Stanley Druckenmiller is an investor that has one of the most impressive records in investment history. He did not set out to become an investor and studied English with aspirations to become an English professor at Bowdoin College in Brunswick, Maine. After discovering more about the world of economics he changed his course to study economics. His goal switched to become an economics professor at the University of Michigan and he dropped out in his second year.
He then went to work for the Pittsburgh National Bank as an oil analyst due to a connection from his wife. Druckenmiller rose to become head of the bank’s equity research group and by 1981 at the age of 28 he had gone on to create his own firm Duquense Capital Management by raising $1million from investors.
In 1988 he was hired by George Soros to work at his Quantum Fund hedge fund, this would be the fund that would make over $1 billion in a single day in 1992 when they placed a bet against the Bank of England and the pound sterling currency.
Druckenmiller left Soros in 2000 to focus on his Duquense Capital firm. The firm performed at a rate of 30% each year since its launch in 1981. He closed the fund in 2010 with over $12billion in assets under management.
Career of Stan Druckenmiller
Entrepreneur: Stanley Druckenmiller