investors should never incur the risk of any loss at all. 1: never lose money; rule. I included this" to make the point that even though a very small number of great investors do beat the market, it is very unlikely that they are going to be willing to invest your money. And then we look at how the fundamentals are likely to unfold. . He has Jim Rogers analytical ability, George Soross trading ability, and the stomach of a riverboat gambler when it comes to placing his bets. Warren Buffett story here : Warren Buffett retells the story of the dead oil prospector who gets stopped work from home insurance jobs indiana at the pearly gates and is told by St Peter that Heavens allocation of miners is full.
Soros, that when you earn the right to be aggressive, you should be aggressive. Stanley Druckenmiller is saying that the people at the Fed put their underwear on one leg at a time like everyone else. And if you look at all the great investors that are as different as Warren Buffett, Carl Icahn, Ken Langone, they tend to be very, very concentrated bets. The ability to accept unpleasant truths (i.e., market action or events counter to ones position) and respond decisively and without hesitation is the mark of a great trader. Since most investors like betting with the central bank, these occasions provided our most outside returns and the subsequent price adjustments were quite extreme. Charlie Munger commented about this recently: I think its highly likely that the people who confidently think they know the consequences none of whom predicted this now they know whats going to happen next? Either way, the fact that Druckenmiller was able to identify and presumably profit from this year's rally in commodity prices is just one more example of a unique skill set that made this macro trader a billionaire. As far as Soros is concerned, when youre right on something, you cant own enough. Fear of missing out (fomo) caused the bubble to reach unprecedented levels. The Motley Fool has a disclosure policy.
Stanley Druckenmiller grew up in suburban Philadelphia and later. The greatest money making machine in history, a man with J im Roger s analytical ability, George Soros trading ability, and the stomach. Stanley Druckenmiller operated a hot dog stand in college. I cannot find anyth ing on Druckenmiller s trading strategy but here are a few points on his trading. There is one passage in particular in which Stanley Druckenmiller.
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