Stanley Druckenmiller says 'animal spirits' are back in markets because of Trump with CEOs 'giddy'

joining us right now is Duane family office chairman and CEO Stanley dren Miller Stan first of all thank you for being with us this morning I know a lot of people have been wondering how you're feeling about things just from a markets perspective from an economy perspective what do you have to say today uh good morning Becky nice to see you you too uh the economy is very interesting we're at a very low unemployment rate 4% essentially we've got 3% GDP growth and I've been doing this for 49 years and we're probably going from the

most anti-business Administration to the opposite so we do a lot of talking to CEOs and companies on the ground and I'd say CEOs are somewhere between relieved and giddy so we're a believer in Animal Spirits um Paul Ryan was on your show last week talking about a 32% increase in business confidence over the last 12 months I think that's probably a record in terms of chain so the economy looks very very strong at least for the next 6 months which is about a as far out as one can see uh with any degree of confidence

in terms of the market um I would say it's complicated we despite what I just said about all the wonderful things about the economy we have an earnings yield to bond yield probably the most unattractive level not probably the most attractive level in 20 years so you're going to have this push of a strong economy versus bond yields rising in response to that strong economy and that kind of makes me not have a strong opinion one where or the other on the market I will say this in my business every change creates change in security

prices and having this kind of radical change from one Administration to the other in addition to what's going on in the private sector with Innovation then you got deregulation from the government disruption I think there's going to be plenty of change and plenty for your viewers to do I wouldn't worry about the market I'd focus on individual stocks