No Bull

When the official history of twentieth-century Wall Street is written, it will certainly contain more than a few pages on Michael Steinhardt. One of the most successful money managers in the history of "The Street," Steinhardt far outshone his peers by achieving an average annual return of over thirty percent-significantly greater than that of every market benchmark. During his almost thirty-year tenure as a hedge fund manager, he amassed vast wealth for his investors and himself. One dollar invested with Steinhardt Partners L.P., his flagship hedge fund, at its inception in 1967 would have been worth $462 when he retired from active money management in 1995.
No Bull offers an account of some of the investment strategies that drove Michael Steinhardt's historic success as a hedge fund manager including a focus on his skills as an industry analyst and consummate stock picker. He also reveals how his uncanny talent for knowing when to trade against the prevailing market trend-a talent that was not always appreciated by several erstwhile high-profile clients-resulted in many of his greatest successes. Here he provides detailed accounts of some of his most sensational coups-including his momentous decision, in 1981, to stake everything on bonds-and his equally sensational failures, such as his disastrous foray into global macro-trading in the mid-1990s.
At the same time, No Bull is the rags-to-riches story of a boy from Bensonhurst and his rise from the streets of Brooklyn to the heights of Wall Street. In a thoroughly engaging narrative, Steinhardt relates the early influences that shaped his attitudes toward life and success, as well as the beginning of his love affair with stock investing. Further, he chronicles his dawning awareness of the need for a purpose in life beyond the acquisition of wealth and how it led to his decision to retire and redirect his energies. We learn about his experiences as the chairman of the Democratic Leadership Council for nearly a decade, as well as his innovative thinking and ambitious projects to strengthen the Jewish community.
The inspiring true story of a Wall Street genius and world-class philanthropist, No Bull is an unforgettable read for finance professionals and students of human nature alike.
Michael Steinhardt is one of the most successful money managers in the history of Wall Street. He is also widely known for his philanthropic activities, particularly in the Jewish community-most notably as cofounder with Charles Bronfman of birthright israel, a program whose mission is to provide a free educational opportunity for every young Jewish person of the Diaspora to visit Israel."No Bull" ist die lang ersehnte Autobiographie der Wall Street Legende Michael Steinhardt. Steinhardt gilt als einer der erfolgreichsten Investoren in der Geschichte der Wall Street. In der Zeit von 1967 bis 1995 häufte er für sich und seine Investoren ein Vermögen an. Mit einer alljährlichen Rendite von über 30% lag er weit über dem Marktdurchschnitt und übertraf fast jeden seiner Kollegen. Doch bis vor kurzem noch war er nicht bereit, viel über sich und seine Philosophie preiszugeben. Hinter Steinhardts phänomenalem Erfolg an der Wall Street steht sein soziales Engagement zum Wohl der jüdischen Gemeinschaft, das sich auf sein politisches Engagement als ehemaliger Chairman des Progressive Policy Institute und als früherer informeller Berater Clintons gründet. In "No Bull" enthüllt Steinhardt erstmals die Geheimnisse seines Erfolgs und ermöglicht dem Leser einen faszinierenden Einblick in seine philantrope Philosophie. Er bietet eine bestechend offene und inspirierende Darstellung seines kometenhaften Aufstiegs aus einfachen Verhältnissen bis hin an die Spitze der Wall Street. Eine fesselnde und bewegende Lektüre. 1. The Phone Call.

2. Bensonhurst.

3. The Wise Guy of Forty-Seventh Street.

4. The Ivy League, the Army, and the Street.

5. The Hottest Analysts on Wall Street.

6. Steinhardt, Fine, Berkowitz & Company.

7. Judy.

8. Variant Perception.

9. There and Back.

10. Menageries and Movies.

11. The Crash of 1987.

12. The Steinhardt Style.

13. Dabbing in Politics.

14. The Worst Year of My Life.

15. "Steinhardt Quits!

16. The Death of My Father.

17. Two Rivers.

Index.

MICHAEL STEINHARDT is one of the most successful money managers in the history of Wall Street. He is also widely known for his philanthropic activities, particularly in the Jewish community—most notably as cofounder with Charles Bronfman of "birthright israel," a program whose mission is to provide a free educational opportunity for every young Jewish person of the Diaspora to visit Israel.

Critical Praise for NO BULL

"No Bull . . . is a breath of fresh air in a traditionally windy genre."
—The Wall Sreet Journal

"Michael Steinhardt rode bull and bear markets to great success for himself and his investors. No Bull is a highly readable inside look into the man, his successes, and his motivations."
—George Soros, Chairman, Soros Fund Management, and Chairman,

The Soros Foundations Network

"Michael Steinhardt has written a fascinating history of his experiences in the tumultuous economic times of the last forty years. His reflections are endlessly interesting, totally candid, very instructive, moving, warm, and in many ways, inspirational."
—Laurence A. Tisch, Co-Chairman, Loews Corporation

"Michael Steinhardt has penned a joyous book about his rich (in every way) experiences on Wall Street, filled with angst . . . and reminiscent of a World of Our Fathers as only Steinhardt would know."
—James J. Cramer, Markets Commentator for TheStreet.com and CNBC

"No Bull is a memoir rich in language, in detail, and in self-awareness."
—Marty Peretz, Editor in Chief, The New Republic