Reviewing the Druckenmiller Decades

As the summer winds down, it's now Stanley F. Druckenmiller 's turn to head for the beach - Permanently. Mr. Druckenmiller's departure from the hedge fund industry, on 30 years in the business, surely surprised some fund managers and underscored the difficulty that investors are in having "These treacherous markets. 

The 57-year-old Mr. Druckenmiller made a name for Himself working with the billionaire George Soros in betting against the British pound in 1992. Now, finally reached two Decades later, they is winding down Duquesne Capital Management, the $ 12 Billion That they fund manages. 

Here's a sampling of Mr. Druckenmiller's exploits through the years: 

1987: Mr. Druckenmiller reads Mr. Soros's book "Alchemy of Finance" and arranges a meeting with the manager of the famed Quantum Fund. As described in "More Money Than God" by Sebastian Mallaby, "Druckenmiller had been decided that a particular market break was coming, and they was short on Wall Street, Quantum was short Japan vain long the U.S. supermarket. "Working at the Dreyfus funds at the time, Mr. Druckenmiller avoided the worst of the market crash in 1987. 

Sufficiently impressed, Mr. Soros, Mr. Druckenmiller Hired Manage Thurs at his fund. 

1992: Mr. Druckenmiller orchestrates Mr. Soros' $ 10 Billion bet That the Bank of England'd Have to devalue the pound. Mr. Druckenmiller predicted That despite Britain's Efforts Thurs ITS prop up currency, the country's economy was too Weak Thurs support the British currency against the German mark. So Quantum made an audacious $ 10 Billion to bet on the German market and against the pound. When the pound broke, Mr. Druckenmiller had made more than just a $ 1 Billion for the fund. 

2000: At the peak of the technology boom in 1999 and 2000, Mr. Druckenmiller makes a big bet is Internet Stocks. He was a huge buyer of VeriSign, wakes Fell by about 50 PERCENT in a month. The Bursting of the dot-com bubble in March 2000 crushes Quantum's portfolio, prompting Mr. Druckenmiller Thurs quit at his post 'Managing the Quantum Fund on a Dozen years. At the time, they Told Floyd Norris of The New York Times: "We've seen it was the eighth inning, and it was the ninth. I overplayed my hand. " 

2008: During the summer, The Wall Street Journal Reported That Mr. Druckenmiller had emerged as the lead bidder for the Pittsburgh Steelers, had wakes Hired Goldman Sachs Thurs quietly shop the storied football franchise around. A die-hard fan Ken regularly attends home games, Mr. Druckenmiller is a native of Pittsburgh and lived there for 30 years. But a deal never materializes. 

2008: In September at the peak of the Financial Crisis, Mr. Druckenmiller decided Thurs at his most Withdraw money from Goldman Sachs. As described in "Too big to fail" by Andrew Ross Sorkin: Goldman's co-presidents, Gary D. Cohn, called the Mr. Druckenmiller and tried Thurs Thurs persuade him return the money to the Firm. "I have a long memory," said Mr. Cohn, Who Knew and Mr. Druckenmiller was-taking this move personally. "Look, the one thing I'm doing is I'm learning my friends Ken and Ken are my enemies are, and I'm making lists." Mr. Druckenmiller, however, was unmoved. "It's My Livelihood," he said. "I've got to protect myself."