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

To: Knighty Tin who wrote (84521)	10/23/2000 12:22:01 PM
From: re3	Read Replies (1) \| Respond to of 132070

<<<Let some flunky butt who can't draw flies to honey run the CEF and its fixed cash payment. The CEFs are often the "farm team" of the fund cos. Mike (vbg) maybe a flunkie who doesn't know what he/she is doing will cause less damage to a portfolio than one who does and even knows how to turn cnbc on !!(like they said in where are the customer yachts, better the son be lazy and cynical of mind rather than the son be ambitious and wish to double the portfolio, for that usually spells the end of same portfolio) ho ho

To: Knighty Tin who wrote (84521)	10/23/2000 9:08:14 PM
From: Terry Maloney	Read Replies (1) \| Respond to of 132070

Michael, thank you for the detailed response ... as I just posted to Michael Bakunin, who also kindly responded to my question, you've given me a lot of food for thought, while boiling it down quite nicely: All in all, it means that most CEFs will be relatively undervalued most of the time. Which spells opportunity, in my book. I think I see ... if you get your timing right you not only get the 'diversification into hard-to-diversify-into situations' (as per mb's post: Message 14638086 ), you also get the leverage of an expanding 'multiple' on a suddenly-desired asset class ... sounds good to me. <g>