Michael Steinhardt was born in New York in 1940. He graduated from the University of Pennsylvania in 1960, aged 19. He worked for seven years as an analyst with the Wall Street bank Loeb and Rhoades. In 1967 he set up his own investment fund, Steinhardt, Fine, Berkowitz & Co. Apart from a brief one-year break in 1978, he continued to make the main investment decisions for the firm, taking over sole control from his partners in 1979. He finally wound up Steinhardt Partners in 1995. In 2004 he returned to the investment world as chairman of WisdomTree Investments.
What was his strategy?
Did it work out?
This saw him amass a $1.2bn fortune, according to Forbes. However, his career was not without controversy in 1994 he had personally to pay $40m to the Department of Justice to settle claims that he had manipulated the bond market.
What was his best trade?
What lessons are there for individual investors?
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