Stanley Druckenmiller talks about Nvidia and how he "invests then investigates". Couldn’t “spell Nvidia” or didn’t know earnings but jumped in and made 6x in 2 years ($1B+ profit before exiting in 2024). How it went down: ▫️ Early 2022, started seeing Stanford students switch from crypto to AI projects. ▫️His "superstar" analysts brought this to his attention and he asked around Silicon Valley network about AI.  ▫️Wanted to make an AI investment and his partner said Nvidia (Druck bought "enough to get hurt or make some money"…forced him to keep track). ▫️ChatGPT launches two weeks later...immediately realizes "enormity" of opportunity and Druck doubles the position. ▫️Listens to a Morgan Stanely macro analyst call and they mention AI bigger than any macro trend...Druck (after experiencing ChatGPT) doubles the position again. He’s fully bought into AI as a “massive massive change”. Pattern recognizing on previous major tech changes in his career, he knows Nvidia will keep running for at least 2-3 years as the rest of market catches up and re-rates. He holds even as his tech-expert investor network sells Nvidia. Expects to hold long-term but sells it all in 2024 at $800 a share (he got in $100-$150). Nvidia quickly runs to $1,400 and he “felt sick”. Says his biggest mistakes are always “selling too soon”, but that’s just part of game of investing for him. “My advantage is not IQ, it’s trigger pulling,” he says.

“My advantage is not IQ, it’s trigger pulling.” What a legend…Great chat:

full chat here: