Michael Steinhardt

Michael Steinhardt was born on December 7, 1940 in Brooklyn, New York, USA. Steinhardt recognized as one of the best investors and managers of hedge funds. He is the founder of hedge fund Steinhardt, Fine, Berkowitz & Co.

One of the best traders and investors grew up in Brooklyn, his father was a jeweler. Michael first became interested in stocks when he was one of the holidays gave a few pieces, he soon began to enter the local branch of Merrill Lynch to check their investments and use the income to buy even more shares. After leaving school at the age of 16 years, Steinhardt went to study at Wharton School at the University of Pennsylvania, where for three years, graduated from the undergraduate program.

Prior to the summer of 1967 his hedge fund, Michael worked as an analyst at Loeb, Rhodes & Co. (now part of Citigroup). The average annual yield of the Fund Michael Steinhardt was 24,5%, which, after deducting all commissions, almost three times the average annual yield of the S & P 500 over the same period of time.

After a long period of success of the fund, Steinhardt and his company came under investigation related to the manipulation of short-term treasury bonds in the early 1990’s. Michael Steinhardt personally paid 75% of the fine $ 70 million. At Treasury securities Steinhardt company earned $ 600 million. Hedge fund Steinhardt closed in late 1995, dividing the profits among the partners and making the most of Michael Steinhardt very rich man.

In 2004, Steinhardt returned to work in the company of Index Development Partners, Inc., Now known as the WisdomTree Investments. In August 2007, WisdomTree managed $ 4 billion a month and showed 10% growth. During the fall 2007 and early winter of 2007-2008, the growth rate WisdomTree declined, but lately the company once again gaining momentum.

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