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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (27908)5/2/1998 2:20:00 PM
From: Mark Adams  Read Replies (1) of 132070
 
APF- Barrons shows net insider sales of 192k shares, ranking Morgan Stanley Asia Pacific in the top % changes in Insider Holdings. This surprises me since this is a closed end fund. I've always associated insider sales with companies- not funds. Any comments?

Despite it's reluctance to just sit there, much like Shaman, I'm rather pleased with my IAF. I noted in their proxy materials that they want to require a super majority to open end. I like the pure play on Australia they provide, but they seem to be on the defensive with their new payout policy etc.

Finally, you've mentioned CH (chile) several times- but apparently don't have the same feelings for Brazil or Argentina trading at near the same discount. I would guess thats because you've looked at the macro economic picture, which differs substantially.

I'm not familiar with Brazil nor Argentina, but I did have the impression that Chile is very dependent on natural resource exports (ie fish meal, copper) and el nino decimated their anchovy harvest (we won't even talk about copper). With SWZ and so many other CEF's trading at 20% discounts, I'm certainly glad you've made me aware of this arena. But picking just one proves too much for me to bear.

I want a piece of all of them. <g>
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