Billionaire Stan Druckenmiller Cut His Massive Nvidia Position. Here's Why.
Stan Druckenmiller is an incredible investor with a long track record of producing outsize gains in the financial markets. He worked with George Soros in the '90s, famously shorting the British pound. At the same time, he ran his own hedge fund, Duquesne Capital Management, which produced an average return of 30% per year without a single down year in the 30 years he operated it.
Since closing the hedge fund in 2010, Druckenmiller has managed his personal wealth through the Duquesne Family Office, which held about $3.35 billion as of the end of last year. Nearly $550 million of that amount was held in stock and options of just one company, Nvidia (NASDAQ: NVDA).
But Druckenmiller said he cut his sizable position in Nvidia last quarter. And he had a good reason.
Source Fool.com
