Michael Steinhardt is a billionaire hedge fund manager and philanthropist from the United States.
He achieved an impressive 24% annual return over 28 years outperforming the S&P 500.
Steinhardt was known for his versatility dealing in stocks bonds currencies and both long and short options.
He showed a knack for economics early graduating from the Wharton School at 19.
Starting his career at Calvin Bullock and Loeb Rhoades & Co he later co-founded Steinhardt Fine Berkowitz & Co leading it to success.
After a challenging year in 1994 he retired in 1995 shifting his focus to humanitarian efforts.
Steinhardt was known for his risk-taking in short-term investments relying on a team of analysts and believed in investing boldly.
Here are some of the great quotes by Michael Steinhardt.
Best Michael Steinhardt Quotes
Always make your living doing something you enjoy. ~ Michael Steinhardt.
Brokerage firms don’t sell customers stock so much as they sell those horrible mutual funds. ~ Michael Steinhardt.
Art is a form of asset. Hedge-fund managers who have made money fast should diversify into other areas. ~ Michael Steinhardt.
Anyone who thinks he can formulate a success in this market is deluding himself because it changes too quickly. ~ Michael Steinhardt.
I always used fundamentals. Nevertheless, the fact is that often, the period of my investments was short-term. ~ Michael Steinhardt.
A little part of my life is built around ancient art. ~ Michael Steinhardt.
One of the most important analytic tools when assessing an investment is an intellectually advantaged disparate view. This includes knowing more and perceiving the situation better than others do. ~ Michael Steinhardt.
In the 1950s and 1960s, the heroes were the long-term investors; today the heroes are the wise guys. ~ Michael Steinhardt.
Famous Michael Steinhardt Quotes
Time and again, in every market cycle I have witnessed, the extremes of emotion always appear, even among experienced investors. When the world wants to buy only [bonds], you can almost close your eyes and [buy] stocks. ~ Michael Steinhardt.
A good trader has to have three things a chronic inability to accept things at face value, to feel continuously unsettled, and to have humility. ~ Michael Steinhardt.
Just as outright euphoria is often a sign of a market top, fear is for sure a sign of a market bottom. Time and time again, in every market cycle I have witnessed, the extremes of emotion always appear, even among experienced investors. When the world wants to buy only treasury bills, you can almost close your eyes and get long stocks. ~ Michael Steinhardt.
Popular Michael Steinhardt Quotes
I do an enormous amount of trading, not necessarily just for profit, but also because it opens up other opportunities. I get a chance to smell many things. Trading is a catalyst. ~ Michael Steinhardt.
You have to be intellectually honest with yourself and others. In my judgment, all great investors are seekers of truth. ~ Michael Steinhardt.
Do not make small investments. If you are going to put money at risk, make sure the reward is high enough to justify the time and effort you put into the investment decision. ~ Michael Steinhardt.
Understanding market expectation is at least as important as, and often different from fundamental knowledge. ~ Michael Steinhardt.
Always trust your intuition, which resembles a hidden supercomputer in the mind. It can help you do the right thing at the right time if you give it a chance. ~ Michael Steinhardt.
In North America, the greatest threat to the Jewish people is not the external force of antisemitism, but the internal forces of apathy, inertia and ignorance of our own heritage. ~ Michael Steinhardt.
The markets are always changing, and the successful trader needs to adapt to these changes. ~ Michael Steinhardt.
The hardest thing over the years has been having the courage to go against the dominant wisdom of the time to have a view that is at variance with the present consensus and bet that view. ~ Michael Steinhardt.
One of the most important analytic tools when assessing an investment is an intellectually advantaged disparate view. This includes knowing more and perceiving the situation better than others do. It is also critical to have a keen understanding of what the market expectations for any investment truly are. Thus, the process by which a disparate perception, when correct, becomes consensus should lead to meaningful profit. Understanding market expectation is at least as important as, and often different from fundamental knowledge. ~ Michael Steinhardt.
Great Michael Steinhardt Quotes
One dollar invested with me in 1967 would have been worth $481 on the day I closed the firm in 1995, versus $19 if it had been invested in a Standard & Poor’s index fund. ~ Michael Steinhardt.
Make good decisions even with incomplete information. You will never have all the information you need. What matters is what you do with the information you have. ~ Michael Steinhardt.
Make all your mistakes early in life. The more tough lessons early on, the fewer errors you make later. ~ Michael Steinhardt.
Part of my attraction to ancient art is that there is an element of risk, of speculation. ~ Michael Steinhardt.
If you see a wonderful archaic Greek marble object in a museum, it’s not only that it’s beautiful, but what comes to your mind is the fact that it’s 2,600 or so years old, and it was done by a human being at that time who you have such a limited ability to grasp – and yet you have this enormous ability to grasp. ~ Michael Steinhardt.
Top Michael Steinhardt Quotes
Speculative joy, the joy derived from being right and being rewarded, may well be similar to the rush felt by a winning gambler. ~ Michael Steinhardt.
Be intellectually competitive. The key to research is to assimilate as much data as possible in order to be to the first to sense a major change. ~ Michael Steinhardt.
Good investing is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake. ~ Michael Steinhardt.
Now people are charging much fancier fees, and they do not make the same demands on themselves. I was always anxious that my fees were egregious and that I had to have the best performance in the world to justify them. ~ Michael Steinhardt.
The balance between confidence and humility is best learned through extensive experience and mistakes. ~ Michael Steinhardt.
I was happier when pursuing success than I was when savoring its fruits; the attraction, perhaps the addiction, was in the process, as much as in its end. ~ Michael Steinhardt.
The Orthodox believe in Jewish literacy, and most of the rest of us couldn’t care less. Rabbis and other creatures have a monopoly on Judaism. This is a turnoff in a world that is increasingly secular and that has turned away from religion. Jews are simply turning away from Judaism. ~ Michael Steinhardt.
So these were the 32 top Michael Steinhardt quotes and sayings.
If you like these quotes and sayings, then you can also read my other posts on Claude Monet quotes and Orson Welles quotes.
