Stanley Druckenmiller on debt and future stock returns

We have borrowed so much that I’m skeptical that three to five years out that equities will give us any kind of return.

~ Stanley Druckenmiller, Robin Hood Investors Conference, October 27, 2020

(quoted in "This billionaire protégé of George Soros has returned 30% a year for decades — here’s his gloomy take on what’s next in the stock market," by Shawn Langlois, MarketWatch.com, October 28, 2020