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Summary
- Stanley Druckenmiller, a popular hedge fund manager, believes AI stocks can be a great investment idea despite challenging macroeconomic challenges.
- Palantir, an AI company that Druckenmiller invested in since 2008-09, has potential for growth due to its implementation of Large Language Models and valuable customer database.
- Despite high valuations, AI stocks like Palantir may still have room for growth, especially if they prove resilient in terms of earnings and growth.
Investment Thesis
Stanley Druckenmiller, a popular hedge fund manager and founder of Duquesne Capital, notorious for posting gross annual returns of 30% in the 30 years he has been running the hedge fund, recently laid out his reasoning for why AI stocks can be a great investment idea. Remarkably, it may come as a surprise to many, given the challenging macroeconomic challenges he expects over the next 10 years, along with a prediction of a “hard landing” and stocks possibly heading for a lost decade.
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