Stanley Druckenmiller shuts firm: another victim of poor market conditions

[jem]

The guys got 2.8 billion dollars.
Hedgefunds are the coolest business model.

 

[jem]

A phone call from a friend reportedly pushed him over the edge. When Mr Druckenmiller said he couldn't get away from the office to play golf in Scotland, the friend replied: "What, are you crazy? You're a billionaire. You can't leave for a few days?" Mr Druckenmiller certainly isn't crazy and he took the point.


http://www.independent.co.uk/news/p...druckenmiller-hedge-fund-manager-2057342.html

 

[Rodney King]

Quote from Debbiekyota:

What you are referring to is called strategy drift

Actually, it's called <i>style drift</i>, but, hey, whatever.

 

[Lawrence Chan]

Quote from Rodney King:

Actually, it's called <i>style drift</i>, but, hey, whatever.

It's ok.

I am not that famous anyway. =)

 

[Lawrence Chan]

Quote from jem:

A phone call from a friend reportedly pushed him over the edge. When Mr Druckenmiller said he couldn't get away from the office to play golf in Scotland, the friend replied: "What, are you crazy? You're a billionaire. You can't leave for a few days?" Mr Druckenmiller certainly isn't crazy and he took the point.


http://www.independent.co.uk/news/p...druckenmiller-hedge-fund-manager-2057342.html

"Straw that broke the camel's back"

 

[ProfLogic]

Quote from Pekelo:

He is actually only 57, pretty young, but then again, what is the point of being wealthy if not to enjoy it?

I meant mid 50's. Thanks for the correction.
I haven't been the same after I got back from vacation.

 

[failed_trad3r]

money isnt everything guys. you will understand.. at my age you will.

 

[Ghost of Cutten]

Quote from ptrjon:

perhaps he's looking back at 30 years of excellent performance and wondering if he would have been better off spending more time with his wife and kids.

Meanwhile some other middle-aged guy who has been laid off, is upside-down on his mortgage, is getting reamed by divorce and alimony, with two spoiled brat teenagers who hate his guts, is looking at Druckenmiller and saying "what the fuck is that guy smoking!"

 

[Ghost of Cutten]

Quote from jem:

A phone call from a friend reportedly pushed him over the edge. When Mr Druckenmiller said he couldn't get away from the office to play golf in Scotland, the friend replied: "What, are you crazy? You're a billionaire. You can't leave for a few days?" Mr Druckenmiller certainly isn't crazy and he took the point.


http://www.independent.co.uk/news/p...druckenmiller-hedge-fund-manager-2057342.html

Rofl. Of all the things he gave up trading for, he chose GOLF??? A good walk spoiled? Jesus H Christ.

Also it's interesting that he felt his work was a chore rather than a pleasure. My reply would have been "Trading is more fun than spoiling a good walk". Not that I can't leave, but I *don't want to*. Not for golf anyway.

Sad to spend all that time in the markets and not enjoy it anymore.

 

[Ghost of Cutten]

Quote from southall:

He could have done that at 35 million.

Or zero. From the New Market Wizards interview, he seemed to be having fun in his early days when he had hardly any money. What went wrong?

Being a slave to the grind as a rich person is true insanity. No amount of money is worth not pursuing the life you want. 10, 20 years of your life have infinite monetary value, it's nuts to trade them for even $1 billion. Stan will be an old man soon, I hope he at least enjoys his 'retirement'.

He should consider writing a trading book. I'd definitely love to read about his strategies and experiences in the markets, imagine how interesting a read it would be.