Stanley Druckenmiller & SEC Chair Gary Gensler 05/07/24

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 7 May 2024

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Duquesne Family Office CEO Stanley Druckenmiller says he was perplexed by the Fed’s pivot, and that the Federal Reserve “fumbled on the five yard line with the game on the line.” In an extended interview, Druckenmiller discusses his famously successful investing track record and his bets on AI. SEC Chair Gary Gensler has put pressure on crypto, recently delivering “Wells Notice” to Robinhood and Consensys; the crypto community is firing back, and he’s ready to defend the SEC’s perspective on Ethereum and its role in protecting investors. Plus, Hims & Hers CEO walked back some of his comments on hiring pro-Palestinian protesters after Wall Street and Main Street pushed back on him and his stock. Stanley Druckenmiller - 4:15 Gary Gensler - 38:40 In this episode: Gary Gensler, @GaryGensler Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C NBC producer Katie Kramer.
0:07.0	Today, I'm Squack Pod.
0:09.0	I don't think anyone will ever again get 30 years of 30% average.
0:13.6	You?
0:14.6	I don't know how I did it.
0:15.6	So.
0:16.6	Investor Stanley Druck and Miller, with one of the most successful track records around.
0:21.4	He says the Fed has reignited hot inflation.
0:24.7	Don't go on 60 minutes. You're not a rock star. Okay, you're the Fed chairman.
0:29.4	And while he might need a break from a big position in High Flyer,
0:33.4	he says AI's got legs.
0:35.8	If we were all sitting here in 1999 talking about the internet,
0:39.2	I don't think anybody would have estimated it would be as big as it got in 20 years.
0:44.8	AI could rhyme with the internet.
0:46.6	The big payoff might be four to five years from now.
0:50.8	And SEC Chair Gary Gensler putting pressure on the crypto community, which is firing right back at him, how he views his role for investors.
0:59.5	We have a really important responsibility as being a cop on the beat and ensuring that
1:05.2	people that are asking you to put your money and to buy or sell securities are
1:11.4	following the law so you get disclosures that you get
1:14.8	certain protections. Two big interviews plus the rough couple of days for the
1:20.0	CEO who said he wants to hire campus protesters.
	...

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