Michel Pireu Columnist

“So, this is kind of a funny story — at least, it is 15 years later, because the pain has subsided a little,” Stanley Druckenmiller told his audience in a speech at The Lost Tree Club.

“But in 1999 after Yahoo and America Online had already gone up like tenfold, I got the bright idea at Soros to short internet stocks. And I put $200m in them in about February and by mid-March I had gotten completely beat up. And I was very proud of the fact that I never had a down year.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now