Hedge fund legend Stan Druckenmiller raved about Amazon, one of his newest investments (AMZN)

Legendary hedge fund manager Stanley Druckenmiller says he loves Amazon because, unlike IBM, it's not focused on short-term quarterly earnings.

"The last 19 quarters, Amazon has missed their quarterly earnings nine times. They don't give a damn," Druckenmiller said at the DealBook Conference Tuesday.

He continued: "IBM has missed three quarters since 2006. They really care about their quarterly earnings."

Druckenmiller's Duquesne Capital — a family office — bought Amazon shares...

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