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Strategies & Market Trends : Value Investing

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To: Jyoti sharma who wrote (3054)	1/21/1998 10:05:00 AM
From: Robert Hoefer	Read Replies (1) of 78652

Your calculation of premiums for ADR's took me by surprise. A month or two ago I calculated the premium for PKX at 40%, based on quotes I got from StockSmart. Maybe I should have doublechecked before buying in at $16. Could you show me the math for the current premium on PKX? I had read in Smartmoney that the "normal" premium was about 60%, so I thought I was getting a bargain, though that's certainly debatable. I also want to offer a contrarian view to KF. After the peso devaluation, Mexico Fund kept its premium for a surprisingly long time, but eventually it drifted down into a wide discount. Might Korea Fund not be following the same delayed-reaction path?

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