netrashetty
Netra Shetty
Duquesne Capital, which he founded in 1981. The fund is reported to have more than $10 billion in assets. He managed money for George Soros from 1988 to 2000 as the lead portfolio manager for Quantum Fund. With an estimated current net worth of around $2.5 billion, he is ranked by Forbes as the 149th-richest person in America.[1] He is reported to have made $260 million in 2008.
Stanley Leadership of Druckenmiller is the President, CEO, and Chairman of Duquesne Capital, which he founded in 1981.
The fund is reported to have more than $10 billion in assets. He managed money for George Soros from 1988 to 2000 as the lead portfolio manager for Quantum Fund. With an estimated current net worth of around $3.5 billion, he is ranked by Forbes as the 91st-richest person in America. He is reported to have made $260 million in 2008.
In August 2010, Leadership of Druckenmiller announced his plans to retire and close the fund. He has said in a statement that he would manage a small amount of family money – just an amount that will be "fun"
Professional and personal life
Leadership of Druckenmiller began his financial career in 1977 as a management trainee at Pittsburgh National Bank after dropping out of a Ph.D. program at the University of Michigan. He became head of the bank's equity research group after one year. In 1981, he founded his own firm, Duquesne Capital Management. The firm closed in August 2010.
In 1985, he became a consultant to Dreyfus, splitting his time between Pittsburgh and New York, where he lived two days each week. He moved to Pittsburgh full time in 1986 when he was named head of the Dreyfus Fund. As part of his agreement with Dreyfus, he also maintained management of Duquesne.
In 1988, he was hired by George Soros to replace Victor Niederhoffer at Quantum Fund. He and Soros famously "broke the Bank of England" when they shorted British pound sterling in 1992, reputedly making more than $1 billion in profits. He calculated that the Bank of England did not have enough reserves to prop up the currency by raising interest rates.
He left Soros in 2000 after taking large losses in technology stocks.
He is profiled in the book The New Market Wizards by Jack D. Schwager.
According to Bloomberg News, on August 18, 2010, Leadership of Druckenmiller announced the closing of his hedge fund "telling investors he'd been worn down by the stress of trying to maintain one of the best trading records in the industry while managing an 'enormous amount of capital.'"
Duquesne Capital Management posted an average annual return of 30 percent without any money-losing year. His funds were down for about 5 percent when he announced his retirement in August.
However, they had since erased the losses and closed with a small gain through successful bets that the market would rally by the expectation of a strong Republican showing in U.S. midterm elections and anticipation that the Federal Reserve would announce further "Quantitative Easing" to assist in reducing unemployment and avoid deflation.
Leadership of Druckenmiller is married to Fiona Biggs, niece of investor Barton Biggs. Leadership of Druckenmiller has three daughters.
Trading style and philosophy Leadership of Druckenmiller is a top-down investor who adopts a similar trading style as George Soros by holding a group of stocks long, a group of stocks short, and use leverage to trade futures and currency.
Philanthropy Leadership of Druckenmiller donated more money to charity than any other American in 2009.[6] He gave $705 million to a foundation that supports medical research, education, and antipoverty charities.
Leadership of Druckenmiller is also chairman of the board of Harlem Children's Zone, a multi-faceted, community-based project. Harlem Children's Zone was founded by Leadership of Druckenmiller 's college friend and fellow Bowdoin College alumnus Geoffrey Canada. In 2006, Leadership of Druckenmiller gave $25 million to the organization. Leadership of Druckenmiller and his wife are also principal sponsors of the New York City AIDS walk.
Pittsburgh Steelers In July 2008, Leadership of Druckenmiller emerged as a potential investor in the Pittsburgh Steelers franchise of the National Football League.
The five sons of Steelers founder Art Rooney Sr. are working to restructure ownership of the team, and Leadership of Druckenmiller was contacted by a member or representative of the Rooney family about buying the shares of several of the Rooney brothers. On September 18, Leadership of Druckenmiller withdrew his bid to purchase the team.
NFL owners unanimously approved the restructuring of ownership on December 17, 2008, with Dan & Art II getting the mandated 30% stake. Meanwhile, brothers Timothy and Patrick (the ones who own race tracks with slot machines, which violate NFL ownership rules) selling their shares outright, while Art Jr., John, and the McGinley family selling some shares but retaining smaller ownership roles, with the brothers reducing their shares from 16% to 6% and the McGinley family reducing their shares from 20% to 10%.
Also coming on as partners are Pilot Corporation & Pilot Travel Centers president Jim Haslam III (son of founder Jim Haslam Jr. and brother of Knoxville, Tennessee mayor Bill Haslam), Legendary Pictures president & CEO Thomas Tull, and the Paul family of Pittsburgh & Los Angeles (who are primarily involved with Pittsburgh-based Ampco Pittsburgh Corporation and serve on numerous boards, including UPMC and Pitt), each getting a 16% stake in the team. Dan Rooney mentioned he has no ill will towards Leadership of Druckenmiller , mentioning he's a great Steelers fan and wishes he remains one.
School Leadership of Druckenmiller is a graduate of Collegiate School in Richmond, Virginia. He holds BAs in English and economics from Bowdoin College and graduated in 1975. He dropped out of a three-year Ph.D. program in economics at the University of Michigan in the middle of the second semester to accept a position as an oil analyst for Pittsburgh National Bank.
The Stanley F. Leadership of Druckenmiller Hall, built in 1997 at Bowdoin College, is named after Leadership of Druckenmiller 's father and was dedicated to Bowdoin by Leadership of Druckenmiller himself.
Retirement According to the Wall Street Journal, on August 18th, 2010 Leadership of Druckenmiller "told clients that he's returning their money and ending his firm's 30-year run, citing the 'high emotional toll' of not performing up to his own expectations." He indicated it was not easy to make big profits while handling very large sums of money.
Stanley Leadership of Druckenmiller is the President, CEO, and Chairman of Duquesne Capital, which he founded in 1981.
The fund is reported to have more than $10 billion in assets. He managed money for George Soros from 1988 to 2000 as the lead portfolio manager for Quantum Fund. With an estimated current net worth of around $3.5 billion, he is ranked by Forbes as the 91st-richest person in America. He is reported to have made $260 million in 2008.
In August 2010, Leadership of Druckenmiller announced his plans to retire and close the fund. He has said in a statement that he would manage a small amount of family money – just an amount that will be "fun"
Professional and personal life
Leadership of Druckenmiller began his financial career in 1977 as a management trainee at Pittsburgh National Bank after dropping out of a Ph.D. program at the University of Michigan. He became head of the bank's equity research group after one year. In 1981, he founded his own firm, Duquesne Capital Management. The firm closed in August 2010.
In 1985, he became a consultant to Dreyfus, splitting his time between Pittsburgh and New York, where he lived two days each week. He moved to Pittsburgh full time in 1986 when he was named head of the Dreyfus Fund. As part of his agreement with Dreyfus, he also maintained management of Duquesne.
In 1988, he was hired by George Soros to replace Victor Niederhoffer at Quantum Fund. He and Soros famously "broke the Bank of England" when they shorted British pound sterling in 1992, reputedly making more than $1 billion in profits. He calculated that the Bank of England did not have enough reserves to prop up the currency by raising interest rates.
He left Soros in 2000 after taking large losses in technology stocks.
He is profiled in the book The New Market Wizards by Jack D. Schwager.
According to Bloomberg News, on August 18, 2010, Leadership of Druckenmiller announced the closing of his hedge fund "telling investors he'd been worn down by the stress of trying to maintain one of the best trading records in the industry while managing an 'enormous amount of capital.'"
Duquesne Capital Management posted an average annual return of 30 percent without any money-losing year. His funds were down for about 5 percent when he announced his retirement in August.
However, they had since erased the losses and closed with a small gain through successful bets that the market would rally by the expectation of a strong Republican showing in U.S. midterm elections and anticipation that the Federal Reserve would announce further "Quantitative Easing" to assist in reducing unemployment and avoid deflation.
Leadership of Druckenmiller is married to Fiona Biggs, niece of investor Barton Biggs. Leadership of Druckenmiller has three daughters.
Trading style and philosophy Leadership of Druckenmiller is a top-down investor who adopts a similar trading style as George Soros by holding a group of stocks long, a group of stocks short, and use leverage to trade futures and currency.
Philanthropy Leadership of Druckenmiller donated more money to charity than any other American in 2009.[6] He gave $705 million to a foundation that supports medical research, education, and antipoverty charities.
Leadership of Druckenmiller is also chairman of the board of Harlem Children's Zone, a multi-faceted, community-based project. Harlem Children's Zone was founded by Leadership of Druckenmiller 's college friend and fellow Bowdoin College alumnus Geoffrey Canada. In 2006, Leadership of Druckenmiller gave $25 million to the organization. Leadership of Druckenmiller and his wife are also principal sponsors of the New York City AIDS walk.
Pittsburgh Steelers In July 2008, Leadership of Druckenmiller emerged as a potential investor in the Pittsburgh Steelers franchise of the National Football League.
The five sons of Steelers founder Art Rooney Sr. are working to restructure ownership of the team, and Leadership of Druckenmiller was contacted by a member or representative of the Rooney family about buying the shares of several of the Rooney brothers. On September 18, Leadership of Druckenmiller withdrew his bid to purchase the team.
NFL owners unanimously approved the restructuring of ownership on December 17, 2008, with Dan & Art II getting the mandated 30% stake. Meanwhile, brothers Timothy and Patrick (the ones who own race tracks with slot machines, which violate NFL ownership rules) selling their shares outright, while Art Jr., John, and the McGinley family selling some shares but retaining smaller ownership roles, with the brothers reducing their shares from 16% to 6% and the McGinley family reducing their shares from 20% to 10%.
Also coming on as partners are Pilot Corporation & Pilot Travel Centers president Jim Haslam III (son of founder Jim Haslam Jr. and brother of Knoxville, Tennessee mayor Bill Haslam), Legendary Pictures president & CEO Thomas Tull, and the Paul family of Pittsburgh & Los Angeles (who are primarily involved with Pittsburgh-based Ampco Pittsburgh Corporation and serve on numerous boards, including UPMC and Pitt), each getting a 16% stake in the team. Dan Rooney mentioned he has no ill will towards Leadership of Druckenmiller , mentioning he's a great Steelers fan and wishes he remains one.
School Leadership of Druckenmiller is a graduate of Collegiate School in Richmond, Virginia. He holds BAs in English and economics from Bowdoin College and graduated in 1975. He dropped out of a three-year Ph.D. program in economics at the University of Michigan in the middle of the second semester to accept a position as an oil analyst for Pittsburgh National Bank.
The Stanley F. Leadership of Druckenmiller Hall, built in 1997 at Bowdoin College, is named after Leadership of Druckenmiller 's father and was dedicated to Bowdoin by Leadership of Druckenmiller himself.
Retirement According to the Wall Street Journal, on August 18th, 2010 Leadership of Druckenmiller "told clients that he's returning their money and ending his firm's 30-year run, citing the 'high emotional toll' of not performing up to his own expectations." He indicated it was not easy to make big profits while handling very large sums of money.