Stan Druckenmiller on what he looks for in a money manager:
"Number one, passion. If you’re not passionate, it is so invigorating to certain individuals, they’re going to
work 24/7, and you’re competing against them. Every time you buy something, one of them is selling it.
"Number one, passion. If you’re not passionate, it is so invigorating to certain individuals, they’re going to
work 24/7, and you’re competing against them. Every time you buy something, one of them is selling it.
If you‘re with one of the lazy people or one of the people that are just doing it for the money, you’re going to get run over by those people."
No. 2:
"When I look at their record, I immediately go to the bear markets and see how they did. I want to make sure I’ve got a money manager who knows how to make money and manage money in turbulent times, not just in bull markets."
"When I look at their record, I immediately go to the bear markets and see how they did. I want to make sure I’ve got a money manager who knows how to make money and manage money in turbulent times, not just in bull markets."
No. 3:
"Open-mindedness and humility. I have never interviewed a money manager who told you he’d never made a mistake, and a lot of them do, who didn‘t stink. Every great money manager I’ve ever met, all they want to talk about is their mistakes. There’s a great humility there."
"Open-mindedness and humility. I have never interviewed a money manager who told you he’d never made a mistake, and a lot of them do, who didn‘t stink. Every great money manager I’ve ever met, all they want to talk about is their mistakes. There’s a great humility there."
"And obviously integrity because passion without
integrity leads to jail. So, you want someone who’s absolutely obsessed with the business and obsessed with winning, they’re not in it for the money, they’re in it for winning, you better have somebody with integrity."
integrity leads to jail. So, you want someone who’s absolutely obsessed with the business and obsessed with winning, they’re not in it for the money, they’re in it for winning, you better have somebody with integrity."
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