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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ild who wrote (219266)2/6/2003 2:16:05 PM
From: Tommaso  Read Replies (1) of 436258
 
Actually the shares are offered at $4.49 and the NAV yesterday was $4.27.

Now it is dilutive for anyone who was dumb enough to buy into CEF at a high premium, but you can't blame the management for their willingness to take money in exchange for stock certificates. Their timing is absolutely perfect. They may be able to put the money into bullion at a price much below what was possible just two days ago.

Did anyone succeed in shorting CEF? I did not even try.
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