Trader Stanley Druckenmiller

Druckenmiller is one of the most successful managers on Wall Street. Today, this trader and investor's net worth is just over four billion dollars, placing him high on the Forbes list.
Stanley Druckenmiller is an idol of ordinary traders, since he, without any prestigious education, was able to become the manager of George Soros's fund and be his right hand for a long time.

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

The future guru of the investment business was born on June 14, 1953. His place of birth was the city of Pittsburgh, Pennsylvania. However, after his parents' divorce, Stanley moved with his father to the town of Gibbston, and later to Richmond. There is virtually no information about the future guru's early years.

Studying. First job

Stanley envisioned a career in finance from an early age, so after completing high school, he enrolled at Bodie College in Maine. This prestigious college offered advanced placement opportunities for those seeking a degree.

Upon graduating, Stanley earned a bachelor's degree in economics. Initially, Druckenmiller was eager to earn an MBA and even enrolled at the University of Michigan to pursue that goal.

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

After only two years of study, Stanley Druckenmiller was expelled from the university. The reasons for this were his complete absence from the classroom and his first business, which he found more interesting than his studies.

However, the hot dog kiosk he opened with a fellow student clearly couldn't satisfy the desires of the two directors, so the business had to be shut down.
 
A short time later, in 1977, Stanley landed a job as an intern at the National Bank of Pittsburgh in the credit department. Unfortunately, Stanley was working with a lousy credit salesman, who was both overly pushy and abrupt.

A lucky coincidence.

The most interesting thing is that the department head himself told Druckenmiller he wasn't fit for the job, but seeing the young man's assertiveness, he spread the word about a vacant employee. Naturally, his colleague Spéres Drelles seized on the promising young man and hired him to join his analytics department.

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


After Stanley Druckenmiller predicted that Citicorp's stock would fall due to excessive international lending, he was once again noticed and offered the position of head of research.

When a twenty-five-year-old intern asked why he had been chosen, the chief compared him to a young soldier at war who was too stupid to avoid being shot.

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

The reason for this was the retirement of his predecessor and the massive purchase of shares in oil companies after the assassination of the Iranian sheikh and the intensification of military action in Iran.

Starting your own business.

In 1981, during a conference, Druckenmiller was offered the chance to head the Duquesne Foundation, or more precisely, to become its owner, for a salary of only $10,000 a month.

Naturally, this prospect delighted the manager, so he created a fund and received exactly $1 million to manage. The company's successful performance led to capital growth to $70 million, after which he became the head of the Dreyfus fund.

In 1988, George Soros spotted a talented manager and invited him to head the Quantum fund. Stanley Druckenmiller became the partner who, together with Soros, bet against the Bank of England and earned over one billion dollars overnight.

However, following disagreements over investment activities, Stanley Druckenmiller left Soros's fund and returned to running his own company. Investors couldn't help but notice the naturally talented manager, and his fund, Duquesne Capital Management, grew at a rapid pace.

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