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Excerpt from an article on Bloomberg about his comments:
Stan Druckenmiller, who boasts one of the hedge-fund industry’s best long-term track records of the past three decades, said he’s betting against the shares of International Business Machines Corp. (IBM) because the company’s business will be replaced by technology such as cloud computing.
“It’s one of the more higher-probability shorts I have seen in years,” Druckenmiller, 60, said in an interview with Bloomberg TV’s Stephanie Ruhle at the Robin Hood Investors Conference in New York today. “IBM is old technology being replaced by cloud technology.”
Related link: Warren Buffett IBM Case Study