Michael Steinhard was born 7 December 1940 years in Brooklyn, New York, USA. Steinhard recognized as one of the best investors and hedge fund managers. Founder of Steinhardt hedge fund, Fine, Berkowitz & Co.
One of the best traders and investors grew up in Brooklyn, his father was a jeweler. Michael first became interested in stocks, when he was presented with several pieces for one of the holidays, he soon began to go to the local Merrill Lynch branch to check his investments and use the income to buy more shares. After graduation, Age 16 years, Steinhardt went to Wharton School at Pennsylvania State University, where he completed the basic university program in three years.
Until the foundations in the summer 1967 the year of its hedge fund, Michael worked as an analyst at Loeb, Rhodes & Co. (now part of Citigroup). Michael Steinhardt Fund's annual average return was 24,5 %, That, after deducting all commissions, almost three times higher than the average annual return of the S index & P 500 over the same period of time.
After a long period of successful fund activity, Steinhard and his company come under investigation, associated with the manipulation of short-term Treasury bonds in the early 1990s. Michael Steinhard personally paid 75 % from a fine in 70 million $. Steinhard's company earned on treasury securities 600 million $. Steinhard's hedge fund closed at the end 1995 of the year, distributing profits between partners and making Michael Steinhard himself a very rich man.
IN 2004 Steinhard returned to work at Index Development Partners, Inc., now known as WisdomTree Investments. In August 2007 of the year WisdomTree managed 4 миллиардами $ and showed monthly 10 % height. During the recession 2007 and at the beginning of winter 2007-2008 of the year, WisdomTree growth rate slowed, but, recently the company is gaining momentum again.
