Sebelum ini kami ada kongsikan perihal beliau dalam artikel Daripada Gagal Menamatkan PhD Berubah Menjadi Hedgefund Superstar – Stanley Druckenmiller, beliau merupakan orang di sebalik tabir kejayaan fenomena “Broke the Bank of England” pada tahun 1992 dengan keuntungan $1 Billion dalam masa sehari,

Jom kita ambil manfaat pula daripada kata-kata hikmah dan pengajaran yang boleh kita ambil daripada perjalanan hidup beliau.

The Father of Focus Trading

Put all your eggs in one basket and watch the basket very carefully

Disebabkan beliau telah merentasi pelbagai aset kewangan dan pelbagai kelas kewangan dalam perdagangan dan pelaburan, beliau mendapat satu pembelajaran dengan menumpukan sepenuh perhatian kepada satu big set-up/entry position.

Seperti George Soros selaku mentor beliau, apa yang mereka bangunkan tidak pernah sama dengan pendekatan yang disarankan atau digunakan oleh orang lain.

Macam pelik pula kan? Sebab biasanya kita disaran untuk mempelbagaikan pelaburan kita. Sebab itulah kot beliau menjadi superstar dan lain daripada yang lain.

Top-Down Approach dan Macro Global Trader

Jika diperhalusi strategi yang beliau bangunkan, tiada siapa yang tahu. Namun berdasarkan daripada beberapa temubual, ramai yang merumuskan cara perdagangan dan pelaburan beliau sama seperti Top-Down Approach dan Macro Global Trader. 

Berdasarkan fakta, beliau lebih pakar dalam bon, mata wang dan Interest Rate, tetapi kurang cemerlang dalam dunia saham.

Pakar dalam Bear Market atau dalam bahasa lain pakar Short Seller

Kejayaan beliau paling banyak ketika situasi disequilibrium berlaku dalam dunia kewangan. Tatkala pasaran memasuki fasa Bear Market, sehinggakan beliau telah membantu George Soros bergelar ‘The Man Who Broke The Bank of England’ pada tahun 1992.

Super Trader dan Hedgefund Superstar

Beliau bergelar seorang Hedgefund Money Manager, iaitu sesuatu yang tidak pernah dilakukan oleh mana-mana individu. Beliau telah mengurus dana orang ramai bersama George Soros untuk tempoh masa 30 tahun dan secara konsisten menjana keuntungan.

Contrarian Thesis

Seperti mentornya George Soros, beliau juga membangunkan Contrarian Thesis-nya sendiri dalam pelaburan dan perdagangan yang beliau gunakan.

Ini bermakna, kita perlu takut apabila orang ramai semakin tamak, tetapi kita perlu tamak apabila orang ramai semakin takut.

Di antara kata-kata hikmah beliau:

• Soros has taught me that when you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig. It takes courage to ride a profit with huge leverage.

• If you’re early on in your career and they give you a choice between a great mentor or higher pay, take the mentor every time. It’s not even close. And don’t even think about leaving that mentor until your learning curve peaks.

• I believe that good investors are successful not because of their IQ, but because they have an investing discipline. But, what is more disciplined than a machine? A well-researched machine can make many average investors redundant, leaving behind only the really good human investors with exceptional intuition and skill.

• If you’re extremely confident, taking a loss doesn’t bother you.

• The first thing I heard when I got in the business – not from my mentor – was, ‘Bulls make money, bears make money, and pigs get slaughtered.’ I’m here to tell you I was a pig. And I strongly believe the only way to make long-term returns in our business that are superior is by being a pig.

• I like putting all my eggs in one basket and then watching the basket very carefully.

• For 30 years I’ve been responsible for managing client money, and it’s been a joy, but at some point I need to move on. Thirty years is enough.

• Soros is the best loss taker I’ve ever seen. He doesn’t care whether he wins or loses on a trade. If a trade doesn’t work, he’s confident enough about his ability to win on other trades that he can easily walk away from the position.

• I’ve always loved to play games, and face it: investing is one big game. You need to be decisive, open-minded, flexible and competitive.

• I don’t really like hedging. To me, if something needs to be hedged, you shouldn’t have a position in it.

• With my business, the way you make big money is you find a great management team and a good concept, and you stick to it, and you add to it over time. In philanthropy, there was more this idea that once an idea was formulated, you moved along.