One of the rare interviewers who asks interesting questions, understands what he’s asking then shuts up so the guest can speak - well done

@LandDestroyer

4 жыл бұрын

@Ranjit Chakravarty Please elaborate

@royreyes8422

4 жыл бұрын

MrPractical wacc cost of enrty

@lostincanada3880

4 жыл бұрын

Watch David Rubenstein interview on Ray Dalio, he did the opposite of this interviewer.

@jazdrew

4 жыл бұрын

You should check out Real Vision. They do amazing interviews. Here's one with Druckenmiller and Kiril kzread.info/dash/bejne/eWGBztSpn7DPl5M.html

@albertanalyst123

4 жыл бұрын

Mutual respect as we should always appreciate, and I guess the host indeed appreciated the views from Mr. Druckenmiller.......

This interviewer did a fantastic job. Well prepared, asked great pointed questions. respectful. Good job bloomberg

@crossing3790

4 жыл бұрын

you sound like a paid troll. No one really talks like you.

@ddubsr5886

4 жыл бұрын

crossing I wish. Who do I have to contact to get the check? I’ve watched interviews where they talk over the other person, they don’t ask pointed questions that the audience wants to know the answers to and it’s a complete waste of time and I call those people out. I found the opposite to be true here and I commend that and hope the executives see that and produce more content that way

@ashthegreat1

4 жыл бұрын

Yeah - I thought the interviewer was actually better than the interviewee - in much the same way a good jockey can still win on a slower horse 😎

@muddyriverdogz

4 жыл бұрын

My question would have been...How can you have capitalism and a free market if interest rates are being suppressed ? Is not this economic policy giving money to the top through thestock market by borrowing from the future ? I have some question's for some of his answeres. He seemed to be double talking. I could create a lot of jobs to if i was getting free money borrowed from future generation's. But ultimitly and obviously there is a problem with that model in the future.

@ddubsr5886

4 жыл бұрын

muddyriverdogz your correct in your question, although I’m not sure if your being rhetorical. Manipulating interest rates absolutely distorts capitalism and allows money to go into places it normally otherwise would never go causing mal investments on a grander scale

“That’s very good” Stanley’s dry humor is hilarious

@josefk5659

4 жыл бұрын

He was so funny

That’s why I respect Druck more than any investor. Still has the guts to bash the media.

@Juan_Hernandez_Jr.

4 жыл бұрын

Hahaha.... I couldn't believe he said that. That was awesome! Hahaha... The look on the interviewers face was priceless, Hahaha....

@herrwahnsinn4229

4 жыл бұрын

@James Zell White collar criminals

@rmicone1

4 жыл бұрын

oh poor billionaires boo fucking hoo

Interviewer is really good here, way to let a legend talk!

@somchai9033

4 жыл бұрын

Legend? Laughable.

@Monopolist91

4 жыл бұрын

@@somchai9033 I assume you know nothing. Only the best .01% of money managers can do 30% annualized for decades.

Spot on about Powell. Rare to hear an honest assessment of Powell’s clumsy maneuvering

@actualideas8078

4 жыл бұрын

Not quite spot on. Spot on would be: “ every fed chairman and member should be in jail for counterfeiting money” that would be more spot on

@Dave.S.TT600

4 жыл бұрын

@@NoBody11010 YES Indeed

What class. Im such a fan of Drukenmiller sir. What an incredible person. My role model.

30% compound annual returns for 38 years - I listen to each interview he provides

@taylorcollins615

4 жыл бұрын

same

@RealRosieRuiz

4 жыл бұрын

He used 4x1 leverage. Do the math and his picks made the market average, minus the dividends.

@yanjimbo

4 жыл бұрын

30 net, 40 gross

@sammiller552

4 жыл бұрын

yup and i wait for months for another one. seriously i wish he interviewed more

@grass.dihenia2590

4 жыл бұрын

Well technically the 30% annually without a down year was for his "competing" 30 years as a fund manager before the family office

This interview was before the global Coronavirus pandemic. So, by taking everything Druckenmiller said plus ongoing pandemic, you still end up with: 1. Rates will go even lower (negative rates possible now since it's already at 0) 2. Short developing currencies & CAD, AUD, EUR, Yen 3. Long (or sideways) Stocks given Covid19 4. Short Treasury, Cash, Bonds, anything Fixed income

Good interview, none of the incessant interruptions like some other 'interviewers' like to do.

@actualideas8078

4 жыл бұрын

Donuts I remember when I learned the word incessant and wanted to use it all the time to sound smart too

@robertbrawley5048

4 жыл бұрын

@@actualideas8078 im going to use it all the time from now on. Incessant.. That sounds snarts. I mean smarts

@actualideas8078

4 жыл бұрын

Robert Brawley try the word pernicious. I learned it from this video.

@notbot8830

4 жыл бұрын

Quit being assholes.

great interview and interviewer - "there is nothing wrong with deflation if it is driven from the supply side"

My favourite interview of the past 8 months. Stan Druckenmiller is such a great guy!

druckenmiller is a very sobermiller.. he needs to teach us youngmillers how to run the game in various environments.

First time I've viewed an entire interview of Stanley Druckenmiller. I have massive respect for him. Thanks for your insights.

I mean he's not wrong about markets ... but markets are distorted and owned by the Fed and other central banks now. That's not a functioning free market capitalistic society, it's socialism for those with financial assets (the rich) and pittance for the rest. Yes, pension funds too but this is what happens when you borrow from many decades ahead for today's gains. The corruption and greed feeding these markets is more palpable than ever and while you can be grateful for your gains you should at least acknowledge that they're being made on the backs of poor shmucks struggling to make ends meet.

@kirilmihaylov1934

4 жыл бұрын

If free market come it will delete the whole system. Prices will fall and people with assets will get crushed big time. So it ain't that simple

@jazzypoo7960

4 жыл бұрын

@@kirilmihaylov1934 Free markets only exist in the minds of the believers.

@kirilmihaylov1934

4 жыл бұрын

@@jazzypoo7960 true that

@GapModel1

4 жыл бұрын

If you truly believe that these gains are being made on the backs of the poor than you are truly stupid. Poor people are poor because they lack the IQ to handle money efficiently. You can give 10 poor people 1 million dollars each and in 5 years they will end up poor again. If you take all the money away from 10 rich people and give them $1000 each, in five years those people will likely become rich again. Truth is rich/poor is more mental than physical. Money runs out eventually but rich people are experts in creating more wealth where as poor people are experts in wasting wealth.

@RealRosieRuiz

4 жыл бұрын

So the guy who can't spell "then" or "whereas" is calling someone "truly stupid" and lecturing about IQ. This explains our world right now.

Perfect level of tension in this interview to draw out some good insight from a smart guy.

@Malisti04

4 жыл бұрын

5 months on , how did you do?

@davemilke3110

4 жыл бұрын

@@Malisti04 Still too early to call.

I loved this interview and he has his heart in the right place. However, obviously this guy is insulated from reality of what used to be the honest and hardworking middle class guy who now works a 60 hr workweek and still needs to be on food stamps to house and feed his family. Shifting almost all of the tax burden from corporations to middle America over the past 20 years has been an unmitigated disaster. We have created a "two state" system now of the wealthly and the poor America - literally destroyed the middle class. These are facts that cannot be denied. Walmart gets tax breaks for paying their employees slave wages and then we turn around and "pay" their workers with food stamps to make up for it- this is insanity and people will not put up with it. Trump was the first knee jerk reaction to people feeling that no one is listening in DC- unfortunately he is a con man. The next election will see more drastic changes until we fix the system rigged for the corporations and the wealthy- it's that simple.

@antoniamizrahi498

4 жыл бұрын

Kevin Blake all of this! The middle class has been long dead, people need to wake up.

My takeaway from this is there's a crash coming the likes of which we've never seen. But until then, party like you're in the penthouse of the Titanic.

@ep9203

4 жыл бұрын

Best comment ever!!

@ipredictariot6371

4 жыл бұрын

Wait until after the election though unless you think the socialist wing is getting in.. in which case get out as soon as you can!

@jen_nice2059

4 жыл бұрын

Stuart Clark it’s all the same.

@zarni000

4 жыл бұрын

well that's always the case really. anybody can say that.

@alecweitl2477

4 жыл бұрын

welp. crash has arrived

Ive listened to this three times and it keeps getting better.

“How are you adapting?” I wonder how much gold he has in his “personal” portfolio.

"Let's talk about your favorite currency" :D - That made him really happy hehe

Druckenmiller, a wealth of insight shared. So many take aways, really appreciated the interview.

Towards the end when the topic becomes more political Druckenmiller: here’s the facts Interviewer: but what about the feelings of people who disregard facts?

@ianzeta8839

4 жыл бұрын

Aaron Venema facts don't matter with irrational voters

@RubbaDubbaDooskie

4 жыл бұрын

I like SD as a person, but believe that he cherry picks his facts from time to time. Being a Bloomberg stooge of course the interviewer reinforces heir/heiress dominance philosophy. "For nothing can seem foul to those that win."

@aaronvenema

4 жыл бұрын

89879237 4583475623 - yeah, he says the middle class has never been better. While at the same time he admits real inflation is higher than the CPI. When you factor in real inflation the middle class has been obliterated over the past 30 years. Which I mainly blame on communism (the central bank)

@ianzeta8839

4 жыл бұрын

89879237 4583475623 I agree, Ray Dalio published a great article in LinkedIn explaining the causes and evidences of the current wealth gap. If you haven't read it, check it out.

@sch5827

4 жыл бұрын

@@ianzeta8839 I think they are just multi-facets. The 'real' inflation on the middle class has gone worse over a few decades but at least some facts might indicate the middle class is doing better than the previous worst scenario. Stan seems to have less interest and intent than Ray to do PR stuff. Ray has skin in his PR and he showed up in numerous talks with the same points repetitively. Ray's concern could be legitimate, but a greater issue is that we don't have a closer look at the facts. Thomas Sowell's work clearly suggests some objections to Ray's conclusions. And it is very likely that it can be another story of narratives versus truth. Gap is just the beginning of the story, not the end. But it is a powerful trigger to signal another undue public rage.

This guy is the god of trading (not investment). He is long things that go up, and short things that go down. Period. Completely unbiased. He may have a long term personal opinion, but it does not affect his positions.

captivating interview. Great questions across the board.

Great interview. Watched it all the way.

Brilliant man. Excellent interview. Thanks

When’s this guy going to run for President? Shows that there are good fair people out there that would never run because of how we treat the good guys in politics. We deserve what we have and the competition we see if we do not start to show respect and tolerate other opinions.

SPOT ON STAN>>>>>Help the early years of children and you change the entire society.

@scottlogiudice

4 жыл бұрын

Help? How about stopping the war on men and families.

@alkrac1

4 жыл бұрын

@@scottlogiudice You dont get it.

We are near a financial reset the only question is a year or ten.

Erik greatly improved his interviewing from last time. Good job man.

Great interview. Interesting to look at it 2/23/21 after watching Mr.Druckenmiller recent interview on GS.

Yes, it seems that we are borrowing from the future to pay for our current prosperity. How long can it continue? Prolonged, low interest rates are creating imbalances that will eventually lead to economic disruption.

@ippothedestroyer

4 жыл бұрын

Sacrificing the future generations for today's old people.Eating the younger generations lunch.

@thor1186

4 жыл бұрын

so use weimar republic as a template on what's to come

He stated last year that ¨the fed should tighten until it hurts¨ last year.........no courage from the fed. Monetary policy is the worst the last 20 years. Greenspan started it, Bernanke continued, Yellen did nothing and Powell has dinner with trump once a month. Easy money always ends up in tears.

Phenomenal interview. I don't agree with him on everything, but even he is quite open to the fact that he may need to change his opinion given new data/perspectives in the future. One of many things I definitely agree with him on is that there is a better shot of truly uplifting the poor/struggling with more effective capitalist approaches than by abandoning capitalism completely. What's needed is for more people to have access to the benefits of capitalism, not fewer!

Excellent Interview. Well done Erik Schatzker!

Good interview.....knowledge and insights are free flowing

@denisa.minihane5289

4 жыл бұрын

@AminAaaahh...Now I know where u get all that financial strategy from....😂😂

Guys, seriously, a mini stool for a 50 minute interview of an old billionaire. Why not add torture spikes?

@begonebegone7825

4 жыл бұрын

I thought the exact thing. Terrible comfort prep

Congrats to the interviewer, quality work!

Its always easier to lose other people money … TRUTH!

Excellent presentation. Very likeable guy with pretty succint information. Thank you.

And yet another person who confuses state sponsored crony capitalism with “capitalism”. Privatizing the profits and socializing the losses is not capitalism.

Great interview. Can’t agree more on most of his points

love this guy, very composed!

I love how Stanley can act out his inner Hischer Booptrunk on Bloomberg's cast of characters

Really like this guy, he speaks a lot of sense.

And look where we are just 3 years later. Gear up folks

good interview...erik has really improved in this area...as for drunkenmiller, he is always worth listening too...

Such a good education on impeachment and the fundamentals of our US democracy. Democracy is not just a system, there has to be a set of common judgements among the majority of its people. No system is perfect. God bless America!

What a breath of fresh air. Saying what we all think.

If this guy lives as long as Buffett, he has the potential to surpass his net worth. He is so smart and so dry, and he plays it down....I learn something new every time listening to him, absolute class act

"We're close enough to election I dont think he'll do anything too crazy" :: declares war on iran the next month ::

@keithlacken9749

4 жыл бұрын

😂😂😂

@darrellhiatt6500

4 жыл бұрын

Dumbass reply IMHO. The terrorist, named by Obama, UN, The World has been blowing up people and Culture since the 1980's. What u saw was elimination of scum, prearranged and ok'ed by 🇺🇸 retaliation by Iran. 80%+of population want regime change. He didn't do that. I am Independent, but time to give Orange Man bad is credit. The guy is getting it done for the World. Stopping China and Sharia Law in USA alone should make him best President ever. It's not a personality contest, it's production. Hired to make 🇺🇸 1st and doing it.

@ransbarger

4 жыл бұрын

@@darrellhiatt6500 Hows it smell up there in that fat man's ass dumbass?

Ya all know that low interest rates, inverted yield curve and bubbles bubbles everywhere indicates an economic house of cards. He’s ripping us off and talking about it like he’s a hero.

Outstanding interview, I'm suprised that it seems Druck has ditched gold for copper

middle class and poor are NOT doing well.

Druck is always smart but i am 11 years older than he is and i AM afraid of this economy and can not go long on equities.

@Re3iRtH

4 жыл бұрын

So you're short your whole US position? I'm 80/10/10 real estate/equities/cash so not a big stock market follower :P

@JeffreyGillespie

4 жыл бұрын

No offense intended, but if you're 77 you shouldn't go long on anything.

@ArcangelPaHa

4 жыл бұрын

@@Re3iRtH He most likely is invested on short reserves or money market.

@jerryfriedman1183

4 жыл бұрын

you are right about not going long on anything at age 77. the problem is that you have to keep your money somewhere. i am long cash and gold.

@tintinet

4 жыл бұрын

Jerry Friedman always keep your money in assets trending up. This means stocks now, regardless of your age.

Can anyone explain the alarming rise in homelessness given the decrease in the percentage of people living in poverty? Is is just a reflection of the increasing population?

@przybyla420

4 жыл бұрын

Yes, those poverty stats are B.S....

@jameslee5237

4 жыл бұрын

Many reasons, but imo it’s largely a cultural failure. People with intact supportive families don’t fall into abject poverty, don’t get into drugs, and failing all that, have people to fall back on to get them back on their feet.

@SpringismySeason

4 жыл бұрын

Great point!

I put this on 1.25x and he still spoke slow haha

I truly enjoyed this.

@mikerossi4638

4 жыл бұрын

f.scott fitzbeagle that was funny as heck . And I laughed my but off when I seen this comment 🤙🤙🙋‍♂️

great show and thank you for doing this, great work ... jan 9, 2020 thu; just bought GOLD $1550 BTC $7900 and UBER $32

put speed to 1,25 🙏

@dividendincome9685

4 жыл бұрын

Or work on strengthening your attention span

@ManPursueExcellence

4 жыл бұрын

Dividend Income I know, right? Lol

Y'all- invest your money in small local farmers. Better food equals better people. Talk about a good long term investment... Thanks Bloomberg great great interview.

Brilliant as always, Stan openly discusses his positions and why more capitalism might be the solution to our problem. Stan’s simplicity and clarity in his views about macroeconomics truly amaze me considering how complicated some these issues can be. One of the GOATs for sure.

this year Bloomberg is not interviewing Stanley?

Great interviewer

With the multitude of homeless (downtown Los Angeles has 17,000 people in that encampment) I am highly skeptical we have a poverty rate of 13%. There’s some misinformation, manipulation of the data or out and out lying going on somewhere.

Highly skeptical of the references to middle class and lower class "data" which is frequently manipulated, better data would consists of credit defaults, +90 day lates on payments. Middle class is not doing well and obviously homelessness wouldn't be increasing at an alarming rate if the lower class was doing well. Did find some value in this but Druckenmiller is still very far removed from actuality.

I would love to see Ray (Dalio) and Stan debate income inequality in the US

Bring Stan Druckenmiller back on to ask about coronavirus. Also, Stan Druckenmiller needs a twitter. cuz we all wanna know his thoughts

This is one of the many subjects on finance, stocks and markets, they talk for hours without letting you understand anything. Both the speaker and interviewer try to show that they understood each other. Doubt it? replay and listen again and again.

I respect his views

It's all about confidence . Just don't drop the ball and you'll be OK . Take Care All

When it comes to global markets, maybe the reason the US is still rising while everyone else is sinking, is solely because of tax breaks for corps that then in turn buy back there own shares. So in reality the market has long since stopped rising, and it is simply government handouts to Corps that manipulate what you are seeing, when you think you are seeing a rising stock market. What happens when the Corps stop buying their own shares?

Stan what about Austrian Economics? What about separating money from state/central/socialism banking? How can we get an accurate measure of price when there's an overarching money printer pulling all the levers???

Please inform the host of the difference between imply and infer.

Early in the interview, he says short the N? What does that mean?

He doesn't talk about infatuation the devaluation of money

feel sorry for the information left out

Food prices rises are coming So money stops being the drug of choice

@normandolinic2044

4 жыл бұрын

Andy Gratton there here.

Always a joy to hear one of the great greats speak.

This dude is awesome. Honestly agree on almost everything. Good for him and his success.

I like how dull this guy is.

@JeffreyGillespie

4 жыл бұрын

Speak softly and carry a large portfolio.

@thenon-gaapbillionaire3306

4 жыл бұрын

A ninja doesn't wear a big red hat and a ninja shirt. A ninja sits in silence in the dark and eats his rice (because he's chinese)

@hollywoodlibertarian4227

4 жыл бұрын

@@JeffreyGillespie I can't believe ive never heard that. im using it lol

@jackb8469

4 жыл бұрын

Looks like a toad.

@joseg1787

4 жыл бұрын

He's dull but classy.

I would be intrigued to have Stan explain why he thinks, and says, that Donald Trump isn't very smart. I would like to hear him explain why.

Listening to stan has always been informative. I would love a conversation between dalio and stan, about economy and future/ have they ever said about each other or each other's views? If anyone knows anything related to this pls let me know..

@boomting55

4 жыл бұрын

Stan has criticised dalio before on his view about there being a ''beautiful deleveraging" after the financial crisis although he didn't mention Dalios name, that's all I know of. like you I'm a big fan of both!

@shivashrivastava4437

4 жыл бұрын

@@boomting55 Thanks for that info.

One of the only guys that really dislikes Trump that has a rational argument.

Druckenmiller ! Good name for this dude!

You cannot “get the Fed” until you accept some pretty dark premises”. What have been, and still are, their real goals?

38:32 Ooooo. He got your ass on that one, Mr. Interviewer.

Before you talk dirt about these trading greats. You should do some research and see how much of their fortunes they have given away for wonderful causes. How many billions of dollars have any of you donated? And could you go to a job without guaranteed pay or the possibility you could lose money?

Stan says buy British! 🇬🇧

frick yeah more Druckenmiller

The end of a trend. Boomers, confused about their own greatness. The jokes of history.

Ohh man, I am a fan :-)

The problem is that we do not have true capitalism (as he alludes to) - we have central banks (not subject to audits) which control the economies (like planned economies in communist states) and they are setting policies that are not no longer true to capitalism. (The real powers that control this pyramidal system are a very dark force. They have esoteric knowledge and so the real game is ultimately a spiritual one - to prevent the masses from awakening to their true nature as a spiritiual being of light incarnated for the purposes of self-realisation. The energies we create in the Universe are balanced out and so we hold the key to our happinness and so "they" have programmed our sub-conscious minds to keep us ignorant of this truth.)

6:20 I don’t think Jerome Powell will have the courage to raise rates next year 10:15 Britain and Brexit. Druckenmiller feels Brexit is a positive event 12:40 Back to discussing Fed and low interest rates 17:50 More inflation discussion 18:30 “Does inflation matter any more?” 24:40 Fewer macro opportunities 28:29 Price action vs news 29:40 Global Bear Market was incorrect 35:15 Poverty in the United States…and the world 38:35 The news media misstates facts on a daily basis 43:35 Philanthropy

All I can say is that this guy is wayyy more competent than me

Stan is a hero of mine. Someone I always admired much more than any of the other financial guru's. He is intelligent enough to know that this market is not made up of proper fundamentals and hence how do you weight your positions? The bigger problem is "how" these bubbles are made. They are created on debt and only serve to make the rich richer. Hence the 1.2 Trillion of new wealth created for the 0.01% in 2019 while the rest struggle with debt burden living paycheck to paycheck to make ends meet. There is a huge debt problem. He doesn't think as bad as 2008? Perhaps but that is because the hedge funds and banks bought all the shadow inventory of homes that they now rent out. Credit card, Student and Car Loans are much worse.

Someone should have asked Stan about Andrew Yang. His proposed UBI would be funded by a value added tax, which has a good chance of actually working. He is trying to address inequality, but in a more constructive manner than Senators Warren and Sanders.

What about the housing bubble setting it off? How many ARM mortgages are coming due each month?

This man just seems to feel that the dices are tricked. He’s certainly right!