research director and then head of investments in 1979. He started Duquesne Capital Management in 1981 with $1 million in various separate accounts.
The Stanley Tumbler Is Back In Stock (And Available In A New Matte Shade)
In November 2020, he stated that he owned both gold and bitcoin. Druckenmiller was born in Pittsburgh, Pennsylvania, the son of Anne and Stanley Thomas Druckenmiller, a chemical engineer. He grew up in a middle-class household in the suburbs of Philadelphia.
We follow hedge funds and family offices like Duquesne Capital because Insider Monkey’s research has uncovered that their consensus stock picks can deliver outstanding returns. He then focused on Duquesne and continued his successes, boasting an annualized 30 percent return for his career when he decided to close the hedge fund in 2010, tired of the stress of managing other people’s money. He continues to operate Duquesne as a family office in New York, where he lives with his wife.
He is estimated to be worth approximately $4.8 billion. If I don’t make enough money to cover expenses, we don’t put a lot in that year. I hope we put a lot into the foundation, because it means I made a lot of money and been a success. Much more importantly, we’ll get the joy of hopefully funding successful outcomes.
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- From 1988 through 2000, Druckenmiller worked with George Soros to oversee the Quantum Fund.
- The technology behind ChatGPT is “showing all the usual hallmarks” of investing fads like cannabis and meme stocks, yet something suggests the tech is worth “considering seriously,” says Morgan Stanley.
- After graduating in 1971 from Collegiate School in Richmond, Virginia, he attended Bowdoin College in Brunswick, Maine.
- Hopefully, I’ll live long enough and Fiona will live long enough, that we’ll have been able to fund a lot of satisfactory outcomes.
Most of his money is managed through Duquesne Family Office, a New York-based investment group he started with $3 billion in 2010. In this article, we’ll check out the top ten stock picks in Stanley Druckenmiller’s portfolio as of September 30 to see which companies the legendary investor has conviction in during these chaotic and unpredictable times. You wouldn’t know Druckenmiller was as bearish on the state of things as he is given his family’s office trading activity in Q3. Duquesne Capital found plenty of stocks to buy, adding 28 new holdings to its 13F portfolio, while parting ways with just six former holdings. Three of those new additions now rank among the firm’s top ten stock picks. The Fed is now in the middle of its most aggressive pace of tightening since the 1980s.
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Druckenmiller was an avid Little League pitcher, and excelled at sports including golf, bocce and badminton. After graduating in 1971 from Collegiate School in Richmond, Virginia, he attended Bowdoin College in Brunswick, Maine. The six foot five inch student gained a reputation as an expert pool player who could practice because he didn’t need to study for classes. He acted in a couple of plays, and graduated magna cum laude in 1975 with a bachelor’s degree in English and economics.
Our highly-specialized educational programs shape leaders to be at the forefront of cancer care and research. Our scientists pursue every aspect of cancer research—from exploring the biology of genes and cells, to developing immune-based treatments, uncovering the causes of metastasis, and more. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. In a statement, Ms. Druckenmiller said that she and her husband believe scientific discoveries in neuroscience and stem cell research will one day benefit and lengthen the lives of many people. “Every family is affected in one way or another by brain disorders or brain aging,” she noted.
Thttps://forexaggregator.com/ a few buckets Fiona and I really care about, though I don’t really want to prioritize them in terms of passion. I’m a huge believer in the American dream, even though I grew up in the middle class with a proper education. As great as America is, I think that’s open to maybe 90% to 95% of our population. There are pockets or neighborhoods where kids just don’t have a chance. I’m not an “equal outcome” guy, but I am an “equal opportunity” guy. Druckenmiller is again looking for stuff to short in the coming year, including stocks and the U.S. dollar, given his bearish outlook on not only the near-term state of the market, but a much longer view of it as well.
Druckenmiller read “The Alchemy of Finance” by George Soros and recognized they shared the same investment style. Soros hired him to run his biggest hedge fund, Quantum, in 1988. That year Druckenmiller divorced his college sweetheart and married Fiona Biggs, a star analyst at Dreyfus and the niece of famed investor and market prognosticator Barton Biggs. Druckenmiller’s fortune is derived from the proceeds he’s earned running hedge funds for more than 30 years.
In 2020, after the stock market crash and subsequent rally above pre-crash levels, Druckenmiller said he expects inflation in the US economy due to actions taken by the Federal Reserve. Druckenmiller is a top-down investor who adopts a similar trading style as George Soros by holding a group of stocks long, a group of stocks short, and uses leverage to trade futures and currency. In early 2019 he held large positions in Microsoft, Abbott Laboratories, Salesforce.com, Delta Airlines, and American Airlines.
In terms of colleges, that was early on in our philanthropic journey. We didn’t really know what we were doing or where in the early ’90s. Like everybody else, you give to college and to institutions. But over time, we thought we could have a bigger impact, priority-wise, in the three spaces I talked about. A lot of philanthropy likes to continue putting little bits of money into new areas, things like that.