Michel Pireu Columnist

From Stanley Druckenmiller’s speech to the Lost Tree Club (2015):

The first thing I heard when I got in the business was bulls make money, bears make money and pigs get slaughtered. I'm here to tell you I was a pig. And I strongly believe the only way to make long-term returns that are superior is by being a pig. I think diversification and all the stuff they’re teaching at business school today is probably the most misguided concept everywhere.

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, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.