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- The American billionaire Stanley Druckenmiller told CNBC that work-from-home stocks were pricey and that a pivot into some of the beaten-down value stocks would be reasonable.
- Druckenmiller advised investors against going short, as positive news on the COVID-19 vaccine front saw US stocks jump to record highs Monday.
- “It’s nuanced, but there are a lot of companies that will be direct beneficiaries (from a COVID-19 vaccine), and they probably have further to go,” Druckenmiller said. “I certainly wouldn’t want to be net short the market.”
- The billionaire expects inflation to rise in the next five to six years. He believes gold and Bitcoin are good hedges against inflationary pressure.
- Visit Business Insider’s homepage for more stories.
The billionaire investor Stanley Druckenmiller told CNBC on Monday that work-from-home stocks were overvalued and that a rotation into value stocks would be practical.
“You’ve had a bunch of