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Strategies & Market Trends : Thai Funds
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To: Shoe who wrote (23)10/25/1997 8:00:00 PM
From: Polartee  Read Replies (1) of 107
 
Yesterday, I had a call from my broker saying I had to buy back my TC (Thai Capital) shares. Too bad since they are still trading at a big premium to NAV of 57.3%. Still, since early August when I shorted them, they have gone down from $9 to $6.75 where I covered them. Fortunately, most of my short position on Thailand has been in TTF so I hope that stock doesn't get called away. TTF as of yesterday is at a 63.9% premium to NAV.

It's too bad Shoe that I didn't take an unhedged position on Malaysia last week as that market was hammered along with Hong Kong. While the price of MF is down on the week, it is now trading at a 36.9% premium to NAV (more than last week's premium). I'll increase my short position if possible but pick up the hedge as well just to be conservative.
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