By increasing borrowing costs and reducing liquidity, interest rate hikes have the potential to cool asset bubbles. But despite the Federal Reserve’s aggressive rate hikes, billionaire investor Stanley Druckenmiller doesn’t believe the bubble has dissipated. “I’m sitting here staring in the face at the biggest and probably the broadest asset bubble — forget that I’ve ever seen, but that I’ve ever studied,” he said at the 2023 Sohn Investment Conference. “It went on for 10 or 11 years and then it