MUTUAL FUNDS: Tsai Steps Down

The alchemists of the mid-1960s were the managers of the highly speculative go-go mutual funds, which leaped in value during those racy days. There was no more celebrated stock picker than Shanghai-born, Boston-educated Gerald Tsai Jr., who pondered the charts, played his hunches and took long shots—many of which paid off. Time and the market have not been kind to Tsai. Last week, after several losing years, he quit as president of Tsai Management & Research Corp., which he founded in 1965.

Tsai began generating attention in the early '60s by his success as a quick in-and-out stock trader and...

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