The world’s greatest investors: Michael Steinhardt
Michael Steinhardt carved out a profitable career in variant perception: finding where the market consensus was flawed, then trading against it.
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?
What was his best trade?
What lessons are there for individual investors?
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