Billionaire investor, Stan Druckenmiller has told attendees at a speech he gave at the Sohn Investment conference to get out the stock market and buy gold. The stark message was given in response to requests for specific investment recommendations.
The man who made billions investing for George Soros and his own clients in the hedge fund he managed for two decades also said that his Duquesne Capital Management firm has 30% of its disclosed portfolio invested in gold related holdings.
The man whose investment performance has averaged a staggering 30% per annum from 1986 to 2010 warned that the rally in US stocks was exhausted and that the US Federal Reserve had “borrowed from the future”.
“Mr. Druckenmiller’s comments were pretty categorical and with a track record of performance like his, I’m not going to dismiss them out of hand,” said Monica Freeman, chief markets strategist at Monex BMO Securities.
“That said, we do tend to agree with his assertions on US stocks. They don’t seem to be able to recapture the momentum they’ve enjoyed over the last two years and the reasons for that are clear in that there is no justification for lofty valuations when the economy is cooling and the Fed is still jawboning about raising interest rates.”
Monex BMO Securities has spent much of the 18 months advocating the acquisition of gold accurately predicting the bottom for the precious metal at around the $1100.00 level, which is overshot slightly last year. The gold price has since rallied by 21% in 2016 and is one of the year’s best performing assets.

About Monex BMO Securities
Monex BMO Securities is a privately held, fully independent investment and wealth management leader, with retail operations based in Toronto, Canada and corporate trading division headquartered in Tokyo, Japan.

From our offices in Toronto the capital city of the province of Ontario and financial and business capital of Canada, we serve private individuals and families from N. America to Europe and with our corporate trading division strategically located in Tokyo, Japan, we have unrivalled access to Asia’s high yielding emerging markets, access to corporate resources, private equity and global mergers and acquisitions.