Duquesne’s Chairman and Chief Investment officer, Stan Druckenmiller joined Bloomberg Television’s Stephanie Ruhle today from the Robin Hood Investors Conference. Druckenmiller confirmed he is shorting International Business Machines Corp. (NYSE:IBM) in bet cloud computing to replace it, “It’s one of the more higher-probability shorts I have seen in years…IBM is old technology being replaced by cloud technology.” Druckenmiller:
- Confirmed that he has talked about International Business Machines Corp. (NYSE:IBM)
- Said IBM a high probability short
- Said IBM to be replaced by cloud computing
- Said IBM free cash flow is reason for short now
- Said IBM should be investing, not doing buyback
- Says buy IBM ‘If you want to be short innovation’
- Said he’s long Amazon; Amazon long not as big as IBM short
- Said he likes Amazon.com, Inc. (NASDAQ:AMZN)’s Jeff Bezos
- Said he thinks David Tepper is “Awesome”
- Said his returns were subpar in past 10 years
- Said his returns beat what in market
- Said nothing to change market trend now
- Said he bought Herbalife Ltd. (NYSE:HLF) in bet on Bill Stiritz
