An early proponent of momentum investing, Gerald 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.
22 Facts About Gerald Tsai
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Gerald Tsai later became CEO of a can company, American Can Company.
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Gerald Tsai was the first Chinese-American CEO of a Dow Jones Industrials company.
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Gerald Tsai's father attended the University of Michigan and was the Shanghai district manager for the Ford Motor Company.
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Gerald Tsai attended St John's University, Shanghai before moving to the United States in 1947.
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Gerald Tsai attended Wesleyan University for one semester, and graduated from Boston University with a Bachelor's and Master's in Economics.
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In 1951, Gerald Tsai began as a security analyst at Bache and Company.
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Gerald Tsai remained with Tsai Management, the company he had founded to manage the Manhattan Fund, after the sale.
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In 1978, Gerald Tsai acquired an insurance company, Associated Madison, for $2.2 million and sold it four years later to American Can Company for $162 million.
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American Can was a container production and food packaging business, and Gerald Tsai orchestrated its shift toward the more lucrative financial services sector.
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In 1987, Gerald Tsai purchased the financial firm Smith Barney for $475 million.
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Gerald Tsai received a golden parachute worth an estimated $40 million.
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Later in his life, Gerald Tsai re-entered the insurance industry, becoming chief executive officer of the Delta Life Corporation.
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In 1997, Gerald Tsai sold Delta Life to AmerUs Life Holdings for $185 million.
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Gerald Tsai was on the board of directors of numerous companies, including Apollo Investment Corporation, Rite Aid, Saks, United Rentals and Zenith Insurance Company.
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Gerald Tsai was a trustee of Boston University from 1967 to 1977 and from 1988 to 2002.
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Gerald Tsai was an honorary member of the board until his death.
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Gerald Tsai served on the board of trustees of the Norton Museum of Art and was a member of the board of overseers of the Wharton School of the University of Pennsylvania.
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Gerald Tsai's father is the president of the Barron Capital Corporation, financial consultants in San Diego.
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Gerald Tsai divorced his third wife, Nancy Raeburn, in 2006.
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In 2006, Tsai was engaged to Sharon Bush, the former wife of businessman Neil Bush.
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Gerald Tsai died of multiple organ failure in New York City on July 9,2008.