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Strategies & Market Trends : Closed End Global and Country Funds

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To: LTK007 who wrote (108)	11/11/1997 11:09:00 PM
From: Shoe	Read Replies (1) of 289

Max90, there are many worse CEFs than TY -- and I have bought a number of them! IMHO the expense ratio (about .625) is low relative to the discount, and for a long-term investor (not looking for a quick kill through open-ending), that is the key relationship. FWIW, if the market exposure is appropriate (or can be hedged) and if it fits with the tax planning, I would consider holding TY in the hope it may return to a lower discount. I believe the fund sits on some substantial unrealized gains, so that should be considered. I am slightly long TY. -- Shoe

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