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Strategies & Market Trends : Closed End Global and Country Funds

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To: Mike 2.0 who wrote (153)	1/5/1998 11:05:00 PM
From: Shoe	Read Replies (2) of 289

Mike, some WEBS seem hard to short and some thinly traded. I was using the strategy you described on a small scale and was forced to buy back less than 2 weeks after shorting EWP (at Waterhouse -- they were very nice about it and allowed me a few days, and my other broker would not let me short WEBS at all, so I do not fault Waterhouse). Would you tell us what brokers you have used and what WEBS you have been able to short? Those who choose to bear more risk by shorting the CEFs at premiums and buying those at discounts, rather than matching each CEF with a WEBS, will do better in the long run, IMHO. But the discounts seem to have declined rather sharply of late. -- Shoe

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