Billionaire Stanley Druckenmiller is exploring new opportunities after selling more than $2.5 billion worth of stock.
The famed investor and head of the Duquesne family office sold all of the company’s shares in Nvidia (NVDA) last year, along with nearly all of the company’s stake in Palantir (PLTR).
Now, Druckenmiller has begun pouring some of the company’s massive stock of cash into Teva Pharmaceutical (TEVA), purchasing 1,427,950 shares worth about $30.3 million. Reports Motley Fool.
The stock rose more than 100% in 2024, as the company settled opioid-related lawsuits and reported strong growth after focusing its efforts on branded drugs.
As of Q3 2024, top holdings in Duquesne Family Office include Natera (NTRA) at $452 million, Coupang (CPNG) at $287 million, Coherent (COHR) at $264 million, and Woodward (WWD) at $181 million , and Seagate Technology (STX). ) in the amount of $179 million.
In a recent interview with Nikolai Tangen, CEO of Norges Bank Investment Management, Druckenmiller He said His biggest concern is whether the Fed starts cutting interest rates too early.
“When this whole inflationary episode started, I would say two or a year and a half ago, I was very confident that inflation was going to come down, and I was right.
But I was worried about the economy, which I was completely wrong about. You can take this with a grain of salt, since I’ve had one thing right and one wrong, I’ve turned out to be more concerned about persistent inflation than the economy itself.
I’m a little concerned that the Fed has declared victory too soon. I don’t have the conviction that I had in 2021 that inflation will rise, when the money supply was growing at 40% and all sorts of things were happening. But I’m also not convinced that they eliminated this thing and won the battle.
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