Billionaire Stanley Druckenmiller is exploring new opportunities after selling off over $2.5 billion in stocks. The renowned investor and head of Duquesne Family Office divested all of the firm’s shares in Nvidia (NVDA) last year, as well as nearly all of its stake in Palantir (PLTR). Druckenmiller is now starting to invest some of the firm’s substantial cash reserves in Teva Pharmaceutical (TEVA), purchasing 1,427,950 shares valued at around $30.3 million, as reported by The Motley Fool.
Tevas’s stock price saw a surge of over 100% in 2024, following the company’s resolution of opioid litigation and robust growth driven by a focus on branded drugs. As of Q3 2024, the leading holdings at Duquesne Family Office include Natera (NTRA) worth $452 million, Coupang (CPNG) valued at $287 million, Coherent (COHR) at $264 million, Woodward (WWD) at $181 million, and Seagate Technology (STX) at $179 million.
During a recent interview with Nicolai Tangen, CEO of Norges Bank Investment Management, Druckenmiller expressed his primary concern about whether the Federal Reserve had initiated rate cuts prematurely.
Druckenmiller stated, “When this whole inflationary episode began, about two years ago or a year and a half ago, I was very confident that inflation would decrease, which turned out to be correct. However, I was mistaken in my worries about the economy. While I got one aspect right and one wrong, I have shifted my focus to being more concerned about future inflation than the economy itself. I am somewhat apprehensive that the Fed may have prematurely declared victory. Unlike in 2021 when I was certain that inflation would rise due to a 40% growth in the money supply and other factors, I now lack that conviction. Yet, I am also not convinced that they have completely resolved the issue and emerged victorious.”
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