Takeaway: Druckenmiller believes in having a multi-disciplinary approach to investing (e.g., fundamentals and technicals). A product like Toggle — which creates financial analytical tools for hedge funds and retail alike — is another useful tool for an investor to have in the toolkit.
Stanley Druckenmiller: When I started in the business, Fed watching was considered unique. I used Ned Davis [Research] and other technical services.
I felt I had a huge advantage over the general public.
Toggle is used to predict price moves but — even more interesting because of its mathematical capabilities — the tool can analyze thousands of securities.
I only have 16 hours a day and I’m not that fast of a reader.
So, if you had a tool like that back then, it would have been like my advantages times 5.
[When it comes to investing], I like a multi-disciplinary approach. My first boss taught me technical analysis. So, I use fundamental analysis and technical analysis. If there are 1000s of securities out there and my portfolio is only going to have 15-20, I’m never going to buy something that doesn’t have a great chart and fundamentals.
Toggle is just one more fantastic screening mechanism that gives me discipline. So, right now, I have a triple screen to buy, hold or sell a security. To the public who doesn’t have access to information that I have as an institutional investor, something like Toggle is value add. Maybe even more valuable than it is for me and I find it valuable.
Read the full interview: https://thehustle.co/stanley-druckenmiller-q-and-a-trung-phanin