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He shut the fund in August 2010 because he felt unable to supply high yields to his customers. During the period of closure, Duquesne Capital had over $12 billion in assets. He’s reported to have made $260 million in 2008.
In 1985, he became a consultant to Dreyfus, dividing his time between Pittsburgh and New York, where he resided two days each week. He moved to Pittsburgh fulltime in 1986, when he was named head of the Dreyfus Fund. Included in his deal with Dreyfus, he also kept control of Duquesne. They computed the Bank of England didn’t have enough foreign currency reserves with which to purchase enough sterling to prop up the money and that increasing interest rates will be politically unsustainable. He left Soros in 2000 after taking big losses in technology stocks. Since that time, he’s condensed full time on Duquesne Capital. He’s profiled in the publication The New Market Wizards by Jack D. Schwager. Based on Bloomberg News, on August 18, 2010, Druckenmiller declared the closure of his hedge fund “telling investors he had been worn down from the strain of attempting to keep among the most effective trading records on the market while managing an ‘tremendous quantity of capital.'” Duquesne Capital Management posts an average yearly yield of 30 percent with no money-losing year. His funds were down for about 5 percent when he declared his retirement in August. Nevertheless, they’d since erased the losses and closed using a modest increase through successful wagers the market would rally in expectation the Federal Reserve would declare additionally “Quantitative Easing” to help out with reducing joblessness and prevent deflation.
Stanley Druckenmiller Net Worth $2.7 Billion Dollars
|Birth date:||June 14, 1953|
|Birth place:||Pittsburgh, Pennsylvania, United States|
|Education:||Bowdoin College, University of Michigan|
|Children:||Hannah Druckenmiller, Sarah Druckenmiller, Tess Druckenmiller|
|Parents:||Anne Druckenmiller, Stanley Thomas Druckenmiller|
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|Charlie Rose||2013||TV Series||Himself - Guest|
|60 Minutes||2006||TV Series documentary||Himself - Investor (segment "The Harlem Children's Zone")|
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