Stan Druckenmiller '71 Addresses Students, Parents and Alums

While with us today, Mr. Druckenmiller observed a discussion of national budget allocations in Rob Wedge’s AP economics class and spoke at Upper School assembly. He then attended a luncheon downtown, where he shared his personal story and answered questions about economic issues of the day with more than 300 guests, followed by a tour of Robins Campus and a reception with our Board of Trustees.

Mr. Druckenmiller came to Collegiate for Upper School and, after his family moved to North Carolina in his junior year, four Collegiate families, to whom he remains grateful, hosted him through his senior year. After graduation, he attended Bowdoin College in Maine where he double majored in economics and English and then took his first job in Pittsburgh at Pittsburgh National Bank. From there he moved on and up on the financial world, opening his own firm, Duquesne Capital Management, and working with Dreyfus and George Soros’ Quantum Fund. In 2009, Mr. Druckenmiller was the most charitable man in America, and, in 2010, he closed his hedge fund and retired.

Speaking to Upper School students, Mr. Druckenmiller talked of the personal privilege of being able to help “move the needle” on important issues through his philanthropic involvement with the Harlem Children’s Zone, the Environmental Defense Fund and cancer research at Sloan Kettering where he has been heartened to see the advances toward a cure for cancer. He has also contributed to the Neuroscience Institute at NYU School of Medicine where brain research could lead to advances in treatment for autism and Alzheimer’s disease.

When asked about skills and talents that he looks for when hiring, he cited a passion for the field of finance. “If you’re just in it for the money, you’re going to get run over,” he said. He mentioned that, contrary to the opinions of many, he finds Millennials his favorite generation in his 30 years of work and is impressed with their energy. He looks at the level of rigor potential employees have taken on as an indicator of of their future job performance and said that a liberal arts education is good preparation. "You can change your mind six times by the time you're 30 years old and still end up with a very happy, successful life."

While he does not share details regarding specific companies, Mr. Druckenmiller advised that investors try to envision the performance of a company down the road. It’s too late to invest in stocks doing well today and expect to see a big profit; the key is to identify the future potential.

Of major concern, Mr. Druckenmiller said, is the demographic composition of the United States, and the impending drain on social security and other benefits. There are not enough young workers to sustain the funds that are about to be drained by baby boomers. His advice to our young audience: save.