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Saturday, June 12, 2010
Weekend Quote from a Book - Trade Conviction
Soros dropped in on him (Stanley Druckenmiller, money manager who worked with Soros at the Quantum fund) in his office and discussed the trade.

'How big a position do you have?' he asked.

'One billion dollars' Druckenmiller answered.

'You call that a position?' Soros asked derisively. . .

Soros suggested that Druckenmiller double his position. He did. And just as Soros had predicted, even more profits poured into Quantum.

'Soros has taught me,' noted Druckenmiller, 'that when you have tremendous conviction on a trade, you have to go for the jugular.

- Source: Soros: The Life, Ideas, and Impact of the World's Most Influential Investor

by Robert Slater

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posted by Little Rishi @ Saturday, June 12, 2010  
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