Stanley Druckenmiller shuts firm: another victim of poor market conditions

[DHOHHI]

Quote from [Proximo]:

poor market conditions ? -- more like poor trading !

I'm sure your trading has outperformed him.

Some of you guys are clueless. There's more to life than making $$$.

Druckenmiller has been very involved, financially and otherwise, in Harlem Children's Zone, where the academic achievements of the kids has been amazing.

 

[jem]

that is a hell of a record.

Working hard takes an emotional and physical toll... I have been working my butt off for about 3 years building a business. It is far more taxing than trading. But, I do not make more money and do not have significant drawdown.

I lost my ability to tolerate draw downs after I had a wife and kids.

 

[Cdntrader]

Quote from Clubber Lang:

Don't know shit about him except for what I wrote.

Just laugh at all you loser wannabe's sitting at home trying to make rent money and ripping billionaire traders.

No shit! This is a KING trader.


What a bunch of fools tryin to cut him down.


Reminds me of the same clowns who try to cut down Livermore.

 

[d08]

Maybe the markets didn't do it for him anymore. Calling him a loser is just small and pathetic, coming from ETers. He cited personal reasons so maybe the markets weren't priority number 1 anymore - what was left to achieve anyway?

 

[Arnie]

Quote from Millionaire:

“While the joy of winning for clients is immense, for me the disappointment of each interim drawdown over the years has taken a cumulative toll that I cannot continue to sustain,” he wrote to his 100 clients today.


Just goes to confirm that trading is emotionally negative sum, regardless of how much money you make.

The winning periods, even though you make more money during them, dont make up emotionally for the losing periods.

Trading saps your emotional mojo.

Intersting post and I don't necessarilly disagree. But we are talking about one of the BEST traders in the last 20 years. Maybe it's wisdom.

 

[007Arb]

We aren't cutting Druckenmiller since we are all but a speck of sand compared to him, just the notion of being a victim of poor market conditions. We have had one of the greatest bond market rallies in history in all sorts of debt instruments going back as far as 2008 in some of them so I can't understand why the whales were unable to capitalize on this. There's more to trading and investing than just stocks.

 

[Wayne Gibbous]

He got slammed by BP/RIG...

 

[HeSaidSheSaid]

probably, he's hit the saturation level, terminal velocity some sort. his ability can only manage an account size of $10B, anything larger than that, he'll have to work harder or improve his current method.

to some extent, market efficiency does exist!

no, he'll be around, probably he'll trade smaller account; can't get trading out of a trader! he's traded for so long, he's conditioned or addicted!

 

[stock777]

maybe he's just sick of it and needed some excuse to bow out.

its like most of you here that maintain that other job of driving a cab, or selling hot dogs at the ball game, while pretending to make a living as a trader.

hey, buddy, I'll have mine with a nice dollop of mustard and relish!

 

[toc]

"The winning periods, even though you make more money during them, dont make up emotionally for the losing periods."


Let your profits run and cut your losses short...............no emotional leakage as no sleeping over the losing positions.........even if stop is not hit yet, mind still knows what the maximum loss would be.


I think his problem were the 'bold bets' that sure hammer the mind 24x7 and these bold bets often go deep into drawdowns, especially if they are based on the fundamental logic.



Would also like to add that $3.5B will bring little pleasure if health is not good, relationships are not fulfilling and there is little connection with the Almighty One.