Regret the Error

On the first page of the Business section of Sunday’s Post-Gazette we printed an article about Stanley Druckenmiller and his company Duquesne Capital Management. The article included headlines that suggested that the funds which Mr. Druckenmiller and Duquesne Capital manage had suffered significant losses and that Mr. Druckenmiller had been “sacked” and “took it on the chin” in the financial markets. Unfortunately, the author of the article did not check the accuracy of the facts with Mr. Druckenmiller or Duquesne Capital. According to Mr. Druckenmiller and other published reports, all of the funds managed by him and that organization have had positive returns for the year. In addition, the headlines that accompanied the story were, in hindsight, misleading and did not reflect the more qualified points made in the story itself. Simply put, we did not adhere to our own standards. We sincerely apologize to Mr. Druckenmiller and Duquesne Capital for these lapses. Link