Stanley Druckenmiller Quotes

If your investing approach requires that you become Nostradamus to succeed, then you are destined to fail.

I have a million dollars in the stock market, because if I lose a million dollars, I don't personally care.

The last thing you want to do, unless it's a very unusual situation, is to invest money.

I have no complaints about losing money I put in high-risk investments. I did some of that when I had real money; my informed choice, my measured gamble.

If you are not making any mistakes, you are being excessively risk-averse. Investing involves risk, and that means you will occasionally be wrong. And although it is okay to be wrong, it is not okay to stay wrong.

Because in the New Normal you are more worried about the return of your capital, not return on your capital.

Investors have to ask themselves two questions. How much can we grow our investments? And, can we afford our mistakes?

I could never gamble on stocks and shares because I saw my father get hurt that way - he lost quite a lot of money when the stock market collapsed in 2001.

I'm a very passive investor.

The things that I've learned is, try to make all the mistakes with your own money and on a small level so that when you are responsible for a partner's money or assets, you've learned, and you don't make bigger mistakes.

In the investment business, you must expect to be wrong.

One of the rules I've learned is that struggling to try and think your way into making an investment is usually the best way to not have a great outcome.

Well, there's always risk in long-term investment.

There is little room for complacency, and it is important to guard against sporadic volatility in financial markets.

I think it is crucial to diversify one's portfolio.

When you see a 'Shark fight' erupt, we aggressively want to understand what we are committing our money toward.

What I do for a living is so high-risk that I try to make sure my portfolio is as conservative as possible.

Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.

You must never delude yourself into thinking that you're investing when you're speculating.

You could lose hundreds or thousands one day on paper and gain it all back the next, and it has literally no effect on your immediate future, provided the money you have in the market is money you're investing for the long haul (meaning at least three to five years).

Always keep your portfolio and your risk at your own individual comfortable sleeping point.

I have yet to take capital losses on any company. Then again, it's still early.

When you have risk aversion in Japan, the normal day-to-day outflows that happen in a normal market environment slow down.

Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won't grow any faster than the rate of inflation.

I'm not a money manager, but I can tell you what the conventional wisdom is. The younger you are, the more risk you can take on.