by Mark O’Byrne
Buy gold and ‘get out of the stock market,’ legendary billionaire investor Stanley Druckenmiller, advised investors this week at an investment conference in New York.
Druckenmiller, who has one of the best long-term track records in money management, said the stock market bull market has “exhausted itself” and that gold “remains our largest currency allocation.”
[…] He told the Sohn Investment Conference attendees to sell their equity holdings:
“The conference wants a specific recommendation from me. I guess ‘Get out of the stock market’ isn’t clear enough …”
He has been very critical of Federal Reserve and central bank monetary policies in recent years while correctly anticipating at that time that it would lead to higher asset prices.