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Stanley Druckenmiller says he shares similar bullish sentiments as David Tepper

Stanley Druckenmiller at a press conference

Earlier in the day, well-renowed Hedge fund manager Stanley Druckenmiller said that he shares similar bullish sentiments on the markets as fellow billionaire David Tepper. The exact words said by the billionaire hedge fund manager were, “I (Stanley Druckenmiller) too am still riding the horse.”

In an email sent to a reported of CNBC, the billionaire hedge fund manager said, “Ever since last October when Fed Chairman Jerome Powell guaranteed he will not rescind the insurance cuts, I publicly announced a very bullish posture intermediate term.

The email sent by Stanley Druckenmiller further reads, “Since then, the fed continues to whine about inflation being below target although both have worked.”

Bearing similarities with an email send by David Tepper to CNBC, the billionaire hedge fund manager then said, Trump’s election prospects have increased with two trade agreements and a big win in Iran which the Democrats have responded poorly to,” he added. “So I am still ‘riding the horse’ and bullish immediate term.”

The timing of the billionaire Stanley Druckenmiller’s comments is also quite interesting as it has come during a time when the USA is witnessing a prolonged bull run in equities which started in March 2009. On Thursday, the S&P 500 reached an all-time high north of 3,303 showing that US equities have skyrocketed more than 380% since the bull run started back in March 2009.

The billionaire hedge fund manager also publicly admitted back in December that he regrets not taking more risks in 2019 precisely regretting not able to fully capitalize on the stock market’s red-hot rally.

According to the billionaire hedge fund manager, he said that he should have made an even bolder bet back as he went on to load up on U.S. Treasurys following President Donald Trump tweet back in May that inflamed U.S.-China trade tensions. Druckenmiller says prior to that tweet, he had been “93% invested in the market.”

Druckenmiller first began gaining popularity in the hedge fund scene back in early 1990, when at the helm of the Soros Fund Management, a young and bold hedge manager, Druckenmiller was responsible for several trades that capitalized off the British pound sinking and yielded a $1 billion profit. 

About the author

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Safdarali Rizvi

Safdarali Rizvi the management graduate. Has been an avid book reader all his life so naturally loves playing with his words. His curiosity for discovering futuristic opportunities drives him to enlighten the entire Geekymint team with exclusive and intriguing news. He has a real passion for calisthenics and sports. His management abilities and hunger for learning brings tremendous value to our team.

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