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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (62234)	6/13/1999 4:00:00 PM
From: Tommaso	Respond to of 132070

I was really only talking about the US stock CEFs, mostly the diversified ones with a lot of blue chips, or at least well-established, ongoing, businesses in their portfolios. And also mostly seeing them as, hypothetically, a way to catch the bottom of a bear market after the bottom seemed to have been put in, since the discounts often expand at that point. One reason, I think, is that some people short the funds at the end of a bear market--or used to. Now there are other ways to do that--with all the puts and indexes and spyders around. So it might not hapopen that way again. Yes, the discount/premium patterns often don't seem to make much sense, as I need not say, I guess. A lot of investing is like walking blind. If you can consistently blunder less than everyone else, you can do well. I found heavily discounted CEFs a more safe and diversified a way of edging into a market at low levels than anything else I know. But discounts can always widen.