Stanley Druckenmiller: market liquidity won’t last.

Liquidity may be very strong now, but that’s only because the Federal Reserve has bought trillions of dollars  in assets. One day, that will stop.

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(Image credit: Trader at the New York Stock Exchange © Shutterstock)

Stanley Druckenmiller, chief executive, Duquesne Family Office

“The risk-reward for equities is maybe as bad as I’ve seen it in my career,” reckons Stanley Druckenmiller, the former hedge-fund manager who made $1bn when he and George Soros bet that Britain would be forced to take sterling out of the European Exchange Rate Mechanism on Black Wednesday (16 September 1992). Investors banking on abundant liquidity are set for a shock.

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