Duquesne Capital manager Stanley Druckenmiller, who took his first steps as a money manager at the famous Quantum Fund founded by George Soros at a Bloomberg conference, admitted that he could hold Nvidia shares for years - despite its cosmic valuation. He also pointed out that 'artificial intelligence' and 'cryptocurrencies' are real, which could be a signal that the investment industry is taking the business opportunities that come from the further development of AI and crypto among companies very seriously.
On the other hand, however, Druckenmiller believes that the current situation in the broad market is 'challenging'. All of this is set to translate into serious problems for the US economy. The famous investor predicts that companies could see their profits fall by as much as 20-30%, real estate prices are set to fall sharply and bankruptcies are set to rise.
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The shares of Nvidia (NVDA.US) are losing 0.54% during today's session despite positive comments from Stanley Druckenmiller. At the moment, NVDA is testing the support set by the local lows and the EMA 50 (blue curve). H1 interval. Source: xStation 5
