Druckenmiller Interview - June 3rd

[muscleman]

Thanks for this new one.

 

I'm always slightly curious as to why he does something like CNBC.  I understand the other one - it's a friend, but he doesn't need to do CNBC - nothing to promote?  Maybe when I watch/read transcript it'll make sense.

 

Anyway, I really enjoyed the first one.  He's not always right, but always interesting.

 

I thought it noteworthy his line that most of his profits are from Bonds and Currencies.  It's a reminder that perhaps one shouldn't take so much notice of his 13Fs (even discounting the fact he's a trader, not a holder).

 

Soros book and Druckenmiller interview shows that they both architect the fund to buy a bunch of stocks as the bedrock, and then use that to get margin loans to trade bonds and currency futures. They think stocks are too illiquid for their size, so they would only use stocks as the bedrock, and use the borrowed money to trade liquid future contracts to reduce liquidity risk.

 

Both guys are macro traders. Their stocks are bought as a basket for any given sector. I don't know if they hire individual stock pickers for their fund.

 

[WayWardCloud]

So interesting to see how different interviewers can make or brake the quality of a talk with the same guest!

The first video is so deeply interesting I watched it twice and took notes. Meanwhile, CNBC just obsesses over kindergarten level politics and wastes the time of a great mind and of its listeners ::)