Michael Steinhardt Quotes:
Michael Steinhardt Best Quotes
Always make your living doing something you enjoy.
In the 1950s and 1960s, the heroes were the long-term investors; today the heroes are the wise guys.
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.
Brokerage firms don’t sell customers stock so much as they sell those horrible mutual funds
Famous Quotes by Michael Steinhardt
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.
Anyone who thinks he can formulate a success in this market is deluding himself because it changes too quickly. As soon as a formula is right for any length of time, its own success carries the weight of its inevitable failure.
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Art is a form of asset. Hedge-fund managers who have made money fast should diversify into other areas.
The balance between confidence and humility is best learned through extensive experience and mistakes.