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Strategies & Market Trends : Bonds & Bond Funds

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To: peter michaelson who wrote (52)	12/24/2008 12:13:54 AM
From: Lance Bredvold	of 161

Yes, I agree that FAX can be used on a short term basis as both of you have described. I might even do that myself. I think it was Pru-Bache who sold it to Dad and I think it was closed end from the beginning--it's just that he bought it at the beginning. I think I said he paid $11, but now that I think more about it, I think he got it for $10 and the price went up for a couple of the first years. Back then they invested in Australian bonds exclusively, but sought a new charter with permission to buy other country debt after the FAX price decreased consistently and it looked like the Australian dollar would never recover relative to ours. I wish you good fortune and will continue to monitor your progress. Best, L.

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