No Bull: My Life In And Out Of Markets

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 talent for knowing when to trade against the prevailing market trend—sometimes against the advice of clients—resulted in many of his greatest successes. He provides detailed accounts of some of his most sensational coups—including his decision in 1981 to stake everything on bonds—and his less successful ventures, such as his global macro-trading in the mid-1990s.

At the same time, No Bull is the story of a boy from Bensonhurst and his rise from Brooklyn streets to Wall Street heights. In an engaging narrative, Steinhardt shares the influences shaping his attitudes toward life and success, the start of his love for investing, and his shift from wealth accumulation to philanthropy. He discusses his role as chairman of the Democratic Leadership Council and his efforts to strengthen the Jewish community.

The inspiring true story of a Wall Street genius and philanthropist, No Bull is an unforgettable read for finance professionals and those interested in human nature.

Michael Steinhardt is recognized as one of the most successful money managers in Wall Street history, also known for his philanthropic work, notably cofounding Birthright Israel with Charles Bronfman to provide free trips to Israel for young Jewish people from the Diaspora.