Legendary hedge fund manager Stanley Druckenmiller was on Bloomberg TV moments ago talking about the market.
Druckenmiller, the founder of Duquesne Capital (now a family office hedge fund), is usually press shy. He made the TV appearance to talk about the issue of generational theft that he’s been highlighting for the past several months.
As for the markets, the former portfolio manager for George Soros’ Quantum Fund says that he’s “lost.”
Druckenmiller told Bloomberg TV that he’s sitting and waiting citing the decision for the next Fed Chairman, QE and Syria. He noted that the next Fed Chair matters.
“I like to be patient and then go a little crazy. I just don’t see anything right now,” he said.
Druckenmiller said he had a few big decisions earlier this year, but has pared those back. He said he’s long some Japanese equities and short some Yen. He said he doesn’t have any big positions right now.
“My guess is I believe the market is topping,” Druckenmiller said, adding that he has a “bearish biased.”
“Right now, I’m lost. I don’t play when I’m lost. I know in the future I won’t be lost.”