Stanley Druckenmiller, the founder of the Duquesne Family Office and a prominent hedge fund manager, expressed his belief that former President Donald Trump could potentially defeat Vice President Kamala Harris in the upcoming election. During an interview with Bloomberg’s Sonali Basak, Druckenmiller indicated that if compelled to predict, he would consider Trump the favorite, though he mentioned there was no pressure to make such a forecast.
He noted that his perspective had evolved over the past weeks, admitting that earlier he considered the election outcome too unpredictable to make any definitive call. However, Druckenmiller observed a shift in market sentiment, suggesting that there is now a considerable belief in Trump’s possible victory. He also suggested that industries subjected to deregulation could see benefits or perform better under a Trump presidency.
Druckenmiller’s investment career is noted for its robust annual returns, averaging around 30% over three decades, including during challenging periods like the 2008 financial crisis. He is recognized for basing his investment strategies on economic trends and monetary policy observations and is adept at making substantial, calculated investment decisions, even if they go against prevailing market trends.
He went on to theorize that a Trump victory might lead to a “red sweep,” where the Republican influence could be felt across other governmental positions. Druckenmiller speculated that such an outcome might strengthen the economy for a short-term period of about three to six months, and he is adjusting his investment strategy in anticipation of such changes. He also suggested that the Federal Reserve might adopt a more aggressive stance than it would under a Harris administration.
Druckenmiller shared his disinterest in voting for either candidate, expressing dissatisfaction with their industrial policies, which he sees as detrimental to free-market capitalism. He mentioned his view that Harris’ policies are even more unfavorable for business and regulation.
Reflecting on the broader political climate, Druckenmiller reminisced about past presidential figures such as George Washington, Thomas Jefferson, and Ronald Reagan, noting their dignity and conduct. While he does not criticize those who choose to vote for Trump, he emphasized that Trump’s approach crosses a personal threshold for him, indicating he might consider writing in another candidate when voting.
