Another guy who's probably more luck than smart. Yeah, he's a billionaire, don't ask me how. This is the guy who was screaming, for years, that we were going to get hyperinflation because of "money printing by the Fed." And he runs some organization reduce America's debt. Another dangerous, educated, fool.
Well, he's back now saying the bull market has "exhausted itself."
“I have argued that the myopic policymakers have no end game,” Druckenmiller said. "They stumble from one short-term fiscal or monetary stimulus to the next despite overwhelming evidence that they only produce a sugar high and grow unproductive debt that impedes long-term growth. Moreover, the continued decline of global growth despite unprecedented stimulus the past decade suggest we have borrowed so much from our future and for so long that the chickens are now coming home to roost."
Stumble. Sugar high. Chickens coming home to roost.
Why? Because it's 3% from an all-time record high?
He blames it on a "radical monetary experiment."
And what is his brilliant investment idea? Buy gold of course.
This is a 100% green light to buy stocks. We can all laugh and look back on this moron's "call" in six months.
Buy stocks. Fade the idiots.