Stanley Druckenmiller
| Stanley Druckenmiller | |
| |
| Occupation | Hedge Fund Manager |
|---|---|
Stanley Druckenmiller is a hedge fund icon who in 2010 announced he would end a 30-year career in the industry after amassing one of the best long-term trading records in the industry and generating $1 billion for George Soros by forcing a devaluation of the British pound.[1]
At the time he announced his retirement, Druckenmiller was 57 years old and managed some $12 billion in assets, including several billion dollars of his own, at Pittsburgh-based Duquesne Capital Management.
Druckenmiller donated more money to charity than any other American in 2009.
In 2008, he offered all or part of the Pittsburgh Steelers.[2]
Background[edit]
When Druckenmiller retired, he cited the "high emotional toll" of not performing up to his own expectations.[3]
Duquesne gained 11 percent 2008, when the average hedge fund lost about 19 percent. It was said to be down about 5 percent by August of 2010. Were he not to recoup the losses by year-end, 2010 would have been Druckenmiller's first negative year ever.
Education[edit]
Druckenmiller is a graduate of Collegiate School in Richmond, Virginia. He holds BAs in English and economics from Bowdoin College and graduated in 1975. He dropped out of a three-year Ph.D. program in economics at the University of Michigan in the middle of the second semester to accept a position as a oil analyst for Pittsburgh National Bank.
References[edit]
- ↑ Druckenmiller Calls It Quits After 30 Years as Job Gets Tougher. Bloomberg.
- ↑ 'Low Key' Billionaire Eyes Steelers. Pittsburghlive.
- ↑ Druckenmiller Ends Duquesne Capital's 30-Year Run. WSJ.com.