[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.
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].
According to a New York Times obituary, Mates died in Kansas City on December 25, 1982.
[2] This article about a United States businessperson is a stub.