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To: Lucretius who wrote (56492)8/15/1999 11:12:00 AM
From: re3  Read Replies (1) | Respond to of 86076
 
Luc, with the discount on asa about 12 %, wouldn't it be actually more prudent to buy the top two or three holdings it has, i.e. anglogold...

the way i see it, the discount should be about 20 %...here's why :

we pay $ 88 for $ 100 of assets, fine...so we pocket $ 12...but $ 12 cannot earn the $ 1 in mgmt fees that asa has...

true, we get the diversification it offers...but why is the mgmt fee so much ?

ike