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To: Knighty Tin who wrote (216655)	1/25/2003 2:01:44 PM
From: Joan Osland Graffius	Read Replies (4) \| Respond to of 436258

KT, I could not believe what I was hearing from the fellow on CEF's. The longer they keep the public uninformed the better off we will be. <g> I believe what is going on right now is the mutual funds are seeing outflows and with the low cash they are carrying these fellows have to sell like heck hoping they will keep their jobs. IMO, the mutual fund managers on CNBC sound desperate. Cliggott was telling it the way it is on Loui's show last night. He does not think we have come out of the recession - I think he is right.

To: Knighty Tin who wrote (216655)	1/25/2003 2:23:51 PM
From: hdl	Read Replies (2) \| Respond to of 436258

i heard them talk re fax. i did not hear what you posted. (for reasons which are evident from my post- i was not paying very careful attention- i was reading with it on- but paid some attention as i heard closed end fund ) the critic said cefs always trade at discounts. he was corrected by the touter of fax- who said when an area is hot it often trades at a premium- and especially in bond cefs. i don't think they said you don't know what is in the fund- but rather that besides how the components do- u have to deal with size of discount. critic said fax held banks- perhaps meaning bonds of banks. touter said it held bonds, not banks- perhaps meaning government bonds, not bank bonds. touter- stated in response that he had not checked recently whether fax was trading at a discount- yet he touted it believing it was.