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Strategies & Market Trends : Closed End Global and Country Funds

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To: Allen Furlan who wrote (198)	1/31/1998 9:14:00 PM
From: Shoe	Read Replies (1) of 289

The 2/98 Worth article does name several big players, though without icefi aliases. The article was available at www.worth.com, and may still be. But the discounts have practically evaporated! Average for international equity funds (including WEBS) now -0.21, from 52-week avg. of -9.01 per CDA/Weisenberger. Granted, some strange premiums affect the average, some of the Asian funds may be running ahead of closed markets, and there are still some opportunities, but a lot of the easy money has been made -- for example FRG, declared to be "toast" by one big player, saw its discount narrow from over 17% to 7.8% just this week. I do hold some FRG, but IMHO GF is looking comparatively more attractive, with its much higher discount and lower expenses, even though it is not "toast" -- only slightly singed by references in recent articles and a coy posting by Goldstein on icefi. -- Shoe

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