Stanley Druckenmiller surfs on the “unleashed mania” of stocks
Katie Kramer | CNBC
Stanley Druckenmiller said on Tuesday he believed a bubble had developed across a range of assets, although he remained long in the equity market.
“I have no doubt, no doubt that we are in a frenzy in all assets. I also have no doubt that I have no idea when this is going to end,” said the billionaire investor on CNBC. “Cry box”.
The CEO of the Duquesne Family Office told CNBC on September 9 that he believes the market is “in absolute madness.” The S&P 500 is up about 23% from today’s close to Monday’s close at 4,188.43.
“We’re still long in the stock market,” Druckenmiller said Tuesday. “We’re not as long, almost as long, as we were four or five months ago. We’re still playing the game. We’ve shifted a lot of our relative bets to commodities, interest rates, the dollar.”