Stanley Druckenmiller says the stock market is in an ‘absolute raging mania’

“Everybody loves a party ... but, inevitably, after a big party there’s a hangover,” billionaire Stanley Druckenmiller told CNBC.

“Right now, we’re in an absolute raging mania. We’ve got commentators encouraging companies to do stock splits. Companies then go up 50%, 30%, 40% on stock splits. That brings no value, but the stocks go up.”

The stock market is in a mania fueled by the Federal Reserve and investor speculation that will end badly in coming years, longtime hedge fund manager Stanley Druckenmiller told CNBC on Wednesday.