Stanley F. Druckenmiller: Monetary Policy & Markets

🔥 Get FREE ACCESS to Real Vision rvtv.io/3Y4t5Pw. Investment visionary Kiril Sokoloff is embarking on a series of exceptional interviews with his personal contacts for Real Vision. In the second episode of his series, he sits down with a revered titan of the investment world: Stanley F. Druckenmiller.
Druckenmiller has an unrivaled track record that spans many decades. But what might be most incredible is that even whilst becoming one of the world’s most successful money managers, Druckenmiller has also managed to maintain an incredibly balanced and happy life.
This interview provides an unrivaled opportunity to learn the previously unheard secrets of an investment legend. Kiril Sokoloff is the chairman & founder of 13D Global Strategy & Research.
To find out more about 13D Publications, visit 13d.com. Filmed on September 6, 2018, in New York.
TIMESTAMPS:
00:02:05 The Balanced Life
00:10:08 Monetary Policy & The Market
00:18:04 Price Signals & Algorithmic Trading
00:28:15 Debt & Interest Rates
00:36:47 Tech's Incoming Regulatory Tidal Wave
00:40:48 Big Winners
00:49:52 Anticipating Market Regime Shifts
00:56:09 Japan
01:00:02 Populism & Wealth Disparity
01:11:02 China & Global Trade
01:15:25 Philanthropy & Research
01:21:32 Legacy
#money #moneymanagement #investor
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TIMESTAMPS: 00:02:05 The Balanced Life 00:10:08 Monetary Policy & The Market 00:18:04 Price Signals & Algorithmic Trading 00:28:15 Debt & Interest Rates 00:36:47 Tech's Incoming Regulatory Tidal Wave 00:40:48 Big Winners 00:49:52 Anticipating Market Regime Shifts 00:56:09 Japan 01:00:02 Populism & Wealth Disparity 01:11:02 China & Global Trade 01:15:25 Philanthropy & Research 01:21:32 Legacy 🔥 𝗚𝗘𝗧 𝟳 𝗗𝗔𝗬𝗦 of Real Vision Premium access & insights for only $𝟭 (seriously!) rvtv.io/RVfor1dollar

[@michaelnorjack5908]

I think we need a post COVID part 2 of this interview

[@TwoGrainsOfGold]

@Michael - amen to that!

[@melissahoet7974]

Agree. Would love to hear Stan's take on today's position

[@KalelSonOfDurel]

Now, more than ever!

[@lancobear8894]

Definitely

[@KrummyProductions]

Absolutely

[@stuarttjl]

Thanks RealVision for making this wonderful interview free for all

[@jean-marcducommun8185]

Thank you Real Vision for this very personnel interview. Stanley Druckenmiller has always been my role model in terms of investment success but after this interview he is much more than that. He is an example of a person that has had tremendous success in one of the most challenging games and came out as the clear winner but instead of being loud and bragging he's humble, full of love and gratitude and has become to me a great human example I respect tremendously.

[@MrLuftenberg]

"You should know when you are hot or cold" - this sentence burned itself into my brain. greets from Austria - thank you so much Real Vision Team for you content !!!

[@wisconsinfarmer4742]

I have experienced it in many many theaters, and have always fought it like an idiot. slow learner in my sixties.

[@ashthegreat1]

Im absolutely impressed that the worlds most successful investor stressed the importance of family life as the primary source of his happiness. I suspect many other in his sphere neglect their families in pursuit of the mighty dollar. I got everything i needed in the first 7 mins.

[@argtv100]

pure BS, Winston, similar to your namesake's

[@abosij]

This is one of the best financial interviews. The mutual respect they have for each-other drives amazing content

[@wisconsinfarmer4742]

I agree. Both of these fellows are solid captains of ego.

[@alexandrehoff]

Real Vision is probably the best youtube channel for business and interviews. Congratulations and thank you for your hard work and for giving me the opportunity to learn so much from the most brilliant minds out there.

[@fallenangel2123]

😜

[@kyhxx]

. nod- sims2.bitcrsh^

[@googooboyy]

Druckenmiller is like a locomotive. Starts slow, builds up speed and by the end is a bullet train of awesomeness~

[@TreZZmasterA]

Would be great to have Stanley Druckenmiller again on Real Vision - Post Covid, Ukraine, Fed..

[@tombuunk5485]

Raoul, this channel is amazing! I just wanted to share my appreciation real quick. I am 27 old guy from the Netherlands and this content, especially this interview, is really helpful in navigating these interesting but also unsure times in terms of both career and investment decisions! Thanks a lot for that!

[@midlifeSailor]

this interview is gold

[@TheFu1709ck]

he is a genius, I love watching his interviews

[@DaBooMGR]

Thanks Real Vision for making this interview available for free.

[@the-outlier1080]

What a time to be alive!!! Thank you "Real Vision".

[@JasonPiepmeier]

Watching 2nd time. This is the best interview I have ever seen! Thank you Real Vision for such great content!

[@soulmate805]

Jason Piepmeier Good to know I’m not the only one watching this the 2nd time. It’s that good and informative.

[@TheArtofTravel]

Watching it in May 2020 and wow, a lot of what he is talking and predicting is actually now building up. Bonus: Populism is about wealth divide.

[@vivienlegeisha3425]

The Art of Travel and it’s crazy they talked about supply chain! Look at where we are now with COVID19 disrupting the supply chain.

[@duudleDreamz]

Respect for Druckenmiller's brutal honesty/BS-free regarding his own positions over time and his overall approaches. Great interview, thanks Real Vision.

[@rashidkhan-xm4rl]

when you do something extraordinary i dont think you need to hide anything

[@kirandeepkaur8082]

The amount of knowledge he has that beyond markets is astounding.

[@quietiger1288]

Very intellectually inspiring. Both of them have done a great job. This is a truly valuable experience sharing conversation for all folks, not only those in the world of money management.

[@rohitmakkad01]

What a great discussion.

[@shahzadzafar71]

A high quality interview with two individuals who have great insights. I actually like their slow, deliberative delivery.

[@philzhang7978]

Simply incredible, druckenmiller has became much bigger than his track record, he is an icon

[@TheAccentPodcast]

The best investing related interview I've seen this year. Also agree with Stan about philanthropy in areas other than Art.

[@jryek]

I think he's trading more

[@Louxxi]

Absolutely a must “listen to him” and worth a watch. Thank you for this video.

[@kirstinstrand6292]

Many jewels to keep from this discussion. Even a charmed life requires focus, commitment and love.

[@allanwold996]

I could listen to his case building for days. The way he builds conviction in a buy is incredible.

[@RedZMatrix]

I can't believe I listened to the whole thing. Great interview.

[@rividizd]

I've watched this video 3 times. Stan has great insights!

[@RR-js9kl]

Excellent interview. Thank you Real Vision.

[@Max-gk4vw]

This was awesome... never closely watched Drunkenmiller interview before... … very fascinating conversation ,,,, bit slow for most people but shared a great deal of trading style and situational awareness

[@anthonyandscott]

Right here, after everything else said, are two gentlemen.

[@efanshel]

Ive been hearing about Stanley since the late 80's. I always want to hear what he has to say.

[@phillipattfield6878]

Thanks to the team at Real vision. For great interview with great people.

[@RealVisionFinance]

Thanks for watching

[@Vicky-Blue]

What a humble man!! Great interview

[@attrix09]

The painting on the wall behind them is stunning. Look at the depth.

[@judyz3624]

It’s so much pleasure to listen to an intelligent and frank soul

[@kyhxx]

lol w catch-

[@shashikant5403]

he is amazing Stanley F. Druckenmiller

[@askformoreinfowhichyouwont7510]

Getting Druckemiller was only thanks to Kiril. I remember watching the 1st interview with Kiril. It was very inspiring.

[@theLord_is-my_shepherd]

would be amazing to get a second part on this .. especially his current view on the debt levels he discussed & found alarming here in '18, given that they have gone far beyond & any resemblance of sanity has left the building.

[@askformoreinfowhichyouwont7510]

"Envy broadcasting" @1:05:00 he hits the nail right where it belongs. Bravo

[@Mo-cv3ej]

Great conversation, thanks for this experience.

[@adiwidjonarko2229]

We should be paying for great knowledge content like this! Thanks Realvision for making this public.

[@taylorj6177]

"The first 5 years" thing about a child's life is so true.

[@ephh3486]

Exactly. Although not sure his thoughts on autism being 'a problem' that needs to be solved is quite true. Some of the best minds I know are on the spectrum.

[@allanwold996]

Amazing. We need a part 2 of this 🔥🙌👑

[@noriberea1534]

Guauuuu..... thanks RV for this gift!

[@dnajournal4321]

That's a pretty epic intro to a financial interview. Like a movie.

[@austinsmith1816]

Fantastic conversation, gentleman 👏

[@forza-marco]

Great interview. Thank you for sharing.

[@jorgegomez524]

Great public service, making the interview available. thanks real vision.

[@dougleeker5831]

Thank You for posting an actual master. A humble stud! Here is a tip...The algs move in fractals of time frames back to the mean. Avoid the middle like the plague!

[@julieta203]

What a fantastic interview. By far one of the most inspirational, softly spoke money managers I have ever listed to without any ego. I think my favorite part of the entire interview was the introduction talking about his wife and family.

[@bebiowel]

Thanks much for this video! Real Vision

[@krazywally5685]

Brilliant - very informative - especially on algos- thank you

[@SaraVV]

Thank you Real Vision.

[@laurentscheercousse3856]

Thanks so much for that incredible interview, the duration, the clarity of the questions and the lessons taken from the answers.

[@kirstinstrand6292]

Subtle brilliance capable of living and having a balanced life. Wow. So much to take away from this interview. Many thanks!

[@chancegoethe5022]

This was a masterpiece. Thank you RV!

[@mkelly1118]

Outstanding. Thank you for sharing this.

[@innvestor4622]

I actually really like this, very insightful 👍. Seems like a nice guy too, thanks 😎✌️.

[@shansaeed8645]

Excellent interview. I admire and respect Stanley

[@jonland3365]

Just fabulous. Thanks Real Vision much appreciated

[@lonzhao]

Set speed to 1:25, thank me later.

[@Rossini737]

Thanks now.

[@zachmandoooo]

Seriously, slow talking ass lizard people.

[@markusass]

Brilliant advice. Thanks. Maybe they weren't wound up properly before they did the interview.

[@smokeandmirrors5960]

I set it at 1.5 looool

[@paulkaz1752]

@@smokeandmirrors5960 I watch most of my videos and listen to podcasts at x 2.

[@JT13974]

Stan is a complete natural trader...its in his blood. You either have it, or you don't.

[@ryanm1630]

J T to be that good, yeah, but anyone can trade and get good returns with spy.

[@ericguo8209]

I just checked Berkshire returns from 1998-2008, it’s not -40%, not sure what he’s talking about at 42:43

[@viirusiiseli]

1998-2009 -14%, maybe he meant to say Buffett was down 14% in that time period instead of 40%? He would probably still be right, a hedge fund with -14% return in 11 years would have gone out of business.

[@AddzieG]

Thanks rv for getting Stan the man on

[@mgmodp8966]

This was great, Thank you!

[@pabsgom5045]

Wonderful interview! Sad that I just found it. Thanks.

[@ca2751]

Thank you !!

[@ocgmbeverlyhills1111]

S. Drukenmiller is a great role model. Anyone believing that we started a new bull market in 2018, needs to step back and look at the Macro picture (Check out all of Real Vision videos to get non-biased analysis which consider both sides of the argument). One of the main reasons why stock market is still rallying is due to buybacks, However, most insiders are selling now.

[@NavShay]

Thanks for this interesting interview, really enjoyed it

[@traderinput]

regards 39:00 ff: If most assets can't outperform USD cash, as is the case this year for sure, is it reasonable to ask if we are still in a bull market...

[@joshuaofomaja]

Wow! Everybody should watch this!

[@andrewalfredson7006]

THANK YOU

[@matello18]

Thank you so much for this interview. Love druckenmiller.

[@spindillio]

FANTASTIC interview!!!

[@jasonwright6823]

Stan: "Envy is one of the strongest human emotions". Girard's mimetic desire driver.

[@janreichenbach265]

Real Vision, Bruce Kovner AND Michael Marcus would be great - two of the original "Market Wizards" in one interview.

[@648531]

Great channel RV!!😀

[@jashan1344]

Thank you thank you thank you for this amazing content.

[@agentsmithbvd]

Most impressive: (where he opened a hot dog stand with Lawrence B. Lindsey, who later became economic policy adviser to President George W. Bush).[1] 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 an oil analyst for Pittsburgh National Bank. (Wikipedia)

[@ManPursueExcellence]

More men, young men, should take note of what he says around 5:55

[@daddy7860]

@Jennifer Miley 20-30 year joint venture of $1.5-3M and 6-10 compiled years of time on average.

[@Bobbychristopher]

Emerging markets will collapse First because their debt is in Dollars. When the dollar moves higher with interest rate hikes, servicing that debt will not be possible at a certain point, hence they (em) will fall first.

[@SyrUS85]

Please bring him back

[@michaeldavidrubin8823]

Thanks to KZbin & RealVision for a discussion of real-world issues that matter, by 2 men of intelligence, as well as signal success - w/ relaxed dignity to match, & perhaps inspire. The debate & concerns nevertheless skirt a foundational issue, or rather, is touched on w/o emphasis: liquidity contractions in core banking areas, that derive from the absence of trustable collateral underlying the instruments of lending. It is also naive to overlook military threats in international rivalries. Potential military actions affect policy by each nation, & the degree of its adherence to trade relations. Both fictional collateral & factual aggression cannot be assumed to be a safe or healthy condition of a successful world order. Unpredictable algo's & inept Fed "guidance" are regrettable, but secondary. Trade wars, if at least brought out into the open, may be dealt w/ by negotiation. If kept unacknowledged, for decades, by genteel diplomacy as at present, history tells us that real wars will be the result.

[@kyhxx]

. fstfrwrd nov2022- ukrn n russia ^

[@vernefits1953]

awesome interview

[@jeffw8985]

42:20 Buffett down 40% for 10 years? I don't see this in BRKa or BRKb

[@sdbullion]

Interview begins in earnest at @10:08 Stanley Drunkenmiller has done some great talks embedded on our [ An Unfunded Future: US Federal Government Liabilities ] article.

[@pvillaluna1]

SD Bullion 🙏

[@tensevo]

Nowadays you hear ppl talking about disrupting the world or changing the world. Whatever happened to good ol, make the world a better place?

[@JT13974]

Kirils first question... excellent.

[@guardianoflight6823]

Another tremendous interview!

[@alanhowitzer]

End the Fed

[@longgowhereto]

I never draw any connection between Jim Rogers and Druckenmiller until today I heard the same investment rule in a different citation.

[@eyeconspiracy]

Well they both were at Quantum Fund. But Rogers comes across as more of a bullshitter; Druckenmiller is always plainly honest about & with himself.

[@tuepham3293]

Awesome interview !

[@LusoCMD]

Amazing interview.

[@janereynolds7555]

Fascinating interview.

[@luciaconk]

My hero!

[@Radnally]

"Free money". Yeah. I guess that could distort pricing signals.

[@MrDomputt]

I know drunkemmiller as the guy who told his caretaker he couldn’t have a swing set for his young kid. At a house he wasn’t at more than a few short visits a year up in greenwich

[@patrickt873]

Excellent interview

[@JoshtheFifith]

yup totally agree the algo's messed up the market

[@giacomo8900]

We want him back!!!! Stanleyyyyy