The way to build long-term returns is through preservation of capital and home runs.

Investors
Stanley Druckenmiller
Born in 1953 in Pittsburgh, Stanley Druckenmiller founded Duquesne Capital in 1981 and served as lead portfolio manager for George Soros's Quantum Fund from 1988 to 2000. He was the architect of the 1992 pound-crisis trade that forced the Bank of England out of the ERM. Widely reported to have never posted an annual loss in thirty years, he is among the most consistently successful macro investors in history.
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Stanley Druckenmiller's Other Quotes
I've learned many things from George Soros, but perhaps the most significant is that it's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.
I think the stock market is going to be the key barometer for monetary policy going forward, and I think earnings are going to be the key.
Soros has taught me that when you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig.
Related Quotes
Our time horizon is five years. We are not focused on the next quarter.
-- Cathie Wood
Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.
-- Peter Lynch
The key to making money in stocks is not to get scared out of them.
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The single greatest edge an investor can have is a long-term orientation.
-- Seth Klarman
We invest in a small number of large-cap companies where we have a high degree of conviction.
-- Bill Ackman
Have patience. Stocks don't go up immediately.
-- Walter Schloss