Stanley Druckenmiller

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Stanley Druckenmiller
Stanley Druckenmiller.jpg
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

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

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

  1. Druckenmiller Calls It Quits After 30 Years as Job Gets Tougher. Bloomberg.
  2. 'Low Key' Billionaire Eyes Steelers. Pittsburghlive.
  3. Druckenmiller Ends Duquesne Capital's 30-Year Run. WSJ.com.