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Politics : Ask Michael Burke

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To: Dan who wrote (82704)	8/7/2000 11:56:33 AM
From: Knighty Tin	of 132070

Dan, It really depends on the % of assets that TCW keeps in the top five. You can't get that from the reports as the mgr. may have traded in or out of something after the report was finalized. I've done this sort of thing with ASA and PEO, but they are much narrower in their approach. I would be afraid of a takeover in one of the top five that would eat your lunch. You are already a bit of a low correlation with the stock by using the convertible. So, I don't think a convertible fund is the best way to play this paired trading strategy. I would much rather be long Japan Equity Fund (JEQ) at a 20% discount and short the Japan Web, EWJ. Only one easy issue to borrow and a much higher correlation.

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