Stanley Druckenmiller shuts firm: another victim of poor market conditions

[achilles28]

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.

+10

 

[Rodney King]

Quote from 007Arb:

I talked about the junk bond rally on ET as early as January 2009 and on other trading boards

Regrettable Stan wasn't reading ET back then! His bad, I guess.

BTW, have any of the self-appointed Druckenmiller <i>experts</i> on this thread actually <i>met the man</i>?

 

[AK100]

Quote from JamesVU2000:


Favoring big banks and big government and racking up trillions id debt was the worst idea of all time. The next time this thing blows up its going to take out the political system. What comes next no one knows

A bloodless military coup that's what.

Get the Army to take over and clean out Washington, no fear of making the right yet unpopular moves because they aren't about votes.

Then have normal elections in 4-5 years.

Can't see any problem with the above if handled right.

 

[olias]

Quote from ASusilovic:

More important than any any other information in the Bloomi article. Stanley´s wealth is approximately $2.8 billion. He will establish his own family office for "fun".

He belongs into the traders hall of fame ! Hats off !

I agree. Let's salute him for his tremendous success and getting out in time to enjoy it. It bugs me to hear him called a 'victim' of anything.

 

[Lawrence Chan]

Quote from [Proximo]:

poor market conditions ? -- more like poor trading !

Hedgefunds have to trade or speculate within certain parameters as desrcibed to their clients. So, if DM sees a change in behaviour, he cannot just do something different. He has to wait.

DM could be under unnecessary pressure from "investors" as they thought it is a given, sure thing that the fund will deliver. Nowadays hedge fund investors use all kinds of statistics to see if you are "not on top" of your game, etc.

At this point in his life, I can imagine if the so called "investors" pressure him, he can call it quit in their faces. =)

 

[Debbiekyota]

Quote from Lawrence Chan:

Hedgefunds have to trade or speculate within certain parameters as desrcibed to their clients. So, if DM sees a change in behaviour, he cannot just do something different. He has to wait.

DM could be under unnecessary pressure from "investors" as they thought it is a given, sure thing that the fund will deliver. Nowadays hedge fund investors use all kinds of statistics to see if you are "not on top" of your game, etc.

At this point in his life, I can imagine if the so called "investors" pressure him, he can call it quit in their faces. =)

Uh? You are thinking about mutual funds. Hedge funds agreements, all of them, have clauses that allow the manager to do basically anything he wants. Seriously fellow don't ccomment on things you don't know about.

 

[Lawrence Chan]

Quote from Debbiekyota:

Uh? You are thinking about mutual funds. Hedge funds agreements, all of them, have clauses that allow the manager to do basically anything he wants. Seriously fellow don't ccomment on things you don't know about.

Investigate a bit more before you post comment like that.

 

[Debbiekyota]

Quote from Lawrence Chan:

Investigate a bit more before you post comment like that.

I am invested in over a dozen hedge funds and have researched 100" Obviously, you have never seen or read hedge fund paperwork. It's only for sophisticated investors, would you like a cut and paste of the standard clause?

 

[Lawrence Chan]

Quote from Debbiekyota:



I am invested in over a dozen hedge funds and have researched 100" Obviously, you have never seen or read hedge fund paperwork. It's only for sophisticated investors, would you like a cut and paste of the standard clause?

Sigh ...

A law enforcement officer is given firearm, but he/she would not use it unless it is necessary because of the consequence.

Hedge fund managers are given the power to trade in any way they see fit, but, they market their funds with not just track records, but the methodologies they are using. e.g. long term trend following funds on commodities, short term index trading, etc.

When fund managers deviate a trade or multiple trades from their overall strategies, they will be questioned and the investors can pull out should the change spook them.

Running a hedge fund is a business, and should major investors pull out, there is no hedge fund left.

 

[Debbiekyota]

Terrible hedge of a mistake mr chan.

What you are referring to is called strategy drift. And yes you are now correct. However your original statement remains wrong.