dcollon Posted September 11, 2013 Share Posted September 11, 2013 Stanley Druckenmiller on Bloomberg http://www.bloomberg.com/video/stan-druckenmiller-on-entitlements-fed-strategy-APL5~64SR1Ks2zqP6s6g7w.html Link to comment Share on other sites More sharing options...
Guest wellmont Posted September 11, 2013 Share Posted September 11, 2013 thanks for posting! Link to comment Share on other sites More sharing options...
enoch01 Posted September 11, 2013 Share Posted September 11, 2013 Great interview, thanks. Link to comment Share on other sites More sharing options...
JEast Posted September 11, 2013 Share Posted September 11, 2013 I liked the FED and Strategy discussion. Maybe I liked it because my ears perked up when he hinted that he was long bonds several months ago (reading between the lines) because he thought the market might turn down, but admitted he was totally wrong. Or maybe I was hearing things due to my own bias, ha ha. Link to comment Share on other sites More sharing options...
original mungerville Posted September 12, 2013 Share Posted September 12, 2013 Yes, he said he thought bonds would rise and got caught by the hinting of tapering. Link to comment Share on other sites More sharing options...
fareastwarriors Posted December 8, 2013 Share Posted December 8, 2013 Druckenmiller on Charlie Rose. (video) http://www.bloomberg.com/video/druckenmiller-i-like-winning-more-than-being-rich-z_Md_yn8QESqlLLeX3ZGRA.html Druckenmiller: I Like Winning More Than Being Rich and short blurb on Business Week (article) http://www.businessweek.com/articles/2013-12-05/stanley-druckenmiller-on-entitlement-and-tax-reform-george-soros#r=nav-r-story Link to comment Share on other sites More sharing options...
dcollon Posted December 9, 2013 Author Share Posted December 9, 2013 Thanks for posting the interview with Charlie Rose. I really hope this topic gets more traction. Link to comment Share on other sites More sharing options...
HJ Posted April 12, 2015 Share Posted April 12, 2015 Transcript of a talk he gave. http://images.businessweek.com/bloomberg/pdfs/BN_0850499D_041015_19334.pdf Link to comment Share on other sites More sharing options...
Guest JoelS Posted April 12, 2015 Share Posted April 12, 2015 Transcript of a talk he gave. http://images.businessweek.com/bloomberg/pdfs/BN_0850499D_041015_19334.pdf Very nice, thank you. Link to comment Share on other sites More sharing options...
VersaillesinNY Posted April 15, 2015 Share Posted April 15, 2015 Stan Druckenmiller: Zero-Interest Rates Unnecessary Now - 40 min interview on Bloomberg http://www.bloomberg.com/news/videos/2015-04-15/stan-druckenmiller-zero-interest-rates-unnecessary-now Link to comment Share on other sites More sharing options...
Jurgis Posted April 15, 2015 Share Posted April 15, 2015 Great talk transcript. Edit: great interview too. I mostly agree with him. :) Link to comment Share on other sites More sharing options...
crastogi Posted April 16, 2015 Share Posted April 16, 2015 Thanks! Link to comment Share on other sites More sharing options...
AtlCDore Posted April 16, 2015 Share Posted April 16, 2015 Thanks for posting. Wasn't Drunkenmiller's annualized return in the 30% ballpark? Link to comment Share on other sites More sharing options...
WolfOfMainStreet Posted April 17, 2015 Share Posted April 17, 2015 Does anyone have any data that supports his claim that lots of debt is used for job destructive LBOs/M&As? I was just talking about this with a friend of mine. If these financial moves cut jobs significantly on average then aggregate demand will go down and the LBO/M&A return would be affected as well. Kind of like a double edged sword beyond some threshold. Link to comment Share on other sites More sharing options...
HJ Posted April 17, 2015 Share Posted April 17, 2015 Does anyone have any data that supports his claim that lots of debt is used for job destructive LBOs/M&As? I was just talking about this with a friend of mine. If these financial moves cut jobs significantly on average then aggregate demand will go down and the LBO/M&A return would be affected as well. Kind of like a double edged sword beyond some threshold. Evidence is anecdotal. But a lot of these activities are centered around the idea of synergy, aka job cuts. The hope is capital created this way may find its way into creating more productive activity. Nobody really tabulates statistics in this fashion, but the creative destruction process works in mysterious ways. On the margin, he could be correct. Link to comment Share on other sites More sharing options...
WolfOfMainStreet Posted April 17, 2015 Share Posted April 17, 2015 Does anyone have any data that supports his claim that lots of debt is used for job destructive LBOs/M&As? I was just talking about this with a friend of mine. If these financial moves cut jobs significantly on average then aggregate demand will go down and the LBO/M&A return would be affected as well. Kind of like a double edged sword beyond some threshold. Evidence is anecdotal. But a lot of these activities are centered around the idea of synergy, aka job cuts. The hope is capital created this way may find its way into creating more productive activity. Nobody really tabulates statistics in this fashion, but the creative destruction process works in mysterious ways. On the margin, he could be correct. So to sum up and to add a bit on: Here's what I think about when he says "borrowing from the future" in regards to these activities. As interest rates remain low for a prolonged period these synergy activities will trickle down to smaller firms, e.g. 1435 announced M&A deals below $100m for 2015. Some of these bankers/managers are not the best capital allocators. Usually these firms are too small to move the needle. However, in the aggregate and over a longer time period they'll get too irresponsible with the capital/job cuts enough to move the needle. To compound their troubles, a raise in interest rates will raise the payments on the floating rate portion of their debt. I'm using size here as a proxy for capital irresponsibility but there's probably a better metric. Sound about right?MA_Trends_From_SP_Capital_IQ_Global_Markets_Intelligence_-__3-31-2015.pdf Link to comment Share on other sites More sharing options...
VersaillesinNY Posted August 9, 2015 Share Posted August 9, 2015 Stanley Druckenmiller - 30 Min Presentation & Interview at Delivering Alpha - 20 Jul 2015 https://www.youtube.com/watch?v=kmErWcHmFsE Link to comment Share on other sites More sharing options...
VersaillesinNY Posted November 3, 2015 Share Posted November 3, 2015 DealBook Conference Nov 3, 2015 - The Other Investors’ Perspective Always interesting to watch: A conversation about the lessons from decades of investing with Stanley Druckenmiller, founder, Duquesne Capital Management. Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted November 4, 2015 Share Posted November 4, 2015 http://www.valuewalk.com/2015/11/stan-druckenmiller-dealbook/ "I'm working under the assumption that we entered a primary bear market in July" Link to comment Share on other sites More sharing options...
frommi Posted November 4, 2015 Share Posted November 4, 2015 http://www.valuewalk.com/2015/11/stan-druckenmiller-dealbook/ "I'm working under the assumption that we entered a primary bear market in July" He opened a 20% gold position last quarter at current levels, maybe not a bad idea for next year. Link to comment Share on other sites More sharing options...
valueorama Posted November 6, 2015 Share Posted November 6, 2015 DealBook Conference Nov 3, 2015 - The Other Investors’ Perspective Always interesting to watch: A conversation about the lessons from decades of investing with Stanley Druckenmiller, founder, Duquesne Capital Management. So Druckenmiller is bearish, just look at his tie. It is full of polar bears. Link to comment Share on other sites More sharing options...
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