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Politics : Ask Michael Burke

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To: Tommaso who wrote (83443)	9/4/2000 4:32:18 PM
From: Knighty Tin	Read Replies (3) of 132070

T, I don't know the answer, as I have asked the question myself several times. I have some inklings. Latin American, Asian and even Australian fixed income investments benefitted from the "emerging countries" mania in the early 1990s. With a CEF, you can only bring new offerings when the public is so hot to trot that you can charge them a 7% commission to buy a fund at full net asset value that will soon be selling at a deep discount. We have never reached that sort of mania with European bonds. We have never seen Bubblevision say about European investments what they were saying about emerging markets just before they crashed ("If there is only one portfolio manager you MUST listen to, it is Mark Mobius, who will be on tonight." The kiss of death if I've ever heard one. <g>)

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