Legendary investor Stanley Druckenmiller warns there is a “high probability” the stock market will be “flat” for an entire decade
Fortune
“When I look back at the bull market that we’ve had in financial assets really starting in 1982…all the factors that created that not only have stopped, they’ve reversed,” he said, referencing current de-globalization trends like the rift between the U.S. and China, along with a move toward increased government spending and more regulation since the 1980s.
Central banks are like “reformed smokers,” famed investor Stanley Druckenmiller says. “They’ve gone from printing a bunch of money, like driving a Porsche at 200 miles an hour, to not only taking the foot off the gas, but just slamming the brakes on.”
Druckenmiller also gave a caveat for investors when it comes to his pessimistic outlook, saying that this is the most difficult time in history to make economic forecasts and that he has a history of a “bearish bias” that he has had to work around his whole career.
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