The shocking rally in U.S. stocks has claimed another bear: Stan Druckenmiller.

The legendary investor, who last month warned about owning stocks, said on Monday that he now thinks he was “far too cautious” during current market gains.

“I was up 2% the day of the bottom, and I’ve made all of 3% in the 40% rally,” Druckenmiller said in a CNBC interview. “I missed a great opportunity here. Won’t be the last time.”

The March decline in stocks ended the bull market and the spread of the coronavirus pandemic pummeled the economy and put millions of Americans out of work. While many observers were predicting unprecedented gloom just weeks ago, the S&P 500 Index has defied expectations.

In May, Druckenmiller said the risk-reward calculation for equities was the worst he’s seen in his career, and that the government stimulus programs wouldn’t be enough to overcome real world economic problems.

But as cases of the coronavirus decline in the U.S., many parts of the country are coming out of lockdowns, adding to optimism in the markets. Adding further fuel to the S&P 500 was a surprise positive jobs report on Friday, which sent the benchmark up 2.6%.

“What is clearly happening is the excitement of pre-opening is allowing a lot of these companies that have been casualties of Covid to come back” in part due to intervention by the Federal Reserve and positive news on the prospect of a vaccine that would halt the virus, he said.

In terms of his market stance, Druckenmiller said that Inc. and Microsoft Corp. are among his largest holdings. “But I have the least growth rating in my portfolio I’ve had for six or seven years,” he said. “I could change my mind in a week or two. This is very binary how this comes out on the health front.”

Druckenmiller, 66, the former chief strategist for George Soros, converted his hedge fund into Duquesne Family Office in 2010. He has an estimated net worth of $5.8 billion, according to the Bloomberg Billionaires Index.

Druckenmiller also discussed the Harlem Children’s Zone, a nonprofit that aims to end generational poverty in New York City’s Central Harlem neighborhood. He’s the chairman of its board and said it’s the best investment he’s ever made.

“It’s been a huge success, I’ve gotten great satisfaction in it,” he said. “I encourage others to experience the joy I’ve experienced by investing in the Harlem Children’s Zone and other communities where economic mobility needs to move and change our nation.”

This article was provided by Bloomberg News.