if we go to war then we can be number 1. but i dont think we’re going to go war just cuz china beat us on a promotion.
What he said was that we would have a vaccine by the end of the year, or before that (which is silly: “by the end of the year” already means “or before that”) if we can. Which, of course, means that we’ll have it whenever we have it: 6 months, one year, ten years, whatever.
druckenmiller opining. every top dog og is sayign the same thing. most ppl that are bullish are not in the bbc.
Druck, the guy who quit just before one of the greatest bull markets in history because he couldn’t generate returns? Lololol
yep the same druckenmiller with 20% return per year for 12 years.
In 1985, he became a consultant to Dreyfus, splitting his time between Pittsburgh and New York, where he lived two days each week. He moved to Pittsburgh full-time in 1986, when he was named head of the Dreyfus Fund. As part of his agreement with Dreyfus, he also maintained management of Duquesne. In 1988, he was hired by George Soros to replace Victor Niederhoffer at Quantum Fund. He and Soros famously “broke the Bank of England” when they shorted British pound sterling in 1992, reputedly making more than $1 billion in profits, in an event known as Black Wednesday. They calculated that the Bank of England did not have enough foreign currency reserves with which to buy enough sterling to prop up the currency and that raising interest rates would be politically unsustainable.[5] He left Soros in 2000 after taking large losses in technology stocks.[6] Since then, he has concentrated full-time on Duquesne Capital. He is profiled in the book The New Market Wizards by Jack D. Schwager. According to Bloomberg News, on August 18, 2010, Druckenmiller announced the closing of his hedge fund “telling investors he’d been worn down by the stress of trying to maintain one of the best trading records in the industry while managing an ‘enormous amount of capital.’”[5] Duquesne Capital Management posts an average annual return of 30 percent without any money-losing year. His funds were down for about 5 percent when he announced his retirement in August. However, they had since erased the losses and closed with a small gain through successful bets that the market would rally in anticipation that the Federal Reserve would announce further “Quantitative Easing” to assist in reducing unemployment and avoid deflation.[7]
According to the Wall Street Journal , on August 18, 2010 Druckenmiller “told clients that he’s returning their money and ending his firm’s 30-year run, citing the ‘high emotional toll’ of not performing up to his own expectations.” He indicated it was not easy to make big profits while handling very large sums of money.[8]
Didn’t read it. It’s not 1985 guy admitted he can’t invest in the modern market and folded, they’re dragging up fossils that haven’t been relevant in 20 years to feed a garbage narrative to the rubes.
Well he’s either right or he’s wrong. Everybody’s entitled to their own opinion but I wouldn’t take it as gospel. It’s probably likely that broad indices are overvalued at the moment, but you could argue that’s due to the heavily weighted tech sector which has mostly benefited from this shutdown. It seems value stocks are significantly under performing so it’s hard to make a blanket statement covering the entire investment universe. Personally I’m not hesitating to pick up 7%+ yield in the financial sector at these prices.
Astute observation, a lot of people do not understand this is a bimodal market.
ooo this is interesting. what are the modes?
lol dafuq. he is still very relevant. he literally reports his filings to this day. the size is like 2.5b, granted its his own money. also you should know he is very tech heavy. he also had an interview a few years ago when buffett invested in ibm. etc etc
The mean valuations of corona’d names and the less sensitive names. It’s not really a continuous distribution, more two mega baskets.
How is that relevant? An old rich guy that got blown out in 2000 and never got his rhythm back managing his 1980’s money.
im guessing jim simmons’s ren tech medallion fund with 10b generating 50% per year is prolly non relevant as well.
Simmons placing trades now?
better question. do any of them place trades.
It’s irrelevant right, quant trading isn’t capitalizing on fundamental analysis or long term views.
haha yea. anyways just saw this pretty interesting chart.
and another member of the bbc. howard marks this market should not be at this price… https://www.cnbc.com/2020/05/18/oaktrees-howard-marks-thinks-the-market-comeback-has-gone-too-far.html?recirc=taboolainternal
You’re right Nerdy, you should liquidate your equity holdings since the only thing dumber than copy pasting headlines about who said what and betting against the Fed is saying one thing and doing another.
lol im actually considering paying off my loan and borrowing 100k. but whats stopping me is there is no place for me to go. the only cheap stocks are the ones that aare prolly going to get left behind and capitulate from cash burn. even money markets are yielding fracking nothing.