Was just saying that the trade he is most known for and that you cited, was not his idea. No need to get excited
Now you are digging up any kind of trades? That wasn't a forex trade. Not to mention you can only lose a billion when you have a billion to start out with. But I got it, he is a billionaire many times over by accident since he obviously can't trade. And if he ever made a profitable trade that wasn't his idea.
He is one of the traders/investors I admire, very impressive long term record, one of the very best. He is still a billionaire many times over, for a long time only traded his own funds, got to show, if you are really good, you don't need OPM. Take a look at his speech at the Lost Tree Club in 2015: https://www.valuewalk.com/2015/04/druckenmiller-lost-tree-club/ and if you want the full transcript: https://www.valuewalk.com/wp-content/uploads/2015/04/Druckenmiller-_Speech.pdf
Thank you so much Ironchef for giving us this valuable link. For those who will read this and pay close attention, there is much valuable insight in Druckenmiller's remarks. I have read virtually everything I can get my hands on that George Soros has written re trading , if you want to call it that. There is not really a good term to describe the kind of trading Soros did with Druckenmiller, and to a lesser extent before with Jim Rogers. I guess it is basically trading based on macroeconomic insight, and what central banks are doing. But I don't know that there is a simple phrase to describe it. Anyway I began to make very good returns after I studied Soros and learned from him. One of the most interesting things to me was Druckenmiller's comments on Greenspan's easy money policy leading up into the 2004 election. That was at a time when we were clearly beyond the recession and beyond the time that one would expect the central bank to continue loosening. I commented on this myself here on ET years ago now, and was pleased to see that Druckenmiller's remarks were precisely in line with my comments of years back. I said at that time that i thought it must be because Greenspan is a political animal and he didn't want to do anything to upset the apple cart going into the 2004 election. It was a mistake of course for him to keep rates so low so long. In fact, if I remember correctly he even reduced them further in the early winter of 2003. This was central bank malpractice, and I said so. There is great advice here and terrific insight into how macroeconomics can tip us off int Thank you so much Ironchef for giving us this valuable link. For those who will read this and pay close attention, there is much valuable insight in Druckenmiller's remarks. I have read virtually everything I can get my hands on that George Soros has written re trading , if you want to call it that. There is not really a good term to describe the kind of trading Soros did with Druckenmiller, and to a lesser extent before with Jim Rogers. I guess it is basically trading based on macroeconomic insight, and what central banks are doing. But I don't know that there is a simple phrase to describe it. Anyway I began to make very good returns after I studied Soros and learned from him. One of the most interesting things to me was Druckenmiller's comments on Greenspan's easy money policy leading up into the 2004 election. That was at a time when we were clearly beyond the recession and beyond the time that one would expect the central bank to continue loosening. I commented on this myself here on ET years ago now, and was pleased to see that Druckenmiller's remarks were precisely in line with my comments of years back. I said at that time that i thought it must be because Greenspan is a political animal and he didn't want to do anything to upset the apple cart going into the 2004 election. It was a mistake of course for him to keep rates so low so long. In fact, if I remember correctly he even reduced them further in the early winter of 2003. This was central bank malpractice, and I said so. There is great advice here and terrific insight into how macroeconomics can tip us off into what's coming next. We never know the timing very accurately, but if we are patient, even if we are too early, o what's coming next. We never know the timing very accurately, but if we are patient, even if we are too early, we can profit. Thank you again for this great contribution to ET.
No need to thank me. I learned a lot from reading your posts. As for my post, I just wanted to point out that often time, journalists liked sound bites and sensation so they could sell/get eyeballs. The real teaching got lost in the "translation". Regards,
Druckenmiller & Soros - when they watched the film 'The Big Short' they must have thought "what a bunch of noobs, now try doing that for 30 years in a row"