: Why a Cautious Stanley Druckenmiller Piled into Treasurys and Chinese Tech
Onto our call of the day from billionaire investor Stanley Druckenmiller, who is also pretty convinced the Fed is going to cut rates, maybe even to zero. The famed manager says he has been buying Treasury bonds, and seems to be preaching caution to equity investors amid trade-war threats. “When the Trump tweet went out, I went from 93% invested to net flat and bought a bunch of Treasurys,” Druckenmiller told Scott Bessent, founder and chief investment officer of Key Square Capital Management at the Economic Club of New York. Read the full story
Business Insider: Legendary Investor Stanley Druckenmiller Made a Blockbuster Trade by Dumping his Stocks and Going All In on Treasurys... Read the full story
Stanley Druckenmiller says he put the brakes on his stock-market exposure following President Donald Trump's May 5 tweet raising the stakes in the trade war with China. In a Monday interview, conducted by Scott Bessent of Key Square Capital Management at The Economic Club of New York, the billionaire investor said he reduced his equity exposure to zero and went all in on US Treasurys following Trump's threat to raise tariffs on Chinese goods.
CNBC: Stanley Druckenmiller Sold Everything and Bought Treasurys After Trump’s Tweet Threatening China Stanley Druckenmiller, a billionaire hedge fund manager with a long track record of beating the market, said Monday that he sold nearly all of his investments and piled into Treasurys after President Donald Trump’s May tweet that escalated the U.S.-China trade dispute... Druckenmiller, who was interviewed by Key Square Capital Management founder Scott Bessent at The Economic Club of New York, said he’s concerned that Trump’s aggressive trade policies may have damaged the U.S. economy and believes that the president will be beat by Democratic opponents in 2020. Read the full story