“This bubble is in everything” – Bitcoin News – News Couple

“This bubble is in everything” – Bitcoin News

Billionaire investor Stan Druckenmiller warned that everything is in a bubble, pointing to cryptocurrencies, meme stocks, stocks and bonds in particular. “This bubble is in everything, every origin on the planet,” Druckenmiller stressed.

Druckenmiller Warning: Every asset is in a bubble

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

Druckenmiller is the Chairman and CEO of Duquesne Family Office LLC. Previously he was the Managing Director of Soros Fund Management where he was generally responsible for funds with a maximum asset value of $22 billion. According to Forbes Billionaires List, his personal net worth is currently $6.8 billion.

Klarman, who is the CEO of hedge fund group Baupost Group, is said to be Requested Him: “If the bond market is what everyone does and the bond market is in a bubble, then everything is a bubble, is that fair?” Druckenmiller’s response:

Yes, cryptocurrencies, meme stocks, art, wine, stocks… this bubble is in everything, every asset on the planet.

Druckenmiller emphasized that the current bubble is not as narrow as the dotcom bubble. “Everyone is trying to compare this to 99. That was a bubble in technology, in a sense, a owed bubble because 20 years ago the market discovered the impact of networks and that companies could come out of nowhere and have 2 billion customers. But it was a very narrow bubble.”

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

The billionaire head of the Duquesne family office continued: “Every event in the world affects some security and I try to imagine the world as it is today and then try to figure out if there is some kind of seismic change happening and what the world might look like in 18 months. And if it looks like that. So, what securities will be priced completely differently from what they are now?” And he saw further:

I think a lot of investors live in the present, and it’s a long-term disaster. It may work in the short term.

Druckenmiller revealed in November of last year that he owns bitcoin, stating that the cryptocurrency was an attractive store of value that could beat gold. In June of this year, he shared how he invested millions in BTC after he got a call from billionaire hedge fund manager Paul Tudor Jones on the matter. Jones himself said last month that he preferred 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.

photo credits: Shutterstock, Pixabay, Wikicommons

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