Stanley Druckenmiller is still bullish the market because of the Fed and Trump

Investing

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Billionaire hedge fund manager Stanley Druckenmiller said Friday that he agrees with fellow investor David Tepper’s optimism on the market and said he’s still “riding the horse.”

“I revealed a very bullish posture intermediate term since October when Powell guaranteed he would not rescind the insurance cuts,” Druckenmiller said in an email to CNBC’s Joe Kernen. “Since then, both have worked out and the Fed is still whining about inflation being below target.”

“In addition, Trump’s election prospects have increased with two trade agreements and big win in Iran which the Democrats have responded poorly to,” he added. “So I am still ‘riding the horse’ and bullish immediate term.”

Druckenmiller’s comments come as U.S. equities prolong the longest bull market in U.S. history that began in March 2009. The S&P 500 has skyrocketed more than 380% since then and on Thursday reached an all-time high north of 3,300.

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