Cortez
Tough but Fair
Just to extend this a bit... The problem is that once the behaviours have started it is usually too late - if the horse is gelded before sexual maturity it will never produce testosterone. Once they have reached sexual maturity not only do the yesticles produce testosterone but the brain does too - even when the testicles are gone the brain will still produce some testosterone, hence why late gelding still leaves behaviours.
Testosterone is present in small amounts in geldings, and mares for that matter, and also is present before sexual maturity (ref. human teenagers, for instance