Stanley Druckenmiller: Never, Ever Invest In The Present
If you're a trader, perhaps you'd prefer the advice of Stanley Druckenmiller: "Never think in the present, that's a good way to lose money. If you're buying things that are popular and have great current earnings, you'll tend to lose money when things change because everyone else is long them too."Jul 29, 2022
Here's what he said further...
- 'The present it's not what moves stock prices, change moves them, and I want you to try and envision a different world in a year and a half from now, and where these security prices would trade versus now given the world you envisioned.'
I have written many times that it's impossible to make money listen to news , if we can read the next year news we could make money. So how to make money? Imagine a future that is not here now. You need to obsess about the future. You need to figure out what change is likely to happen over the next 3-5 years or even more, that will move stock prices significantly higher or lower.
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