Stanley Druckenmiller at The Lost Tree Club

Stanley Druckenmiller at The Lost Tree Club

I thought I would start by spending a moment just reflecting on why I believe my track record was what it was, and maybe you can draw something from that. But the first thing I'd say very clearly, I'm no genius. I was not in the top 10% of my high school class. My SAT's were so mediocre I went to Bowdoin because it was the only good school that didn't require SAT's, and it turned out to be a very fortunate event for me.

But I'd list a number of reasons why I think I had the record I did because maybe you can draw on it in some of your own investing or also maybe in picking a money manager. Number one, I had an incredible passion, and still do, for the business. The thought that every event in the world affects some security price somewhere I just found incredibly intellectually challenging to find out what the next puzzle was and what was going to move what. And the fact that I could bet on that interaction, those who know me, I do like to bet. One of the great things of this business, I get to gamble for a living and channel it through the markets instead of illegal activity. That was just short of nirvana for me that I could constantly be making these bets, watch the market moving, and get my grades in the newspaper every day.

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