Frederick S. Mates, aka Frederic Mates, founded in August 1967 the Mates Investment Fund, a high-flying mutual fund during the 'Go-Go' 60s that later crashed in the bear market of the early 1970s.[1] Mates ran his fund from an office he dubbed the "kibbutz" and with a young staff he called his "flower children".[1] Mates put most of his fund into a letter stock known as Omega Equities. Mates in determining his funds assets assigned a value to the barely traded Omega of $16 a share, while having purchased the stock at $3.25 a share. Mates got into trouble over this practice[citation needed] which was routine in the 1960s[citation needed] and not uncommon even today[citation needed], of accounting for letter stocks at a price different from what was paid for it. As a result, when confidence was lost in Mates' mutual fund and investors wanted to cash out[citation needed], redemptions had to be suspended for a while, which the U.S. Securities and Exchange Commission condoned[citation needed].
Mates was born in Brooklyn and graduated from Brooklyn College in 1954. According to a New York Times obituary, Mates died in Kansas City on December 25, 1982.[2]
^ abBrooks, John (21 September 1999). The Go-Go Years: The Drama and Crashing Finale of Wall Street's Bullish 60s. John Wiley & Sons. p. 267. ISBN978-0-471-35755-1.
^"Frederic S. Mates, 50, Mutual Fund Executive". The New York Times. December 30, 1982. Retrieved 14 August 2014.
Referencesedit
John Brooks Wiley. The Go-Go Years: The Drama and Crashing Finale of Wall Street's Bullish 60s. New Ed edition (September 10, 1999) Excerpt
frederick, mates, frederic, mates, founded, august, 1967, mates, investment, fund, high, flying, mutual, fund, during, that, later, crashed, bear, market, early, 1970s, mates, fund, from, office, dubbed, kibbutz, with, young, staff, called, flower, children, m. Frederick S Mates aka Frederic Mates founded in August 1967 the Mates Investment Fund a high flying mutual fund during the Go Go 60s that later crashed in the bear market of the early 1970s 1 Mates ran his fund from an office he dubbed the kibbutz and with a young staff he called his flower children 1 Mates put most of his fund into a letter stock known as Omega Equities Mates in determining his funds assets assigned a value to the barely traded Omega of 16 a share while having purchased the stock at 3 25 a share Mates got into trouble over this practice citation needed which was routine in the 1960s citation needed and not uncommon even today citation needed of accounting for letter stocks at a price different from what was paid for it As a result when confidence was lost in Mates mutual fund and investors wanted to cash out citation needed redemptions had to be suspended for a while which the U S Securities and Exchange Commission condoned citation needed Mates was born in Brooklyn and graduated from Brooklyn College in 1954 According to a New York Times obituary Mates died in Kansas City on December 25 1982 2 See also editGerald Tsai Cortes Wesley RandellNotes edit a b Brooks John 21 September 1999 The Go Go Years The Drama and Crashing Finale of Wall Street s Bullish 60s John Wiley amp Sons p 267 ISBN 978 0 471 35755 1 Frederic S Mates 50 Mutual Fund Executive The New York Times December 30 1982 Retrieved 14 August 2014 References editJohn Brooks Wiley The Go Go Years The Drama and Crashing Finale of Wall Street s Bullish 60s New Ed edition September 10 1999 Excerpt Roger Lowenstein Buffett The Making of an American Capitalist Random House 1995 ISBN 0 679 41584 X Returns for illiquid holdings in mutual funds are overstated study by Nicolas Bollen and Veronika Pool Time magazine Mates Checked Jan 03 1969 Valerie Mates on Google Answers nbsp This article about a United States businessperson is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Frederick S Mates amp oldid 1146537391, wikipedia, wiki, book, books, library,
