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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Market Insights from a Seasoned Professional

Market Insights from a Seasoned Professional

"I noticed your reference to a couple of well-connected analysts (Stack and Goepfert) who have been correctly positioned for the market's up trend over the past year or more. The fact that they are starting to get "twitchy" with a few  warning signs of overall market weakness setting in, suggests their opinion deserves some attention. However, that is not to suggest a bear market lies just around the corner. Before that happens, some signs of increased selling pressure, beneath the "cover" of manipulated "strength" in the big cap indices (DJIA, SPX, etc.) should show up. Short term, there persists some "overbought" profiles that could accompany further dips before year end.

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Investing With The Trend

Investing With The Trend

As traders/investors, our main objective is to be objective. Logic and intelligence are often the biggest obstacles to success, and emotions provide no benefit in this game. In trading, if you are struggling then you have to go back to the fundamentals that made you successful. Let’s start from the beginning. What makes an asset bullish or bearish?

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