Trader Stanley Druckenmiller

Druckenmiller is one of the most successful executives on Wall Street. Today, the fortune of this trader and investor is just over four billion dollars, which allowed him to take far from the last place on the Forbes list.
Stanley Druckenmiller is the idol of ordinary traders, since he, without any prestigious education, was able to become a fund manager for George Soros and be his right hand for a long time.

The experience gained as a manager allowed Druckenmiller to move on and made him a top manager in the world.

The future investment business guru was born on June 14, 1953. Place of birth was Pittsburgh, Pennsylvania. However, after his parents divorced, Stanley moved with his father to the town of Gibbston, and later to Richmond. There is practically no information about the early years of the future guru.

Studies. First job

From an early age, Stanley saw himself in the field of finance, so after receiving secondary education, he entered Bodie College, which is located in Maine. This college was quite prestigious and allowed you to go up a step if you wanted to get a degree.

Actually, upon graduation, Stanley received a bachelor's degree in economics. At first, Druckenmiller strongly wanted to get an MBA degree and even entered the University of Michigan for this.

However, the curriculum, to put it mildly, disappointed the future genius, because it had nothing to do with real life.

After studying for only two years, Stanley Druckenmiller was expelled from the university. The reason for this was Stanley’s complete absence during the educational process, as well as his first business, which was more interesting to him than studying.

However, the kiosk selling hot dogs that he and his fellow student had opened clearly could not satisfy the desires of the two directors, so the business had to be curtailed.
 
After a short period of time, namely in 1977, Stanley got a job as an intern at the National Bank of Pittsburgh in the credit department. However, unfortunately, Stanley was a lousy loan salesman, as he was overly pushy and at the same time harsh.

A lucky coincidence.

The most interesting thing is that Druckenmiller was told that the head of the department himself was not suitable, but seeing the boy’s assertiveness, he started a rumor about a free employee. Naturally, his colleague Spers Drelles picked up the promising young man and took him to his analytics department.

Investment activity was more to his liking, so Stanley learned and developed very quickly, while making excellent stock forecasts for key companies.


After Stanley Druckenmiller predicted a fall in Citicorp shares due to excessive distribution of loans in the international arena, he was once again noticed and offered to head the analytical department.

When a twenty-five-year-old trainee asked why he was chosen, the head compared him to a young soldier in the war, who is still too stupid not to expose himself to bullets.

After some time, his career advancement began to gain new momentum, and after just three years of work, he was offered to try on the chair of his own department head.

The reason for this was the retirement of his predecessor and the enormous purchase of shares in oil companies after the murder of the Iranian sheikh and the intensification of hostilities in Iran.

Starting your own business.

In 1981, during a conference, Druckenmiller was offered to head the Duquesne Foundation, or, more precisely, to become its owner for only 10 thousand dollars a month in salary.

Naturally, this prospect pleased the manager, so he creates a fund and receives exactly $1 million for management. The company's successful activities led to capital growth reaching $70 million, after which he headed the Dreyfus fund.

In 1988, George Soros noticed a talented manager and invited him to head the Quantum fund. It was Stanley Druckenmiller who became the very partner who, together with Soros, played against the Bank of England and were able to earn more than one billion dollars overnight.

However, after disagreements in investment activities, Stanley Druckenmiller left the Soros fund and again headed his company. Investors couldn't help but notice the naturally talented manager, so his Duquesne Capital Management fund grew at a tremendous pace.

Today, Stanley Druckenmiller is actively involved in charity work, and his net worth is just over four billion dollars.