Stanley Druckenmiller Quotes & Sayings

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. — Stanley Druckenmiller

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. — Stanley Druckenmiller

The way to build long-term returns is through preservation of capital and home runs. — Stanley Druckenmiller

I've always loved to play games, and face it: investing is one big game. You need to be decisive, open-minded, flexible and competitive. — Stanley Druckenmiller

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. — Stanley Druckenmiller

Whenever I see a stock market explode, six to 12 months later you are in a full blown recovery. — Stanley Druckenmiller

Once you make a lot of money, it's incredibly enjoyable to give it away. It's a way to satisfy the soul. — Stanley Druckenmiller

I particularly remember the time I gave (the research director) my paper on the banking industry. I felt very proud of my work. However, he read through it and said, 'This is useless. What makes the stock go up and down?' That comment acted as a spur. Thereafter, I focused my analysis on seeking to identify the factors that were strongly correlated to a stock's price movement as opposed to looking at all the fundamentals. Frankly, even today, many analysts still don't know what makes their particular stocks go up and down. — Stanley Druckenmiller

Part of my advantage is that my strength is economic forecasting, but that only works in free markets, when markets are smarter than people. That's how I started. I watched the stock market, how equities reacted to change in levels of economic activity, and I could understand how price signals worked and how to forecast them. — Stanley Druckenmiller

Everyone sort of lives with their rulers in the past and doesn't look at coming changes. — Stanley Druckenmiller

Soros is the best loss taker I've ever seen. He doesn't care whether he wins or loses on a trade. If a trade doesn't work, he's confident enough about his ability to win on other trades. There are a lot of shoes on the shelf; wear only the ones that fit. If you're extremely confident, taking a loss doesn't bother you. — Stanley Druckenmiller

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. — Stanley Druckenmiller

The way to build superior long-term returns is through preservation of capital and home runs ... When you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig. — Stanley Druckenmiller

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. — Stanley Druckenmiller

If you're running a business for the long term, the last thing you should be doing is borrowing money to buy back stock. — Stanley Druckenmiller

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. — Stanley Druckenmiller

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. — Stanley Druckenmiller

Good debt growth is when you borrow money, and it goes into the real economy. You do capital spending. You build businesses. — Stanley Druckenmiller