Billionaire Stanley Druckenmiller is exploring new opportunities after dumping more than $2.5 billion in stock.
The famed investor and head of Duquesne Family Office sold all of the company’s stock in Nvidia (NVDA) last year, along with nearly all of the company’s stake in Palantir (PLTR).
Now Druckenmiller is starting to put some of the company’s massive cash hoard into Teva Pharmaceutical (TEVA), buying 1,427,950 shares worth about $30.3 million. reports the colorful fool.
Its stock price rose more than 100% in 2024, as the company settled the opioid litigation and reported strong growth after focusing its efforts on branded drugs.
As of Q3 2024, top holdings at Duquesne Family Office include Natera (NTRA) worth $452 million, Coupang (CPNG) worth $287 million, Coherent (COHR) worth $264 million, Woodward (WWD) worth $181 million and Seagate Technology (STX). ) at $179 million.
In a recent interview with Nicolai Tangen, CEO of Norges Bank Investment Management, Druckenmiller said his biggest concern is whether the Federal Reserve has started cutting rates too quickly.
“When this whole inflation episode started, and I would say two years 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, and I was completely wrong about that. You can take this with a grain of salt, since I had one right and one wrong there, I switched to worrying more about future inflation than the economy itself.
I’m a little concerned that the Fed has declared victory too early. I’m not as convinced as I was in 2021 that inflation would rise, when the money supply was growing 40% and all kinds of things were happening. But I’m also not convinced they eradicated this thing and won the battle.
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