Stan Druckenmiller At Sohn “The Endgame” Transcript And Slides

Stan Druckenmiller At Sohn “The Endgame” Transcript And Slides H/T @ChesapeakeCap

When I started Duquesne in February of 1981, the risk free rate of return, 5 year treasuries, was 15%. Real rates were close to 5%. We were setting up for one of the greatest bull markets in financial history as assets were priced incredibly cheaply to compete with risk free rates and Volcker’s brutal monetary squeeze forced much needed restructuring at the macro and micro level. It is not a coincidence...

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