Stanley Druckenmiller at Ira Sohn Conference [LIVE]

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Stanley Druckenmiller at Ira Sohn Conference [LIVE]

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.


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