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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (47050)2/14/1999 1:13:00 PM
From: Bonnie Bear  Read Replies (1) of 132070
 
I don't understand rights offerings..isn't that like selling an overpriced IPO on the first day? He bought shares when they were more expensive, seems like he'd want to do something like a buyback or quarterly distribution to lift the market price. He is sitting on 20-25% cash in his cefs....not very bullish.
royce is opening a fund for "qualified investors"..also not very bullish.
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