Stanley Druckenmiller, famous and renowned American investor, founder of Duquesne Capital in 1981, has made many mistakes as a businessman, but he still remembers one of his last moves, in which Nvidia was the main protagonist.
This is what Druckenmiller, whose fortune is estimated at $10 billion, admitted last Wednesday in an interview with Bloomberg Television: “I’ve made so many mistakes in my investing career… one of them was selling all my Nvidia shares probably around $800-$950. I think the current price is of $1,300,” he said.
Druckenmiller was referring to the price that prevailed before the stock split (divide) 10 to 1, which came into force on June 7, with the aim, among other things, of making them more affordable for investors.
The legendary investor and former hedge fund manager revealed that at the end of the second quarter he owned 214,060 shares of Nvidia, but currently owns none: “It was a big mistake. I’m still healing my wounds from this bad sale,” he declared. admits.
Druckenmiller hoped to hold the shares for several years, when they were worth just over $300, but he eventually sold them: “What changed was that they tripled in a year and I I thought the valuation was too high,” he said. .
Still, Druckenmiller hopes to turn things around. He continues to believe in AI in the long term, because for him “there are still many ways to invest, particularly thanks to the infrastructures that have been created to support the necessary power”. In addition, he assures that he will invest again in Nvidia. “Yes, I think it’s a really great company and if the price were to come down we would be in it again,” he said.
Nvidia, from recording to recording
The company is currently the second largest market capitalization, with a value of $3.4 trillion, very close to Apple ($3.5 trillion). This Thursday, in a remarkable show of confidence from the market, Nvidia stock hit an all-time high, reaching a price of $140.77.
The milestone reflects a period of significant growth for the tech giant, known for its powerful graphics processing units (GPUs) and growing presence in the areas of artificial intelligence and deep learning. Over the past year, Nvidia has seen its stock value skyrocket, with an impressive year-over-year change of 231.15%.
