Gerald Tsai Jr., a fund manager and financier who pioneered the creation of performance funds in the 1950s and â60s and later turned a canning company into the financial services giant Primerica, died Wednesday in Manhattan. He was 79.
Pioneer of the speculative go-go fund... "Anyone who bought 100 shares of Manhattan Fund for $1,000 at its 1966 offering would have been left with about half that last week (1973), not counting dividends. " http://www.time.com/time/magazine/article/0,9171,903852,00.html
He is a pioneer in using market breadth and saved fidelity from sitting on huge stock positions right before market crash back in the 80s.
Ya gotta hope 7, did you see the 1pm CNBC slot? He said part of the problem besides the uptick rule was hedgies didn't have to borrow before they shorted and they can just unload on these companies. He says it has to stop. Cramer said Naked Shorting is killing companies. He must have a spot on his lung and is trying to get on the right side of God or something. I about choked. I really believe he know s the Feds are around, and he's trying to be a good guy. But we'll find out pretty quickly. this Russian roulette with companies has got to end, or we'll have to watch old newsreels and figure out how to plan Victory Gardens.