Steinhardt: "Good Cyclical Time" to Buy

Michael Steinhardt, the well regarded manager of the Steinhardt Partners hedge fund (which closed down in 1995), believes that now is a “good cyclical time to invest in equities”. Speaking at the Reuters Investment Outlook Summit, Steinhardt seemed to play both sides of the fence, saying that he doesn’t think we’ve seen a bottom in stocks but that he wouldn’t be surprised if this was the bottom. Regardless of trying to call a bottom, the decline in equity prices has created some good opportunities for investors. Steinhardt is worth listening to considering his hedge fund gained 24.5% per annum after fees over almost three decades.