Stanley Druckenmiller Ira Sohn coverage brought to you by ValueWalk.
Stanley Druckenmiller founded Duquesne Capital Management, which he ran until he closed the firm at the end of 2010. Stanley Druckenmiller was a Managing Director at Soros Fund Management, where he served as Lead Portfolio Manager of the Quantum Fund and Chief Investment Officer of Soros, and had overall responsibility for funds with a peak asset value of $22 billion. Stanley Druckenmiller is Chairman of the Board of the Harlem Children’s Zone, a Board member of the Children’s Scholarship Fund, Memorial Sloan Kettering, and the Environmental Defense Fund, a member of the investment committee of Bowdoin College and co-founder and Board member of the Kasparov Chess Foundation.
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Stanley Druckenmiller Ira Sohn Conference Live
2:25 PM EST: Stanley Druckenmiller to present “The Commodities Conundrum”. Does not like Bernanke post QEII. Druckenmiller is not a fan of market correction, Says he likes market short term, hates them long term.
2:28: Druckenmiller thinks QE will end soon, does not have a time stamp. Says BoJ’s Kuroda’s easing is Bernanke’s times 3.
2:30: Unitl Fed changes policy he sees no case for a bear market. Says BoJ’s policy is more appropriate, compared to Fed’s, as it is achieving deflation target.
2:32: Sees a 18 months run in NIKKEI 225 (INDEXNIKKEI:NI225) even if BoJ’s policy fails.
2:33: Druckenmiller is discussing why commodity prices are going down. Thinks the super cycle in commodities is at an end now.
2:35: China misallocated resources and misread signals. Commodity producers ramped up production and misread situation
2:38 The current supply demand situation in commodities is deadly.
2:40 Says super cycle is over, last two years have shown that. The past two years are not a correction, they are a trend.
2:41: Druckenmiller says avoid commodities and short the Australian dollar. Also cautions against Brazil and South Africa. currencies because of commodity slowdown. (Sidenote: George Soros is rumored to be short AUD)
2:45: Says he finds no other US company as well positioned as Google Inc (NASDAQ:GOOG), no China exposure, amasses 80 percent of search and very few hedge fund major holdings.
Presentation ends after drawing many laughs from audience.