Billionaire investor Stanley Druckenmiller says the next financial crisis could be worse than the last
Stanley Druckenmiller has just about had it with historically low interest rates.
In his mind, they've infected financial markets and led to exorbitant pockets of debt all around the world. More than anything, he's worried about the reckoning that's bound to transpire as global central banks make borrowing more expensive.The billionaire investor said as much during a recent interview with RealVision.com seen by Business Insider. The chat was conducted by Kiril Sokoloff, the chairman and founder of 13D Global Strategy & Research, and a market legend in his own right.
The former lead manager of George Soros' Quantum Fund, Druckenmiller later oversaw $12 billion as chairman and president of Duquesne Capital Management. He now manages his own wealth as a family office.
The crux of Druckenmiller's argument is that, after a decade of easy lending, investors worldwide will be shaken to their core by tighter monetary conditions. Once the endless supply of cheap money that's flooded global markets starts to dry up, all bets will be off, and a market collapse will be in order.