This is Stan Druckenmiller.
His hedge fund generated 30% returns for 30 straight years.
He called Nvidia, he called the housing crisis, and he nearly broke the Bank of England.
Here's 6 pieces of advice he gives investors:
His hedge fund generated 30% returns for 30 straight years.
He called Nvidia, he called the housing crisis, and he nearly broke the Bank of England.
Here's 6 pieces of advice he gives investors:
1) Focus on the future.
"Never, ever invest in the present. It doesn’t matter what a company’s earning, what they have earned... you have to visualize the situation 18 months from now, and whatever that is, that’s where the price will be.”
"Never, ever invest in the present. It doesn’t matter what a company’s earning, what they have earned... you have to visualize the situation 18 months from now, and whatever that is, that’s where the price will be.”
2) Learn multiple asset classes.
“I was also lucky to travel across asset classes. I traded commodities, currencies, bonds, and equities, and it gave me the discipline, if I didn’t have a good idea in equities, I was happy to have no equities.”
“I was also lucky to travel across asset classes. I traded commodities, currencies, bonds, and equities, and it gave me the discipline, if I didn’t have a good idea in equities, I was happy to have no equities.”
3) Know when to participate.
“The mistake I’d say 98% of money managers and individuals make is they feel like they got to be playing in a bunch of stuff. And if you really see it, put all your eggs in one basket and then watch that basket very carefully."
“The mistake I’d say 98% of money managers and individuals make is they feel like they got to be playing in a bunch of stuff. And if you really see it, put all your eggs in one basket and then watch that basket very carefully."
4) Don't be afraid to bet big.
“If there’s one thing I’ve learned from him (George Soros), it’s that when you’re right, and you know something, you really feel it, you can’t have enough.”
“If there’s one thing I’ve learned from him (George Soros), it’s that when you’re right, and you know something, you really feel it, you can’t have enough.”
5) Find a great mentor.
"If you’re early on in your career and they give you a choice between a great mentor or higher pay, take the mentor every time. It’s not even close."
"If you’re early on in your career and they give you a choice between a great mentor or higher pay, take the mentor every time. It’s not even close."
6) If you actively invest, make sure it's your passion
"The problem with this business if you're not passionate, it is so invigorating to certain individuals, they're going to work 24/7, and you're competing against them."
"The problem with this business if you're not passionate, it is so invigorating to certain individuals, they're going to work 24/7, and you're competing against them."
Here's what his portfolio looks like today:
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