Time for CEF's, a double bottom or a trap?
Many of the SEA funds which bottomed out in
late last year or in early January have hit
those second bottoms--indeed, we saw the dead
cat bounces and now we are right back to the lows
on KF/KIF, FPF, EWM etc. Is it time to buy a couple
of these? Others are making new lows--TCH and PKF
for instance, which I recently bought, probably too
soon, but I can hold them awhile if I have to.
I only give my best picks to my wife, who is nearly
always mostly cash, for her I have picked out MXF or
TYW to hold onto for a couple years.
Any thoughts?.
I could just give her one of my US biotech losers, they
are always cheaper whenever I look at them, but I'd
worry, she hasn't been contributing to her ira just to
have me throw a grenade at it... When you're starting
out is probably just the right time to go for a big
winner, but risky. You can see why the MF managers like
to stay in the herd, hard to have guts with other peoples
money. |
