News about Stanley Druckenmiller

American investor Stanley Druckenmiller, worth over $6 billion, said he pulled back on his investment in Nvidia in late March, despite the stock making a historic run over the last year or so. Nvidia stock is up over 91 percent this year.

A veteran technical analyst has cautioned that Wall Street has become too cosy over the possibility of a slowdown as he predicted the S&P 500 to lows not seen since the pandemic. Milton Berg, who has worked in financial services since 1978, said the demise of Silicon Valley Bank (SVB) earlier this year was "just the tip of the iceberg" and that other companies may fail. His remarks came after Goldman Sachs economists cut the chances of America seeing a recession in the next 12 months from 20 to 15 percent. The bank has 'confidence' in the Federal Reserve's decision to curb inflation by raising interest rates from near-zero to a 22-year high.