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Technology Stocks : GGT - Gabelli Global Multimedia Trust
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To: re3 who wrote (11)2/25/1999 10:49:00 AM
From: Raybert   of 21
 
Hi Howard, GGT is a closed end trust that is managed by Gabelli. The recent IPO was for Gabelli Asset Management, Inc (GBL). Gabelli has three closed end funds available in the market, GGT, GAB, and GCV. Follow the link on the #0 post of this thread to get the underlying asset values.

My own interest is in the GGT fund. I haven't looked at GBL, so I don't have any opinion on it. The thing that interests me in GGT is the basket of cable stocks and content providers. I really believe that cable will soon be the one connection we have with the world. ATT just merged with TCI to get around the RBOC's so I expect that you will soon use cable for long distance calling. Warren Buffet has also recently taken a position in cable companies for the first time.

And why not? The telephone wire doesn't have the throughput to support the new need for bandwidth. The RBOC's talk about the 'last mile' problem of getting a fast connection into the house but the cable companies already have a connection that can support hundreds of channels of streaming video. How much more do you need?

As of today, you can buy $13.69 cents worth of cable companies, etc. for about $11.50. I'm not sure that the gap will ever close but I doubt that it will get much worse. I also think that the asset base has great potential.

You may also want to check out ACTV, Inc. (IATV). They are likely to be providing the software for the convergence.

Good luck,

Ray
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