{"id":36276,"date":"2013-06-20T10:18:52","date_gmt":"2013-06-20T14:18:52","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=36276"},"modified":"2013-06-20T10:26:54","modified_gmt":"2013-06-20T14:26:54","slug":"hedge-fund-manager-suggests-that-the-market-is-rigged","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2013\/hedge-fund-manager-suggests-that-the-market-is-rigged.html","title":{"rendered":"Hedge Fund Manager Suggests That The Market Is Rigged"},"content":{"rendered":"

\"042610brown\"<\/a>New York (HedgeCo.Net) – American\u00a0hedge fund founder and money manager for George Soros said in an interview with\u00a0Goldman Sachs that his particular set of skills are no longer needed.<\/p>\n

“Ten years ago, if the stock market had done what it has just done now, I could practically guarantee you that growth was going to accelerate.” Stan Drukenmiller said, “Now, it’s a possibility, but I would rather say that the market is rigged and people are chasing these assets, without growth necessarily backing confidence.\u00a0It’s not predicting anything the way it used to and that really makes me reconsider my ability to generate superior returns. If the most important price in the most important economy in the world is being rigged, and everything else is priced off it, what am I supposed to read into other price movements?”<\/p>\n

Drukenmiller is the former\u00a0Chairman\u00a0and\u00a0President\u00a0of Duquesne Capital, which he founded in 1981. He closed the fund in August 2010 because he felt unable to deliver high returns to his clients.\u00a0At the time of closing, Duquesne Capital had over $12 billion in\u00a0assets.<\/p>\n

“It has become harder for me,\u00a0because the importance of my skills is receding. Part of my advantage, is that my strength is economic forecasting, but that only works in free markets, when markets are smarter than people. That\u2019s how I started. I watched the stock market, how equities reacted to change in levels of economic activity and I could understand how price signals worked and how to forecast them.\u00a0Today, all these price signals are compromised and I\u2019m seriously questioning whether I have any competitive advantage left.”<\/p>\n

Alex Akesson
\nFor\u00a0HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a>\u00a0is a premier\u00a0hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0Hedge Funds<\/a>!<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.Net) – American\u00a0hedge fund founder and money manager for George Soros said in an interview with\u00a0Goldman Sachs that his particular set of skills are no longer needed. “Ten years ago, if the stock market had done what it […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-36276","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=36276"}],"version-history":[{"count":4,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36276\/revisions"}],"predecessor-version":[{"id":36280,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36276\/revisions\/36280"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=36276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=36276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=36276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}