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Strategies & Market Trends : Closed End Global and Country Funds

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To: Shoe who wrote (154)	1/6/1998 9:53:00 AM
From: Mike 2.0	Read Replies (1) of 289

Shoe, Sorry I did not mean to imply I have done strategy myself, I don't personally short stocks. But I am familiar with a success story in which a CEF investor (Foote was his name; check earlier this thread) who AFAIK shorted UK WEB (or another CEF with minor discount? Sorry not sure) and bought a UK CEF at a high discount. The CEF bought back shares to cut the discount, Foote pocketed that discount reduction with no mkt risk. Of course the WEB and CEF must be highly positvely correlated. I think for such strategy to make sense you need lot of capital though. For little guys like us (well me anyway :-) buy & hold makes better sense. Good interview with Mark Mobius in 1/12/98 Fortune re what countries he likes now, BTW.

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