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Strategies & Market Trends : Thai Funds
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To: peter michaelson who wrote (88)2/25/1998 7:43:00 PM
From: alan lewis  Read Replies (1) of 107
 
Do I read your last posting to mean that you are hedging your TTF short with a long position in TC? If so, why not hedge with one of the CEFs trading at a discount in London, or with TVF - which has a very substantial stake in Thailand - thought the precise exposure to Thailand is unknowable. I remember some of the back and forth on ICEFI, with someone pontificating that trading costs and spreads make a London CEF a bad idea. I hope you weren't persuaded by such nonsense. Even if the trading costs are a little higher, they're exceedingly minor in comparison to the size of the premiums. And while the spreads are generally large, spreads don't stay the same forever. And even if they did, and you gave up say 10% due to the spread, that to is still relatively minor in comparison to the TTF premium and is much less than you will give up in the decline of TC's premium.
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