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The Enterprise Fund skidded 25 percent in 1969, and Fred Carr resigned.19 Other go-go funds also went down down. (Tsai landed on his feet, though, selling his fund company to CNA Financial of Chicago for about $30 million. In the 1980s, he would repeat the pattern, twice more making deals that worked out better for him than his shareholders. “With Gerry, you don’t bet the horse, you bet the jockey,” one person who knew him said. “You invest when Gerry invests, and get out when he does.”)20
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