Nah. Druck isn't one of those types. Bill Ackman is.
Druck is just known to change his opinion when the facts change or he comes to a new conclusion. There's some anecdote about him completely flipping on a position when going in and out on an elevator ride that I can't quite remember.
By the way, sideways means that the stock market is going nowhere long or short. IMO, currencies and commodities are a far better place to speculate.
While you may know the guy better, notice this Druck comment comes at a time when the long term buy-and-hold thinking is at its weakest point. A slightly respectable guru saying this sort of things is enough to make some people sell.
Druck was short the S&P jan-march and covered, he was looking for a second entry if it was given. His position isn't a secret.
Also, forget him saying it. He says a lot of things at a lot of different times. The real people to question are the ones making his headline known. CNBC/MarketWatch/Cramer et all are the biggest shills for banks. If you remember, they were all pushing Dalio's cash is trash line--which he has been saying since about 2018--HARD at the peak.
Druck is just known to change his opinion when the facts change or he comes to a new conclusion. There's some anecdote about him completely flipping on a position when going in and out on an elevator ride that I can't quite remember.
By the way, sideways means that the stock market is going nowhere long or short. IMO, currencies and commodities are a far better place to speculate.