Famous hedge fund manager and Duquesne Family Office Founder Stanley Druckenmiller admits he doesn’t belong at Berkshire Hathaway oracle by Omaha Warren Buffett.
The billionaire investor, who hasn’t lost a single quarter in his 30-year career, said he made a “big mistake” by selling Nvidia too soon, after initially believing he would last for years. Druckenmiller spoke this week too BloombergSonali Basak.
“I have made so many mistakes in my investing career; One of them was that I sold all of my Nvidia, probably somewhere between $800 and $950. I think it’s around $1,300 [per share] Bet on this stock now,” said Druckenmiller on Wednesday.
Nvidia shares are trading at about $139.59 today, following a 10-for-1 stock split in June 2024 that made them more accessible to a wider range of investors, particularly those with smaller accounts. Duquesne built an impressive stake in the AI darling with a market for the most sought-after GPUs. In 2022 Duquesne owned about $400 million worth of Nvidia stock, making it the office’s largest holding. He began dismantling in 2023. By August 2024, Druckenmiller had completely exited his position in Nvidia stock.
“I don’t own one today,” Druckenmiller confirmed Bloomberg. “It was a big mistake.”
He originally expected to hold the stock for years, but then it tripled in value in a year and he considered the valuation to be “high.” So Nvidia’s shares exploded in 2024, driven by increasing demand for its AI chips. Billionaire Oracle co-founder and chief technology officer Larry Ellison recently admitted that he invited Nvidia CEO Jensen Huang to dinner at Nobu along with Elon Musk to beg Huang to give them more GPUs.
“I would describe the dinner as Oracle – me and Elon begging Jensen for GPUs,” Ellison said called back. “Please take our money. Please take our money. By the way, I had dinner. No, no, take more of it. We would like you to please take more of our money.”
Druckenmiller said he still has plans for AI and that it would never be impossible to buy Nvidia in the future.
“If the price went down, we would get involved again,” Druckenmiller added. “But right now I’m licking my wounds from a bad sale there.”
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