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Hedge Fund News: Stanley Druckenmiller, Bill Ackman, Nelson Peltz

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Druckenmiller Making ‘Large Bet On Economic Growth’ On Trump Win, Sells Gold (CNBC)
Billionaire investor Stanley Druckenmiller shared his views on the election and the market in an exclusive interview Thursday with CNBC’s “Squawk Box.” On the election: “I’m very hopeful and optimistic on what it means. … The fears of protectionism, while valid, are greatly oversized relative to the benefits to the other parts of the economy [from deregulation and tax reform],” he said. He added, “This economy is so over regulated and people are just drowning in red tape, that the removal of that, and I’m expecting serious tax reform, cuts to the corporate tax rate. … So I’m quite, quite optimistic on the economy.”

DUQUESNE CAPITAL

Activist Ackman Calls Chipotle Relationship ‘Extremely Constructive’ (Reuters)
Billionaire investor William Ackman on Thursday said he has had an “extremely constructive relationship” with Chipotle Mexican Grill Inc (CMG.N) since buying a large stake in the beleaguered burrito seller. Shares in Chipotle were up 6 percent at $391.70 in midday trading, buoyed by Ackman’s comments and the expectation that the company could benefit from business-friendly tax reforms expected to be championed by President-elect Donald Trump. Ackman’s Pershing Square Capital Management announced a nearly 10 percent stake in Chipotle in September. His team believes that marketing, menu, cost-saving, technology and governance initiatives will help the shares rebound from a 40 percent swoon since last year’s high-profile food safety lapses.

Billionaire Peltz On The Election, Market Volatility And Trump’s Next Policy Steps (CNBC)
Billionaire hedge fund manager Nelson Peltz shared his views on the market and what policies will come from a Donald Trump presidency in an exclusive interview with CNBC’s Scott Wapner on Wednesday. Peltz is chief executive officer of Trian Fund Management. The firm manages more than $10 billion, according to its website. On Trump’s possible policy moves: “He’s got to take the easy wins first, which is upgrading our infrastructure. … Repatriating the corporate cash, finally finally let’s bring it home. And I think Donald will get some corporate tax reform, which I think will actually create more jobs,” he said.

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