Monday, May 20, 2013

Who Got Rich This Week: Hedge fund legend Michael Steinhardt.

According to Forbes: When we last checked in with Michael Steinhardt in October 2012, shares of WisdomTree Investments, where Steinhardt serves as chairman, were up 12.4% on the week, netting the investor a $24.3 million paper gain.   I focused Steinhardt’s October entry on the recent success of WisdomTree, and on the merits of ETFs in general as investment tools for retail and professional investors alike. But Steinhardt himself is, simply put, a legend in his own right.

Worthy of mention alongside greats such as Soros and Robertson, he was a pioneer of the hedge fund industry and he was one of the best. His firm, Steinhardt Partners, achieved a compound average annual return of 24% from 1967 through 1995, more than doubling up the S&P 500 over that 28 year period.

And Steinhardt’s personal narrative is as intriguing as his investment record…..

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