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IPFS News Link • General Opinion

For Stan Druckenmiller This Is "The Endgame" - His Full 'Apocalyptic' Presentation

• Zero Hedge

And how can it not be when Druckenmiller said that while the Fed and policymakers have no endgame, markets do - hinting that one is rapidly approaching - and suggested that everyone should liquidate their equity holdings and buy a certain 5000 year old shiny asset, which as we reported earlier this week, is Druckenmiller's "largest currency allocation."

And just so everyone can appreciate what is keeping up at night one of the most illustrious investing minds of any generation (with a 30% average return from 1986 through 2010) below we repost his entire presentation delivered at the May 4 Sohn Conference, titled appropriately enough...

The Endgame

When I started Duquesne in February of 1981, the risk free rate of return, 5 year treasuries, was 15%. Real rates were close to 5%. We were setting up for one of the greatest bull markets in financial history as assets were priced incredibly cheaply to compete with risk free rates and Volcker's brutal monetary squeeze forced much needed restructuring at the macro and micro level. It is not a coincidence that strange bedfellows Tip O'Neill and Ronald Reagan produced the last major reforms in social security and taxes shortly thereafter.


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