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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (13647)10/19/2004 11:08:57 AM
From: Knighty Tin  Read Replies (2) | Respond to of 116555
 
Mish, that will happen with Fax and Fco because they are closed end. Sometimes the swing in price has nothing to do with fund performance, just with swinging from premium to discount and vice versa.

I like Templeton Hard Currency for those who want to be tied more to currency than bond yields. Begbx is the best for those who do not want the closed end roller coaster. ESIYX is also good, though more investment grade than AAA, like Begbx. I'm sure there are some no-loads that don't hedge, but I don't follow them.

FCO is great for buying British Commonwealth bonds. Fax has some nice emerging market along with Commowealth. And ESD is a good choice for emerging only.



To: mishedlo who wrote (13647)10/19/2004 12:49:54 PM
From: benwood  Read Replies (2) | Respond to of 116555
 
One plunge of FAX was triggered a rights offering to sell new shares for sub-market value. As KT pointed out at the time, rights offerings are designed to benefit the management, not the shareholders. FAX management backed off after a lawsuit was filed by a major stockholder. Perhaps this is the incident to which you are referring? It was about a 20% haircut as I recall.


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