Druckenmiller: This could end 'very badly'

David A. Grogan | CNBC

Billionaire investor Stanley Druckenmiller has once again warned that the easy money policies of recent years could end poorly.

"I know it's so tempting to go ahead and make investments and it looks good for today," the retired founder of Duquense Capital Management said, "but when this thing ends, because we've had speculation, we've had money building up four to six years in terms of a risk pattern, I think it could end very badly." (Tweet this)

The investor's comments were made at an event in Palm Beach, Florida on Jan. 18, but the transcript was just circulated on Friday.

Druckenmiller cited warning signs like the high number of initial public offerings of companies that are unprofitable, and high levels of debt issued to companies, often with poor credit ratings and without many lending restrictions—so called covenants.