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To: hdl who wrote (216688)	1/25/2003 3:00:49 PM
From: Tommaso	Read Replies (1) \| Respond to of 436258

WWhy do you keep calling the guy a "touter"? As far as I can tell from what you say, everything he said about FAX was true. Pointing out that you can get government bonds denominated in currencies other than US dollar, and selling at a discount, sounds to me like a much more responsible suggestion than 95% of what you hear on financial programs. Yes, I do own a very large position in FAX. I bought it for the income, but should it go to a premium to NAV I think I would sell it.

To: hdl who wrote (216688)	1/26/2003 11:21:28 AM
From: Knighty Tin	Read Replies (1) \| Respond to of 436258

hdl, there were two critics. The guy who didn't understand discounts said that he wanted to pay full price for a regular mutual fund instead of pay less for a CEF. And he definitely said that you never know what is in a CEF. The other critic, of sorts, was Trapper John from Mash, Wayne Rogers. He said that FAX was mostly bank bonds. The Capitalist Pig said it was mostly sovereign debt. Just for the record, FAX closed the week with a 9.69% discount to NAV, which means that each dividend is worth nearly 10% more than it would be worth in an open end fund. It's higher quality sibling, FCO, was at 5.96% discount.