I was happier when pursuing success than I was when savoring its fruits; the attraction, perhaps the addiction, was in the process, as much as in its…

- Michael Steinhardt

Good investing is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake.

- Michael Steinhardt

The markets are always changing, and the successful trader needs to adapt to these changes.

- Michael Steinhardt

When your views are truly contrarian, they are inevitably uncomfortable. Courage and the ability to withstand pain are required.

- Michael Steinhardt

Brokerage firms don't sell customers stock so much as they sell those horrible mutual funds

- Michael Steinhardt

You have to be intellectually honest with yourself and others. In my judgment, all great investors are seekers of truth.

- Michael Steinhardt

In the 1950s and 1960s, the heroes were the long-term investors; today the heroes are the wise guys.

- Michael Steinhardt

Part of my attraction to ancient art is that there is an element of risk, of speculation.

- Michael Steinhardt

Art is a form of asset. Hedge-fund managers who have made money fast should diversify into other areas.

- Michael Steinhardt