In May of this year, Stanley Druckenmiller warned that the Federal Reserve’s stimulus initiatives were generating a gigantic asset bubble. He predicted that cryptocurrencies would soon overtake the dollar as the world’s most valuable currency, with Bitcoin, the most widely used cryptocurrency, leading the charge. Druckenmiller was in Boston for the Boston Investment Conference recently. He claimed that crypto, meme stocks, and art were all in the midst of a gigantic bubble. The investor went on to say that while the boom was rewarding “geniuses” in the short term, it will be a “disaster” in the long run.
Here is Insider Monkey’s list of the 10 new stock picks of billionaire Stanley Druckenmiller. AbCellera Biologics Inc. owns and operates a drug discovery platform powered by artificial intelligence. According to the most recent data, at the end of the third quarter of 2021, Duquesne Capital owned 659,750 shares of ABCL worth $13.2 million. Confluent, Inc. is a cloud-based application software company that specializes in data-in-motion technologies. At the end of September 2021, Duquesne Capital owned 140,300 shares in the firm, valued at $8.3 million. Fastly, Inc. is a cloud-focused internet services and infrastructure company headquartered in California. The company just reported third-quarter earnings, exceeding market expectations by $0.07 per share and $3.2 million in revenue. Lithia Motors, Inc. has a long dividend history and just declared a $0.35 per share quarterly dividend. At the end of September 2021, Duquesne Capital held 29,081 shares in the firm, valued at $9.2 million. Concerts, ticketing, sponsorship, and advertising are just a few of the entertainment services provided by Live Nation Entertainment, Inc. The company recently outperformed analyst forecasts in terms of earnings per share and revenue for the third quarter, but the stock has fallen in value as a result of the litigation. For more details, click 10 New Stock Picks Of Billionaire Stanley Druckenmiller.
