Duquesne’s Michael Buckley says young investors skip over learning these critical skills. They could prove to be invaluable in the AI boom

Investors hunting for the next big AI winners must go beyond spotting breakthroughs, according to Michael Buckley, managing director and head of equities at Duquesne Family Office. Buckley argues that young investors frequently overlook core corporate finance concepts, but those fundamentals could give them an edge in the AI boom.

Buckley, with a background spanning private equity, venture capital, and public equities, attributes his early success to learning accounting and corporate finance at credit-focused Sankaty Advisors, a division of Bain Capital. He emphasizes the importance of capital structure, debt, and bonds—a set of skills often skipped by those starting their careers in equities.

Buckley contends that in the AI-driven economy, debt is becoming increasingly crucial for companies financing data centers, chips, and computing infrastructure. He predicts that investors must assess AI companies' growth potential and repayment capabilities, especially for those involved in data centers or funding next-generation labs, where tech giants have issued over $100 billion in corporate bonds.

Buckley's expertise in debt and credit played a significant role in his recruitment by Duquesne, which hired him as an analyst at 27 to work under legendary investor Stanley Druckenmiller. At Duquesne, Buckley now steers the firm's significant investments in AI, healthcare, and biotech, highlighting the essential role of credit and interest rates in the AI venture world.

He stresses the importance of broad perspectives, echoing Druckenmiller's philosophy of keeping a diverse approach to the market.