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...recalls. "Though I was making about $50,000 a year, Bache didn't let me rise fast enough." In 1955, Stein quit and joined Dreyfus...

Author: /time Magazine | Title: Business: Change and Turmoil on Wall Street | 8/24/1970 | See Source »

...that time, The Dreyfus Fund was a midget, with assets of only $2,300,000. Stein earned a reputation as a shrewd stock analyst, helping to steer the fund into rapid risers, including Polaroid. Within a few years he was chief assistant to Jack Dreyfus Jr., founder of the fund. In 1962, at 35, Stein suffered a mild stroke, but recovered with no aftereffects. When Jack Dreyfus retired five years ago to enjoy his multimillions, he turned control of the business over to his protege, the ex-violinist...

Author: /time Magazine | Title: Business: Change and Turmoil on Wall Street | 8/24/1970 | See Source »

...managing the Dreyfus Corp., Stein is paid $160,000 a year; he also owns 5% of the corporation's stock, a holding now worth about $2,000,000. He runs his empire in a muted, loosely organized style. Visitors often find him sprawled in an armchair in his corner office on the 35th floor of Manhattan's General Motors Building, his shoes off while he studies charts. Stein's informal clothes, casual manner and diffident speech are outward manifestations of a state of mind. He soaks up information, but prefers getting it from people rather than books. An unschooled...

Author: /time Magazine | Title: Business: Change and Turmoil on Wall Street | 8/24/1970 | See Source »

...Christ's sake, Howard, get off my back." Stein and Hardy are now con spiring to persuade women employees to wear pantsuits in the office to fight the onslaught of the midi. Hardy's next plan is to wipe out neckties at the Drey fus headquarters. "By fall," he says, "we'll be wearing turtleneck sweaters...

Author: /time Magazine | Title: Business: Change and Turmoil on Wall Street | 8/24/1970 | See Source »

...Stein manages to spend most week ends at his 90-acre country spread at Cross River, N.Y., in upper Westchester County, where he lives with his second wife Janet, their two children and her three children by a previous marriage. (He also has a town house on Manhattan's Upper East Side.) He begins a typical workday by reaching the office, via his chauffeured Cadillac, by 8 a.m. Often he works until midnight. He spends so much time in offices, cars and planes, and so little time outdoors, that he almost never wears an over coat, even in midwinter...

Author: /time Magazine | Title: Business: Change and Turmoil on Wall Street | 8/24/1970 | See Source »

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