Michael Steinhardt Quotes:
Famous Quotes by Michael Steinhardt
Part of my attraction to ancient art is that there is an element of risk, of speculation.
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.
The balance between confidence and humility is best learned through extensive experience and mistakes.
Art is a form of asset. Hedge-fund managers who have made money fast should diversify into other areas.
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 Best Quotes
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.
In the 1950s and 1960s, the heroes were the long-term investors; today the heroes are the wise guys.
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Brokerage firms don’t sell customers stock so much as they sell those horrible mutual funds
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.
Always make your living doing something you enjoy.