Famed hedge fund manager and Duquesne Family Office founder Stanley Druckenmiller admits he isn’t Berkshire Hathaway’s Oracle of Omaha, Warren Buffett.
The billionaire investor, who hasn’t lost in a single quarter throughout his 30-year career, said he made a “big mistake” selling Nvidia too early after initially thinking he was going to hold it for years. Druckenmiller spoke this week to Bloomberg’s Sonali Basak.
“I’ve made so many mistakes in my investment career; one of them was I sold all my Nvidia, probably somewhere between $800 and $950. I think it’s somewhere around $1,300 [per share] on that stock now,” said Druckenmiller on Wednesday.
Nvidia’s stock is trading at about $139.59 today, after undergoing a 10-for-1 stock split effective in June 2024 that made it more accessible to a broader range of investors, particularly those with smaller accounts. Duquesne built an impressive stake in the AI darling, now dominant in the GPU market. In 2022 Duquesne owned about $400 million in Nvidia stock, making it the office’s top holding. He began shaving it off in 2023. By August 2024, Druckenmiller had fully exited his position in Nvidia’s stock.
“I own none today,“ Druckenmiller confirmed to Bloomberg. “It was a big mistake.”
He initially expected to hold the stock for years, but then the value tripled in a year, and he thought the valuation was “rich.” Nvidia’s stock then skyrocketed in 2024, driven by soaring demand for its AI chips. Billionaire Oracle cofounder and chief technology officer Larry Ellison recently admitted that he treated Nvidia CEO Jensen Huang to dinner at Nobu, along with Elon Musk, to beg Huang to give them more GPUs.
“I would describe the dinner as Oracle—me and Elon begging Jensen for GPUs,” Ellison recalled. “Please take our money. Please take our money. By the way, I got dinner. No, no, take more of it. We need you to take more of our money please.”
Druckenmiller said he still has designs on AI, and it’s never say never on buying Nvidia in the future.
“Were the price to come down, we’d get involved again,” added Druckenmiller. “But right now, I’m licking my wounds from a bad sale there.”