Stanley Druckenmiller Quotes

All in all, I don't think robots and greater automation can bring about a utopian world as I imagined it would as a kid 50 years ago.
Bitcoin is like anything else: it's worth what people are willing to pay for it.
Carried interest... you're making money on somebody else's capital. It's not on your own. If that's not income, I don't know what is.
Earnings don't move the overall market; it's the Federal Reserve Board... focus on the central banks, and focus on the movement of liquidity... most people in the market are looking for earnings and conventional measures. It's liquidity that moves markets.
Every serious deflation I've looked at is preceded by an asset bubble, and then it bursts.
For 30 years I've been responsible for managing client money, and it's been a joy, but at some point I need to move on. Thirty years is enough.
Good debt growth is when you borrow money, and it goes into the real economy. You do capital spending. You build businesses.
I believe that good investors are successful not because of their IQ, but because they have an investing discipline. But, what is more disciplined than a machine? A well-researched machine can make many average investors redundant, leaving behind only the really good human investors with exceptional intuition and skill.
I don't like the repeal of the estate tax.
I don't put Tesla in the Amazon category. They have not proved to me that, as a financial model and an economic model, it is going to work.
I don't really like hedging. To me, if something needs to be hedged, you shouldn't have a position in it.
I don't think Donald Trump is Ronald Reagan.
I have given myself a Tesla for my 60th birthday.
I like putting all my eggs in one basket and then watching the basket very carefully.
I love Amazon.
I love being around kids. I couldn't figure out why all these 70-year-olds wanted to hang out with me when I was 27. Now I understand, and I'm trying to steal their energy from them like they stole from me at the time.
I think ageing demographics is a bigger issue in China than people think. And the problems it creates should be become evident as early as 2016.
I think Bezos is incredible.
I think old people like Hillary Clinton and I shouldn't try and be cool with social networks, you know; maybe she should leave that stuff up to Chelsea.
If machines do everything well, including allocating capital and resources efficiently, can that be deflationary, can that eliminate poverty? I don't know. It's hard to be very optimistic if you look at how humans have behaved historically.
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AuthorName
Stanley Druckenmiller
Profession
Businessman
BirthDate
14 June, 1953
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