Billionaire Investor Stanley Druckenmiller Just Slashed His Fund's Stake in Tesla by 50% and Quadrupled Its Position in Another AI Stock Up 2,800% Since Its IPO

There aren't too many investors with better track records than Stanley Druckenmiller. Over a 30-year period, which included 12 years working as a portfolio manager for George Soros at the Quant Fund, Druckenmiller generated average annual returns of 30%, according to Hedge Fund Alpha.Today, Druckenmiller is still investing his own money through his family's fund, Duquesne Capital Management. In the first quarter of the year, Druckenmiller slashed his position in the electric-car maker Tesla (NASDAQ: TSLA) by about 50% and more than quadrupled his stake in another artificial intelligence (AI) stock up 2,800% since its initial public offering (IPO).Filings from the Securities and Exchange Commission show that Duquesne lowered its stake in Tesla by about 50% and now holds about 18.8 million shares. Following President Donald Trump's election victory in November, shares of Tesla rocketed higher as investors believed the stock would benefit from CEO Elon Musk's close relationship to the president.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool