Druckenmiller lost $600 million on a $200 million short position in Internet stocks in three weeks in 1999.
“In when I was at Soros, shorted $200,000,000 worth of Internet stocks in March '99 and in three weeks covered them at a $600,000,000 loss. I lost $600,000,000 on a $200,000,000 investment in three weeks.”
Druckenmiller admits he's not sure he's made money in shorts over forty years despite never having a down year.
“If I took back the last forty years, I'm afraid to look. I've never had a down year but I'm not sure I've made money in shorts.”