Duquesne’s Michael Buckley says young investors skip over learning these critical skills. They could prove to be invaluable in the AI boom
Michael Buckley, managing director and head of equities at investment firm Duquesne Family Office, says young investors often overlook the fundamentals of corporate finance.
Key points
- “Now, we’re seeing that in the AI venture world, these concerns about credit and interest rates suddenly have this big impact on AI infrastructure, private companies, and the venture community,” Buckley says.
- It particularly stands out for those involved in data centers or funding next-generation labs, Buckley adds; tech hyperscalers issued more than $100 billion in corporate bonds last year, according to the Bank for International Settlements.
- As a self-proclaimed “non-dogmatic” investor, he’s continuing to keep his horizons open, a philosophy shared by Druckenmiller: Keeping a broad perspective on the market—and a set of skills to meet the moment—could mean the difference between spotting an opportunity or missing it entirely.
“I learned the importance of things like capital structure and debt, which I think a lot of people—for example, that start out their career in things like equities—oftentimes will skip that stuff over,” Buckley tells Fortune.
Additional details
- As investors race to identify the next big winners in the AI boom, standing out requires more than just spotting the next breakthrough.
- Right after graduating from Harvard, Buckley learned the ropes of accounting and corporate finance at Sankaty Advisors, the now-renamed credit arm of private equity giant Bain Capital.
- Buckley explains that in this new ecosystem, debt is suddenly very important not only to distressed debt companies, but also to public markets and venture firms.
- With credit as the focus, Buckley poured himself into capital and corporate structures, as well as bonds and loans.
- “I think it’s something I’ve learned from Stan, to always be thinking about the top-down and the bottom-up.” This story was originally featured on Fortune.com.
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