No Bull

In the history of twentieth-century Wall Street, Michael Steinhardt will certainly receive a generous amount of attention. One of the most successful money managers in Wall Street history, Steinhardt achieved an average annual return of thirty percent over his twenty-nine-year career, a figure significantly higher than that of every market benchmark. During his tenure at Steinhardt Partners L. P. , his flagship hedge fund, one dollar invested with Steinhardt Partners at its inception in 1967 would have been worth $462 by the time he retired from active money management in 1995. The book 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.