An interesting insight from a young Stanley Druckenmiller

See the attached for a fascinating insight ("never invest in the present") from Stanley whilst working at the Pittsburgh National Bank. He began his financial career in 1977 as a management trainee at Pittsburgh National Bank, where he worked as an oil analyst

Stanley Druckenmiller, born on June 14, 1953, in Pittsburgh, Pennsylvania, grew up in a working-class family, moving between New Jersey and Virginia and attending multiple schools. He studied English at Bowdoin College before shifting to economics and entering finance.

In 1981, he founded Duquesne Capital Management, achieving legendary returns as a macro investor. From 1988 to 2000, he collaborated with George Soros at Quantum Fund, famously profiting from the 1992 Black Wednesday currency crisis by shorting the British pound.

He closed Duquesne in 2010 after three decades of hedge fund management, averaging around 30-40% annual returns, and now oversees his wealth via a family office while engaging in philanthropy.

His current net worth is ~$US 8 billion.

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