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Politics : Ask Michael Burke

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To: Doak Lambert who wrote (204)	7/31/1996 7:24:00 PM
From: Knighty Tin	of 132070

Doak, I like to do my oil investing by combining it with country plays, so I own Elf Acquitaine and YPF, because I like France and Argentina. I feel that gives me two ways to win, two ways to lose, and I do love leverage. Oil is not my favorite commodity. I prefer metals. But I like oil ok. One good way to buy it is to use the discounted Petroleum & Resources Fund (PEO), a closed end fund that curently sells at a 12 percent discount to its Net Asset Value. They have been around longer than dirt and know their stuff. Of course, you will get creamed if oil goes down, but at least you know that they will take a ride if it goes up. And you get it all for a discount and the fund has very low expenses. I recommend this one a lot, so I have to say that I have no interests in the company and nobody I know personally manages it. I just like it as an investment vehicle. MB

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