Michael Steinhardt

AAA

DEFINITION of 'Michael Steinhardt'

Michael Steinhardt was among the first of the hedge fund managers. He founded his own hedge fund in 1967, Steinhardt, Fine, Berkowitz & Co., which provided net returns of nearly 25% per year after fees, tripling the performance of the S&P 500 over the same time interval. Michael is also an avid collector of art, as well as a philanthropist and political activist. He currently acts as chairman for WisdomTree Investments.

INVESTOPEDIA EXPLAINS 'Michael Steinhardt'

Michael was born in 1940 in Brooklyn, New York. He worked as a financial analyst, where he learned about conglomerate business practices. His hedge fund was forced to repay $70 million dollars as a penalty for the alleged manipulation of treasury security positions in the early 1990s, on which the firm made approximately $600 million.

RELATED TERMS
  1. Bond

    A debt investment in which an investor loans money to an entity ...
  2. Hedge Fund

    An aggressively managed portfolio of investments that uses leveraged, ...
  3. Peter Lynch

    One of the most successful and well known investors of all time. ...
  4. Stock

    A type of security that signifies ownership in a corporation ...
  5. Derivative

    A security whose price is dependent upon or derived from one ...
  6. Mutual Fund

    An investment vehicle that is made up of a pool of funds collected ...
RELATED FAQS
  1. What is the 12b-1 fee meant to cover?

    A 12b-1 fee in a mutual fund is meant to cover the fees of companies and individuals through which investors of a fund buy ... Read Full Answer >>
  2. Which federal regulatory agencies approved and are now responsible for enforcing ...

    Five federal regulatory agencies approved and are jointly responsible for enforcing the Volcker rule. These agencies include ... Read Full Answer >>
  3. What is the purpose of the Volcker Rule?

    The Volcker rule limits two main types of activities by large institutional banks. Banks are prohibited from engaging in ... Read Full Answer >>
  4. What types of positions might a Chartered Financial Analyst (CFA) hold?

    The types of positions that a Chartered Financial Analyst (CFA) is likely to hold include any position that deals with large ... Read Full Answer >>
  5. What does a high information ratio tell an investor about a mutual fund?

    A high information ratio tells an investor that the sustained performance of a mutual fund's active manager is high and that ... Read Full Answer >>
  6. Why is Manchester United (MANU) carrying so much debt?

    The takeover of Manchester United by the Glazer family beginning in 2005 saddled the historic club with substantial amounts ... Read Full Answer >>
Related Articles
  1. Investing Basics

    The Christmas Saints Of Wall Street

    Learn how some of world's richest people spread holiday cheer year-round.
  2. Personal Finance

    A History Of U.S. Monopolies

    These monoliths helped develop the economy and infrastructure at the expense of competition.
  3. Personal Finance

    The 5 Most Feared Figures In Finance

    Gates, Soros, Icahn, Rockefeller and Morgan caused chills on Wall Street.
  4. Fundamental Analysis

    The Unsung Pioneers Of Finance

    We all know names like Rockefeller, but there are other influential pioneers of finance in America's history.
  5. Entrepreneurship

    The Greatest Investors

    Read about the achievements of those who have mastered the art of investing.
  6. Mutual Funds & ETFs

    How Private Equity and Hedge Funds are Taxed

    Private equity and hedge funds offer an appealing tax structure for those who can afford to invest in them. Here's why.
  7. Mutual Funds & ETFs

    Citadel And Bernanke, The Perfect Relationship?

    How does Bernanke's relationship with investment firms impact Wall Street and Main Street?
  8. Investing Basics

    What is the Shadow Banking System?

    The shadow banking system is composed of financial institutions that do not take deposits in the tradition sense.
  9. Mutual Funds & ETFs

    Hedge Fund Balance Sheet Example

    What once was a niche investment vehicle for the ultra-rich, the hedge fund industry has grown to more than $2.5 billion in assets under management.
  10. Credit & Loans

    What is a Syndicated Loan?

    A syndicated loan is one that involves a group of lenders (called the syndicate) who pool their lending resources to make a loan.

You May Also Like

Hot Definitions
  1. OsMA

    An abbreviation for Oscillator - Moving Average. OsMA is used in technical analysis to represent the variance between an ...
  2. Investopedia

    One of the best-known sources of financial information on the internet. Investopedia is a resource for investors, consumers ...
  3. Unfair Claims Practice

    The improper avoidance of a claim by an insurer or an attempt to reduce the size of the claim. By engaging in unfair claims ...
  4. Killer Bees

    An individual or firm that helps a company fend off a takeover attempt. A killer bee uses defensive strategies to keep an ...
  5. Sin Tax

    A state-sponsored tax that is added to products or services that are seen as vices, such as alcohol, tobacco and gambling. ...
  6. Grandfathered Activities

    Nonbank activities, some of which would normally not be permissible for bank holding companies and foreign banks in the United ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!