Does Stanley Druckenmiller Know Something David Tepper Doesn't? The Billionaire Investor is Avoiding the China Rally and Investing in Another Foreign Market Instead.

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Does Stanley Druckenmiller Know Something David Tepper Doesn't? The Billionaire Investor is Avoiding the China Rally and Investing in Another Foreign Market Instead.

Motley Fool10-26

After initial stimulus announcements in China, David Tepper told people to buy "everything" in China. Stanley Druckenmiller said he has no interest in investing in the country as long as ...

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Harrychuang
·10-28 08:40
I saw Stanley Druckenmiller's interview and he made sweeping statement about China. Take note China's economic achievement over the past 30/40 years are Chinese made, current situation are Chinese made and getting out of it to continue economic success will be Chinese make. Recently an assessment by an independent western institution found that China lead in 57 out of the 64 critical technology in the world. Of course this and many other achievements are not reflected in the market, partly due to the US$1.6 billion spent by US in bad mouthing and creating false narrative about China. Time will prove all these lies and America will be poorer for it.
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- gogoooCn:
  Well said. Long China!
  10-29 17:06
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The Billionaire Investor is Avoiding the China Rally and Investing in Another Foreign Market Instead.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-26 23:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/10/26/does-stanley-druckenmiller-know-something-david-te/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After initial stimulus announcements in China, David Tepper told people to buy \"everything\" in China.\n\n\n\n\n\n\n\nStanley Druckenmiller said he has no interest in investing in the country as long as ...</p>\n\n<a href=\"https://www.fool.com/investing/2024/10/26/does-stanley-druckenmiller-know-something-david-te/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1105468828.SGD","symbol_name":"Allianz Total Return Asian Equity AM DIS H2-SGD","start_time":0,"source_url":"https://www.fool.com/investing/2024/10/26/does-stanley-druckenmiller-know-something-david-te/","article_id":"2478753619","we_media_id":null,"thumbnails":["https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F794277%2Fperson-computer-7.jpg&op=resize&w=165&h=104"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2478753619","pubTimestamp":1729957620,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"Stanley Druckenmiller and David Tepper are arguably two of the best investors of all time. 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Tepper and his fund, Appaloosa Management, generated a compound annual growth rate of 25%. It's hard to believe that two investors as successful as Druckenmiller and Tepper could have such different views of the market, but that's why we have a market.Several weeks ago, right after China's central bank announced the country's initial stimulus measures, Tepper went on CNBC and told investors to buy \"everything\" in China. His largest position is the Chinese e-commerce giant Alibaba. However, Druckenmiller at a recent conference reportedly said he's staying away from China and investing in a different foreign market instead. Does Druckenmiller know something Tepper doesn't?Trying to understand the Chinese governmentChinese stocks are so volatile because the government plays a big role in how they perform, and it's not always easy to predict the government's next move.In 2021, regulators fined Alibaba a record $2.8 billion for violating antitrust regulations. They also pushed management to get a tighter grip on some of the company's businesses, which analysts believe hurt Alibaba's valuation. Regulators also shut down a planned $37 billion initial public offering by Ant Group. China is not the first country to push antitrust violations and try to rein in large companies. However, those moves discouraged foreign investors who had previously been considering getting more involved in Chinese markets.Still, Tepper viewed recent stimulus in September, and a surprise Politburo meeting right after, as a green light that the government would do what's necessary to help China's ailing economy rebound. Heading into the stimulus announcement, Tepper predicated part of his thesis on the idea that large Chinese companies were generating double-digit growth and trading at single-digit price-to-earnings ratios. He equated the new stimulus to when the Federal Reserve began quantitative easing after the Great Recession. China's CSI 300 Index, which tracks the performance of the top 300 stocks on the Shanghai Stock Exchange and the Shenzhen Stock Exchange, is up 18.5% over the past month.But Druckenmiller said he's not interested in buying the China rally as long as President Xi Jinping leads the country. Druckenmiller has his eyes set on other parts of the world.Japan and ArgentinaDruckenmiller said he \"loves\" Japan and views Argentina as a \"great investment opportunity\" with a \"brilliant leader.\" Japan has garnered plenty of interest in recent years. Berkshire Hathaway in 2020 took a significant stake in each of the country's five largest trading houses.Argentina is in a recession  and is dealing with very high inflation, which is not abnormal for the country. Many investors view South America as a big opportunity. The libertarian Javier Gerardo Milei became president of Argentina in December 2023 with plans to radically cut spending and bring down inflation. It's unclear how successful Milei will be, but with Druckenmiller concerned about irresponsible government spending in the U.S., he likely is drawn to a leader focused on austerity.In Duquesne's latest 13F filing, I didn't see any Japanese holdings. However, Druckenmiller owns four stocks that are based in or do a lot of business in Argentina: the e-commerce online platform MercadoLibre; Argentina's second-largest bank, Banco Macro; the country's fifth-largest bank, Grupo Financiero Galicia; and the energy company YPF. Druckenmiller has hit big on these investments this year.MELI data by YCharts.Does Druckenmiller know something Tepper doesn't?Both Tepper and Druckenmiller are incredibly smart, but take different approaches. Regardless of which country you invest in, understand that government and policy in foreign markets can be much more impactful to stocks than in the U.S. So that needs to be a big focus of your research if you invest in individual names in foreign markets.Still, investing in companies in countries like China or Argentina presents massive growth potential at more affordable valuations because these markets are less developed than the U.S., and there is more uncertainty around regulation and government intervention.Investing in foreign stocks requires a long runway and tolerance for volatility. An easier approach would be to buy an exchange-traded fund that holds a basket of Argentinian or Chinese stocks.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":364813555671072,"gmtCreate":1730076049644,"gmtModify":1730192770768,"author":{"id":"4165402247123562","authorId":"4165402247123562","name":"Harrychuang","avatar":"https://community-static.tradeup.com/news/e5d6f8624454b0df93f3602c9f7517ef","vip":1,"crmLevel":8,"crmLevelSwitch":1,"authorIdStr":"4165402247123562","idStr":"4165402247123562"},"htmlText":"I saw Stanley Druckenmiller's interview and he made sweeping statement about China. &nbsp;Take note China's economic achievement over the past 30/40 years are Chinese made, current situation are Chinese made and getting out of it to continue economic success will be Chinese make. &nbsp;Recently an assessment by an independent western institution found that China lead in 57 out of the 64 critical technology in the world. Of course this and many other achievements are not reflected in the market, partly due to the US$1.6 billion spent by US in bad mouthing and creating false narrative about China. &nbsp;Time will prove all these lies and America will be poorer for it.","listText":"I saw Stanley Druckenmiller's interview and he made sweeping statement about China. &nbsp;Take note China's economic achievement over the past 30/40 years are Chinese made, current situation are Chinese made and getting out of it to continue economic success will be Chinese make. &nbsp;Recently an assessment by an independent western institution found that China lead in 57 out of the 64 critical technology in the world. Of course this and many other achievements are not reflected in the market, partly due to the US$1.6 billion spent by US in bad mouthing and creating false narrative about China. &nbsp;Time will prove all these lies and America will be poorer for it.","text":"I saw Stanley Druckenmiller's interview and he made sweeping statement about China. Take note China's economic achievement over the past 30/40 years are Chinese made, current situation are Chinese made and getting out of it to continue economic success will be Chinese make. Recently an assessment by an independent western institution found that China lead in 57 out of the 64 critical technology in the world. Of course this and many other achievements are not reflected in the market, partly due to the US$1.6 billion spent by US in bad mouthing and creating false narrative about China. Time will prove all these lies and America will be poorer for it.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":1,"repostSize":1,"link":"https://ttm.financial/post/364813555671072","repostId":2478753619,"repostType":2,"repost":{"id":"2478753619","pubTimestamp":1729957620,"share":"https://ttm.financial/m/news/2478753619?lang=&edition=fundamental","pubTime":"2024-10-26 23:47","market":"fut","language":"en","title":"Does Stanley Druckenmiller Know Something David Tepper Doesn't? The Billionaire Investor is Avoiding the China Rally and Investing in Another Foreign Market Instead.","url":"https://stock-news.laohu8.com/highlight/detail?id=2478753619","media":"Motley Fool","summary":"Stanley Druckenmiller and David Tepper are arguably two of the best investors of all time. Yet, the two have different viewpoints when it comes to China.","content":"<html><body><ul>\n<li>\n<div>\n<svg fill=\"none\" height=\"15\" viewbox=\"0 0 14 15\" width=\"14\" xmlns=\"http://www.w3.org/2000/svg\">\n<path d=\"M14 5.58984C14 2.91016 11.8398 0.75 9.16016 0.75C6.50781 0.777344 4.375 2.91016 4.375 5.5625C4.375 6.10938 4.45703 6.60156 4.59375 7.09375L0.191406 11.4961C0.0546875 11.6328 0 11.7969 0 11.9609V14.0938C0 14.4766 0.273438 14.75 0.65625 14.75H3.71875C4.07422 14.75 4.375 14.4766 4.375 14.0938V13H5.46875C5.82422 13 6.125 12.7266 6.125 12.3438V11.25H7.13672C7.30078 11.25 7.51953 11.168 7.62891 11.0312L8.28516 10.293C8.55859 10.3477 8.85938 10.375 9.1875 10.375C11.8398 10.375 14 8.24219 14 5.58984ZM9.1875 4.25C9.1875 3.53906 9.76172 2.9375 10.5 2.9375C11.2109 2.9375 11.8125 3.53906 11.8125 4.25C11.8125 4.98828 11.2109 5.5625 10.5 5.5625C9.76172 5.5625 9.1875 4.98828 9.1875 4.25Z\" fill=\"#FFB81C\"></path>\n</svg>\n</div>\n<div>After initial stimulus announcements in China, David Tepper told people to buy \"everything\" in China.</div>\n</li>\n<li>\n<div>\n<svg fill=\"none\" height=\"15\" viewbox=\"0 0 14 15\" width=\"14\" xmlns=\"http://www.w3.org/2000/svg\">\n<path d=\"M14 5.58984C14 2.91016 11.8398 0.75 9.16016 0.75C6.50781 0.777344 4.375 2.91016 4.375 5.5625C4.375 6.10938 4.45703 6.60156 4.59375 7.09375L0.191406 11.4961C0.0546875 11.6328 0 11.7969 0 11.9609V14.0938C0 14.4766 0.273438 14.75 0.65625 14.75H3.71875C4.07422 14.75 4.375 14.4766 4.375 14.0938V13H5.46875C5.82422 13 6.125 12.7266 6.125 12.3438V11.25H7.13672C7.30078 11.25 7.51953 11.168 7.62891 11.0312L8.28516 10.293C8.55859 10.3477 8.85938 10.375 9.1875 10.375C11.8398 10.375 14 8.24219 14 5.58984ZM9.1875 4.25C9.1875 3.53906 9.76172 2.9375 10.5 2.9375C11.2109 2.9375 11.8125 3.53906 11.8125 4.25C11.8125 4.98828 11.2109 5.5625 10.5 5.5625C9.76172 5.5625 9.1875 4.98828 9.1875 4.25Z\" fill=\"#FFB81C\"></path>\n</svg>\n</div>\n<div>Stanley Druckenmiller said he has no interest in investing in the country as long as President Xi Jinping is in power.</div>\n</li>\n<li>\n<div>\n<svg fill=\"none\" height=\"15\" viewbox=\"0 0 14 15\" width=\"14\" xmlns=\"http://www.w3.org/2000/svg\">\n<path d=\"M14 5.58984C14 2.91016 11.8398 0.75 9.16016 0.75C6.50781 0.777344 4.375 2.91016 4.375 5.5625C4.375 6.10938 4.45703 6.60156 4.59375 7.09375L0.191406 11.4961C0.0546875 11.6328 0 11.7969 0 11.9609V14.0938C0 14.4766 0.273438 14.75 0.65625 14.75H3.71875C4.07422 14.75 4.375 14.4766 4.375 14.0938V13H5.46875C5.82422 13 6.125 12.7266 6.125 12.3438V11.25H7.13672C7.30078 11.25 7.51953 11.168 7.62891 11.0312L8.28516 10.293C8.55859 10.3477 8.85938 10.375 9.1875 10.375C11.8398 10.375 14 8.24219 14 5.58984ZM9.1875 4.25C9.1875 3.53906 9.76172 2.9375 10.5 2.9375C11.2109 2.9375 11.8125 3.53906 11.8125 4.25C11.8125 4.98828 11.2109 5.5625 10.5 5.5625C9.76172 5.5625 9.1875 4.98828 9.1875 4.25Z\" fill=\"#FFB81C\"></path>\n</svg>\n</div>\n<div>Instead, Druckenmiller holds stock in several companies in a different foreign country.</div>\n</li>\n</ul><div><p>There may not be two investors with more successful careers than billionaires Stanley Druckenmiller and David Tepper.</p><p>Druckenmiller, through his fund, Duquesne Capital, generated average annual returns of 30%. Tepper and his fund, Appaloosa Management, generated a compound annual growth rate of 25%. It's hard to believe that two investors as successful as Druckenmiller and Tepper could have such different views of the market, but that's why we have a market.</p><p>Several weeks ago, right after China's central bank announced the country's initial stimulus measures, Tepper went on CNBC and told investors to buy \"everything\" in China. His largest position is the Chinese e-commerce giant <strong>Alibaba</strong>. However, Druckenmiller at a recent conference reportedly said he's staying away from China and investing in a different foreign market instead. Does Druckenmiller know something Tepper doesn't?</p><h2>Trying to understand the Chinese government</h2><p>Chinese stocks are so volatile because the government plays a big role in how they perform, and it's not always easy to predict the government's next move.</p><p>In 2021, regulators fined Alibaba a record $2.8 billion for violating antitrust regulations. They also pushed management to get a tighter grip on some of the company's businesses, which analysts believe hurt Alibaba's valuation. Regulators also shut down a planned $37 billion initial public offering by Ant Group. China is not the first country to push antitrust violations and try to rein in large companies. However, those moves discouraged foreign investors who had previously been considering getting more involved in Chinese markets.</p><div><div><div></div></div></div><div><app :collapse_on_load=\"false\" :instrument_id=\"317247\" :show_benchmark_compare=\"false\" amount_change=\"1.06\" average_volume=\"19,717,471\" company_name=\"Alibaba Group\" current_price=\"97.42\" daily_high=\"98.90\" daily_low=\"97.05\" default_period=\"YTD\" dividend_yield=\"2.04%\" exchange=\"NYSE\" fifty_two_week_high=\"117.82\" fifty_two_week_low=\"66.07\" gross_margin=\"35.70\" logo=\"https://g.foolcdn.com/art/companylogos/mark/BABA.png\" market_cap=\"$233B\" pe_ratio=\"25.18\" percent_change=\"1.10\" symbol=\"BABA\" volume=\"16,977,095\"></app></div><p>Still, Tepper viewed recent stimulus in September, and a surprise Politburo meeting right after, as a green light that the government would do what's necessary to help China's ailing economy rebound. Heading into the stimulus announcement, Tepper predicated part of his thesis on the idea that large Chinese companies were generating double-digit growth and trading at single-digit price-to-earnings ratios. He equated the new stimulus to when the Federal Reserve began quantitative easing after the Great Recession. China's CSI 300 Index, which tracks the performance of the top 300 stocks on the Shanghai Stock Exchange and the Shenzhen Stock Exchange, is up 18.5% over the past month.</p><p>But Druckenmiller said he's not interested in buying the China rally as long as President Xi Jinping leads the country. Druckenmiller has his eyes set on other parts of the world.</p><h2>Japan and Argentina</h2><p>Druckenmiller said he \"loves\" Japan and views Argentina as a \"great investment opportunity\" with a \"brilliant leader.\" Japan has garnered plenty of interest in recent years. <strong>Berkshire Hathaway</strong> in 2020 took a significant stake in each of the country's five largest trading houses.</p><p>Argentina is in a recession  and is dealing with very high inflation, which is not abnormal for the country. Many investors view South America as a big opportunity. The libertarian Javier Gerardo Milei became president of Argentina in December 2023 with plans to radically cut spending and bring down inflation. It's unclear how successful Milei will be, but with Druckenmiller concerned about irresponsible government spending in the U.S., he likely is drawn to a leader focused on austerity.</p><div><div><div></div></div></div><p>In Duquesne's latest 13F filing, I didn't see any Japanese holdings. However, Druckenmiller owns four stocks that are based in or do a lot of business in Argentina: the e-commerce online platform <strong><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></strong>; Argentina's second-largest bank, <strong>Banco Macro</strong>; the country's fifth-largest bank, <strong>Grupo Financiero Galicia</strong>; and the energy company <strong>YPF</strong>. Druckenmiller has hit big on these investments this year.</p><p><img src=\"https://media.ycharts.com/charts/3e8ac725e68d273d99c36691d679d33b.png\"/>MELI data by YCharts.</p><h2>Does Druckenmiller know something Tepper doesn't?</h2><p>Both Tepper and Druckenmiller are incredibly smart, but take different approaches. Regardless of which country you invest in, understand that government and policy in foreign markets can be much more impactful to stocks than in the U.S. So that needs to be a big focus of your research if you invest in individual names in foreign markets.</p><p>Still, investing in companies in countries like China or Argentina presents massive growth potential at more affordable valuations because these markets are less developed than the U.S., and there is more uncertainty around regulation and government intervention.</p><p>Investing in foreign stocks requires a long runway and tolerance for volatility. An easier approach would be to buy an exchange-traded fund that holds a basket of Argentinian or Chinese stocks.</p><div><div><div></div></div></div><div></div></div></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Does Stanley Druckenmiller Know Something David Tepper Doesn't? The Billionaire Investor is Avoiding the China Rally and Investing in Another Foreign Market Instead.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDoes Stanley Druckenmiller Know Something David Tepper Doesn't? The Billionaire Investor is Avoiding the China Rally and Investing in Another Foreign Market Instead.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-26 23:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/10/26/does-stanley-druckenmiller-know-something-david-te/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After initial stimulus announcements in China, David Tepper told people to buy \"everything\" in China.\n\n\n\n\n\n\n\nStanley Druckenmiller said he has no interest in investing in the country as long as ...</p>\n\n<a href=\"https://www.fool.com/investing/2024/10/26/does-stanley-druckenmiller-know-something-david-te/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F794277%2Fperson-computer-7.jpg&op=resize&w=165&h=104","relate_stocks":{"LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","09988":"阿里巴巴-W","BK4527":"明星科技股","BK4535":"淡马锡持仓","LU0918141705.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AM\" (HKD) INC","BK4538":"云计算","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","BK4526":"热门中概股","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","LU0821914370.USD":"贝莱德亚洲成长领袖A2","BK4503":"景林资产持仓","BK4122":"互联网与直销零售","LU1688375341.USD":"贝莱德中国灵活股票基金","LU0797268264.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (HKD) ACC","LU1008478684.HKD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (HKD) ACC","LU1152091168.USD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" INC","LU1046421795.USD":"富达环球科技A-ACC","BK4502":"阿里概念","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","BK4505":"高瓴资本持仓","BK4575":"芯片概念","BK4585":"ETF&股票定投概念","BK4504":"桥水持仓","BK4587":"ChatGPT概念","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","BK4548":"巴美列捷福持仓","IE00BFMHRM44.USD":"NEUBERGER BERMAN GLOBAL EQUITY MEGATRENDS \"A\" (USD) ACC","BK4565":"NFT概念","LU1046422090.SGD":"Fidelity Pacific A-SGD","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","BABA":"阿里巴巴","LU0918141887.USD":"安联亚洲实际收益股票基金","BK4581":"高盛持仓","BK4554":"元宇宙及AR概念","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","BK4531":"中概回港概念","LU1282648689.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AMG\" (USD) INC","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4524":"宅经济概念","BRK.B":"伯克希尔B","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","BK4558":"双十一","BK4579":"人工智能","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","BK4220":"综合零售"},"source_url":"https://www.fool.com/investing/2024/10/26/does-stanley-druckenmiller-know-something-david-te/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2478753619","content_text":"After initial stimulus announcements in China, David Tepper told people to buy \"everything\" in China.\n\n\n\n\n\n\n\nStanley Druckenmiller said he has no interest in investing in the country as long as President Xi Jinping is in power.\n\n\n\n\n\n\n\nInstead, Druckenmiller holds stock in several companies in a different foreign country.\n\nThere may not be two investors with more successful careers than billionaires Stanley Druckenmiller and David Tepper.Druckenmiller, through his fund, Duquesne Capital, generated average annual returns of 30%. Tepper and his fund, Appaloosa Management, generated a compound annual growth rate of 25%. It's hard to believe that two investors as successful as Druckenmiller and Tepper could have such different views of the market, but that's why we have a market.Several weeks ago, right after China's central bank announced the country's initial stimulus measures, Tepper went on CNBC and told investors to buy \"everything\" in China. His largest position is the Chinese e-commerce giant Alibaba. However, Druckenmiller at a recent conference reportedly said he's staying away from China and investing in a different foreign market instead. Does Druckenmiller know something Tepper doesn't?Trying to understand the Chinese governmentChinese stocks are so volatile because the government plays a big role in how they perform, and it's not always easy to predict the government's next move.In 2021, regulators fined Alibaba a record $2.8 billion for violating antitrust regulations. They also pushed management to get a tighter grip on some of the company's businesses, which analysts believe hurt Alibaba's valuation. Regulators also shut down a planned $37 billion initial public offering by Ant Group. China is not the first country to push antitrust violations and try to rein in large companies. However, those moves discouraged foreign investors who had previously been considering getting more involved in Chinese markets.Still, Tepper viewed recent stimulus in September, and a surprise Politburo meeting right after, as a green light that the government would do what's necessary to help China's ailing economy rebound. Heading into the stimulus announcement, Tepper predicated part of his thesis on the idea that large Chinese companies were generating double-digit growth and trading at single-digit price-to-earnings ratios. He equated the new stimulus to when the Federal Reserve began quantitative easing after the Great Recession. China's CSI 300 Index, which tracks the performance of the top 300 stocks on the Shanghai Stock Exchange and the Shenzhen Stock Exchange, is up 18.5% over the past month.But Druckenmiller said he's not interested in buying the China rally as long as President Xi Jinping leads the country. Druckenmiller has his eyes set on other parts of the world.Japan and ArgentinaDruckenmiller said he \"loves\" Japan and views Argentina as a \"great investment opportunity\" with a \"brilliant leader.\" Japan has garnered plenty of interest in recent years. Berkshire Hathaway in 2020 took a significant stake in each of the country's five largest trading houses.Argentina is in a recession  and is dealing with very high inflation, which is not abnormal for the country. Many investors view South America as a big opportunity. The libertarian Javier Gerardo Milei became president of Argentina in December 2023 with plans to radically cut spending and bring down inflation. It's unclear how successful Milei will be, but with Druckenmiller concerned about irresponsible government spending in the U.S., he likely is drawn to a leader focused on austerity.In Duquesne's latest 13F filing, I didn't see any Japanese holdings. However, Druckenmiller owns four stocks that are based in or do a lot of business in Argentina: the e-commerce online platform MercadoLibre; Argentina's second-largest bank, Banco Macro; the country's fifth-largest bank, Grupo Financiero Galicia; and the energy company YPF. Druckenmiller has hit big on these investments this year.MELI data by YCharts.Does Druckenmiller know something Tepper doesn't?Both Tepper and Druckenmiller are incredibly smart, but take different approaches. Regardless of which country you invest in, understand that government and policy in foreign markets can be much more impactful to stocks than in the U.S. So that needs to be a big focus of your research if you invest in individual names in foreign markets.Still, investing in companies in countries like China or Argentina presents massive growth potential at more affordable valuations because these markets are less developed than the U.S., and there is more uncertainty around regulation and government intervention.Investing in foreign stocks requires a long runway and tolerance for volatility. An easier approach would be to buy an exchange-traded fund that holds a basket of Argentinian or Chinese stocks.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":365227616891176,"gmtCreate":1730192792399,"gmtModify":1730192797310,"authorId":10000000000010976,"author":{"id":10000000000010976,"idStr":"10000000000010975","authorId":10000000000010976,"name":"gogoooCn","avatar":"https://static.tigerbbs.com/b17af8d14081700b793911bb75de6b67","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":364813555671072,"type":1,"supId":0,"prevId":0,"content":"<p>Well said. Long China!</p>","text":"<p>Well said. Long China!</p>","html":"<p>Well said. Long China!</p>"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}