Michael Steinhardt
Hedge Fund Pioneer with 24% Average Returns
Value Investing
$1.2 Billion
American
Michael Steinhardt
Value Investing
Key Stats
Net Worth
$1.2 Billion
Origin
American
Lifespan
Born 1940 (86 years old)
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Biography
Michael Steinhardt is a hedge fund pioneer who delivered an average annual return of 24% over a 28-year period. His fund, Steinhardt Partners, was one of the most successful hedge funds of its era.
Steinhardt Partners
From 1967 to 1995, Steinhardt managed money with extraordinary results. A dollar invested at the start would have grown to $462, compared to $19 in the S&P 500.
Investment Style
Steinhardt was known for:
- Variant perception (different views than consensus)
- Aggressive trading
- Both long and short positions
- Macro and micro analysis combined
Trading Philosophy
"The hardest thing over the years has been having the courage to go against the dominant wisdom of the time."
Legendary Quotes
"The hardest thing over the years has been having the courage to go against the dominant wisdom of the time."
"Good trading is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake."
Recommended Reading
No Bull: My Life In and Out of Markets
Autobiography and investment insights