Gerald Tsai

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Gerald Tsai Jr. (Chinese: 蔡至勇; pinyin: Cài Zhìyǒng; March 10, 1929 – July 9, 2008) was an investor and philanthropist who helped build Fidelity Investments into a mutual fund powerhouse. After starting Fidelity Investments' first publicly sold aggressive growth fund in 1958, the Fidelity Capital Fund, he later founded the Manhattan Fund, an aggressive growth fund, in 1965. Tsai sold his interest in the fund complex in 1968 but continued to manage the funds. By 1969 the funds collapsed, losing 90% of their value. An early proponent of momentum investing, Tsai's specialty was concentrating his portfolios on narrow batches of glamour stocks, including Xerox and Polaroid Corporation, at a time when broad diversification was the prevailing wisdom. Tsai later became CEO of a can company, American Can Company. He was the first Chinese-American CEO of a Dow Jones Industrials company.