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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Knighty Tin who wrote (216655)1/25/2003 2:23:51 PM
From: hdl  Read Replies (2) of 436258
 
i heard them talk re fax. i did not hear what you posted. (for reasons which are evident from my post- i was not paying very careful attention- i was reading with it on- but paid some attention as i heard closed end fund ) the critic said cefs always trade at discounts. he was corrected by the touter of fax- who said when an area is hot it often trades at a premium- and especially in bond cefs. i don't think they said you don't know what is in the fund- but rather that besides how the components do- u have to deal with size of discount. critic said fax held banks- perhaps meaning bonds of banks. touter said it held bonds, not banks- perhaps meaning government bonds, not bank bonds. touter- stated in response that he had not checked recently whether fax was trading at a discount- yet he touted it believing it was.
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