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

To: Mama Bear who wrote (84500)	10/22/2000 6:52:00 PM
From: Knighty Tin	Respond to of 132070

Barb, I dislike the policy, both as a shareholder and a fund manager. I mentioned why it was stupid for shareholders. But, for fund managers, it puts an 8% constraint per year on your ability to buy low or take on a long term holding. It also means that you will always have to sell low to make the nut. After all, in up years, cap gains are pretty easy to come by. In down years, when you should be buying lower, you have to sell to pay to shareholders. Very dumb. However, just because I hate one policy doesn't mean that I hate either FAx or the H&Q funds. I just wish they weren't playing scamarama. I know why they have to. CEF buyers will ALWAYS buy "yield," even if it really isn't yield. It keeps the discounts lower than they otherwise would be, another thing to dislike about it if you are a buyer.