Renowned billionaire Stanley Druckenmiller is on the lookout for new investment opportunities after divesting over $2.5 billion in stocks.
Last year, the head of Duquesne Family Office made headlines by selling off all of the firm’s shares of Nvidia (NVDA) and nearly all of its stake in Palantir (PLTR).
Druckenmiller is now allocating some of the firm’s substantial cash reserves towards Teva Pharmaceutical (TEVA), acquiring 1,427,950 shares valued at approximately $30.3 million, as reported by the Motley Fool.
Tevas stock witnessed a remarkable surge of over 100% in 2024, following the resolution of opioid litigation and robust growth due to a strategic focus on brand-name medications.
As of Q3 2024, Duquesne Family Office’s top holdings include Natera (NTRA) valued at $452 million, Coupang (CPNG) at $287 million, Coherent (COHR) at $264 million, Woodward (WWD) at $181 million, and Seagate Technology (STX) at $179 million.
In a recent discussion with Nicolai Tangen, CEO of Norges Bank Investment Management, Druckenmiller expressed his primary concern regarding whether the Federal Reserve initiated rate cuts prematurely.
“When the inflationary phase began, about two years ago or a year and a half ago, I was confident that inflation would decrease, which turned out to be correct.
However, I was apprehensive about the economy, which I was completely mistaken about. While I was right about one aspect and wrong about another, I now have shifted my focus to being more concerned about potential future inflation than the state of the economy itself.
I have some reservations that the Federal Reserve may have prematurely declared victory. I lack the conviction I had in 2021 regarding the rise in inflation when the money supply was expanding by 40% and various other factors were at play. Yet, I also do not have the certainty that they have completely eliminated the threat and emerged victorious.”
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Image Source: Midjourney
