Word: neuwirth
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Dates: during 1960-1969
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Summer Rally. The Neuwirth Fund, which last year soared 90% in per-share value to rank No. 1 in the U.S., fell 16% in the first half and dropped to 305th place. The Mates Investment Fund, which gained 73% last year, has fallen to No. 367. Gibraltar Growth, which was in third place in 1968, dropped 13% and is now 254th...
...last year's ten fastest-growing funds, only four exceeded $10 million in assets. Fastest rising was the Neuwirth Fund, which has assets of $94 million and achieved 90% growth. In 1967 -a year in which it was hard to do badly-Neuwirth grew 300%. But 1968, as 36-year-old Manager Henry Neuwirth says, "was more on the selective side." Neuwirth selected a number of long-depressed insurance stocks (CNA Financial, Safeco) early in the year, then rode them up as insurance companies became sought-after merger candidates...