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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (39780)10/29/2010 5:02:03 PM
From: MCsweet  Read Replies (2) of 78470
 
MFCAF tender,

Sorry folks, but I tendered my MFCAF shares today. Experts agree that MFCAF should be worth more than TTT, and for that reason a non-tender makes sense, but I tendered for two reasons.

First, I own a fair-sized slug of TTT, much more than my MFCAF. It is good for TTT, and I think it will be ok for MFCAF.

Second, I prefer NYSE stocks to roach-motel pink sheet stocks with poor liquidity and sparse information. My current executions on MFCAF at my broker are poor. The market makers my broker routes to won't show my bid/offer unless I call them up and explicitly ask. That means I basically have to cross the bid/ask spread whenever I trade. I think a listing could save a fair amount in transaction costs over time.

That being said, I don't blame MFCAF shareholders for being frustrated and hope they don't hold it against me.

MC
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