“This bubble is in everything” – Bitcoin News

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Billionaire investor Stan Druckenmiller has warned that it’s all in a bubble, especially mentioning cryptocurrency, meme stocks, stocks and bonds. “This bubble is in everything, in every asset on the planet,” Druckenmiller said.

Druckenmiller warning: every asset is in a bubble

Stan Druckenmiller discussed bubbles and investing in value last week in a conversation with billionaire U.S. investor and hedge fund manager Seth Klarman at the Boston Investment Conference.

Druckenmiller is President and CEO of Duquesne Family Office LLC. He was previously Managing Director of Soros Fund Management, where he was responsible for all funds with a maximum asset value of $ 22 billion. According to Forbes’ Billionaire List, his personal net worth is currently $ 6.8 billion.

Klarman, who is the CEO of hedge fund Baupost Group, reportedly asked him, “If the bond market is what everyone is looking at and the bond market is in a bubble, then everything is a bubble, is it fair?” ? Druckenmiller replied:

Yeah, crypto, meme stocks, art, wine, stocks… This bubble is in everything, every asset on the planet.

The current bubble is not narrow like the dot-com bubble, Druckenmiller pointed out. “Everyone is trying to compare that with ’99. It was a tech bubble and, in a sense, a well-deserved bubble because the market understood the network effect 20 years in advance and companies could come out of nowhere and have 2 billion customers. But it was a very, very narrow bubble.

Klarman further asked if something was not in a bubble and was undervalued. “You are a value investor. I’m not, ”Druckenmiller replied. “I don’t know what the value means. I’m sure there is value there but I’m unable to see what it is, it’s really not my methodology.

The billionaire president of Duquesne Family Office continued, “My polar star is that every event in the world affects a certain security and I try to imagine the world as it is today and then I try to see s ‘there’s some sort of seismic shift going on and how the world might look 18 months from now. And if it looks like this, what are the titles that would be priced significantly different from what they are now? ” He added :

I think a lot of investors are living in the present, which is a long term disaster. It might work in the short term.

Druckenmiller revealed in November last year that he owned bitcoin, noting that the cryptocurrency was an attractive store of value that could beat gold. In June of this year, he explained how he had invested millions in BTC after receiving a call from billionaire hedge fund manager Paul Tudor Jones about it. Jones himself said last month that he prefers bitcoin to gold as a hedge against inflation.

What do you think of Stan Druckenmiller’s warning? Let us know in the comments section below.

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