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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: hdl who wrote (216688)1/26/2003 11:21:28 AM
From: Knighty Tin  Read Replies (1) of 436258
 
hdl, there were two critics. The guy who didn't understand discounts said that he wanted to pay full price for a regular mutual fund instead of pay less for a CEF. And he definitely said that you never know what is in a CEF.

The other critic, of sorts, was Trapper John from Mash, Wayne Rogers. He said that FAX was mostly bank bonds. The Capitalist Pig said it was mostly sovereign debt.

Just for the record, FAX closed the week with a 9.69% discount to NAV, which means that each dividend is worth nearly 10% more than it would be worth in an open end fund. It's higher quality sibling, FCO, was at 5.96% discount.
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